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Lessons Learned in Venturing (SanomaVentures & Springest) at Sanoma Media Matters 2014
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Lessons Learned in Venturing (SanomaVentures & Springest) at Sanoma Media Matters 2014

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Presentation by Ruben Timmerman (Springest) and Herman Kienhuis (SanomaVentures) on their activities and their lessons learned as entrepreneur and investor, at Sanoma Media Matters, June 11, 2014 in ...

Presentation by Ruben Timmerman (Springest) and Herman Kienhuis (SanomaVentures) on their activities and their lessons learned as entrepreneur and investor, at Sanoma Media Matters, June 11, 2014 in Hoofddorp, The Netherlands.

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Lessons Learned in Venturing (SanomaVentures & Springest) at Sanoma Media Matters 2014 Lessons Learned in Venturing (SanomaVentures & Springest) at Sanoma Media Matters 2014 Presentation Transcript

  • Lessons Learned in Venturing Herman Kienhuis & Ruben Timmerman Sanoma Media Matters Hoofddorp, June 11, 2014
  • agenda the investor - introduction to herman & sanomaventures the entrepreneur - introduction to ruben & springest the investor - lessons learned the entrepreneur - lessons learned Q&A
  • the investor
  • chemical engineering / mckinsey / mba / sanoma finance & strategy / digital product development / venture capital family-man / music-maker / 
 vintage-lover / internet-geek
  • Addressing all three horizons of growth defend and extend core businesses (TV, newspapers, magazines, local online assets, educational books) PROFIT build emerging businesses (marketing solutions, international online, learning solutions) REVENUE create viable options for the future (Innovation Lab, SanomaVentures) INNOVATION
  • Geographies
  • Consumer Media Consumer web services Mobile & Tablet publishing Online Video & connected TV E-commerce Advertising & marketing services Lead generation & Marketplaces Commerce services Education Pre-school educational apps K12 ecosystem Personal/professional development Scope
  • capitalneed(EURx1000) >20.000 20.000 10.000 5.000 2.500 1.000 500 250 100 50 25 Incubators/ accelerators/ angel investors start development phase friends & family venture capital Sanoma Ventures (€0.1-1.0m) pre-seed seed early-stage / venture growth later-stage •  Very difficult to screen (no metrics available) •  Low success rate •  5-7 years for return •  Competition from VC’s •  Limited ability to acquire >15% stakes •  Much capital required •  Less investors, lower valuations •  User metrics available •  3-5 years for return sweetspot Stage
  • SMART MONEY •customer reach: Sanoma media package (in addition to cash) •mentoring: Sanoma business owners act as sparring partners •expertise: Sanoma design, development, marketing and sales specialists and industry/ domain experts & knowledge •network: Sanoma corporate customers, suppliers, partners, other ventures
  • R&D: Create access to external talent and innovations; reduce cost of experimentation; 24 investments in 3 years ! Growth: Create options for future growth; build up a portfolio generating 
 >€20 mln revenues in 2017 ! Value creation: Support startups with expertise, network and media as an investment currency; manage portfolio companies to positive return and create 5 ‘exits to Sanoma’ (acquired) in 6 years ! Transformation: Facilitate knowledge exchange, bringing new insights into Sanoma, supporting its transformation ! PR: Help build Sanoma’s innovation and growth story towards advertising-, labour-and capital market SanomaVentures’ objectives
  • L.Druege@vdz.de
  • L.Druege@vdz.de ROOMLR SOCIAL SHOP
  • L.Druege@vdz.de STAGE OF INVESTMENT >EUR 0.25mln
  • L.Druege@vdz.de AREAS OF INVESTMENT
  • L.Druege@vdz.de
  • the entrepreneur
  • Springest:Your Learning Source Learning is fragmented. People and companies need a guide. We’ll be the Amazon of Learning. Springest.nl / .de / .co.uk / .be / .com / .ru
  • People regularly discover, buy & review learning products Companies help employees grow, get
 education + budget compliance Publishers monetize their content via our API & white label Learning providers local or online, get clicks, 
 leads, sales & branding Software vendors enable their apps with learning data What: Learning marketplace
  • Cloud perspective
  • Inspired by Jeff Bezos‘ Amazon Flywheel New Users User
 Experience Learning content Learning Providers Flywheel, chicken, egg
  • how: holacracy / agile
  • how: data driven product
  • how: data driven product
  • how: internal awareness
  • the investor: lessons learned
  • team, team, team
  • dedication & focus
  • invest in stuff you know something about
  • push what goes well
  • and get out of the way
  • accept limited control
  • and have patience
  • the entrepreneur: lessons learned (the hard way ;))
  • choose leverage
  • solve existing problems
  • conquering country cliches
  • scaling by teaching
  • sales is marketing is product 2800 providers = 1 accountmanager + 1 support
  • extreme transparency
  • focus on (in)security
  • get started @kienhuis | @rubzie |#smm14 Questions?