Hackday

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Hackday

  1. 1. Startups Ryan Junee ryan@junee.org http://ryanjunee.com
  2. 2. My Background Idea Launch Learn Pitch Exit? Questions?
  3. 3. My Background Idea Launch Learn Pitch Exit? Questions?
  4. 4. Learned a Lot
  5. 5. 2007: Started Omnisio
  6. 6. Funded by Y Combinator (Winter 2008)
  7. 7. 9 months later...
  8. 8. 1 year later...
  9. 9. 2010: Quit YouTube, brainstorming (w/ Max Skibinsky)
  10. 10. 2011: Founded Inporia
  11. 11. Raised $1.3M from top silicon valley investors
  12. 12. Epic Fails Pivots 12 months 3 months 2 months 11 months
  13. 13. We are still going (currently 200k users)
  14. 14. Mentoring:Investing:
  15. 15. My Background Idea Launch Learn Pitch Exit? Questions?
  16. 16. Your Idea: credit: Peter Thiel
  17. 17. What is yourpassion?
  18. 18. Consumer distribution, distribution, Internet distribution Enterprise Build and manage Software a sales teamEnergy, Biotech, Solve hard AI, ... technical problems
  19. 19. Choose yourco-founder(s) carefully
  20. 20. My Background Idea Launch Learn Pitch Exit? Questions?
  21. 21. FOCUS
  22. 22. Use Surveys to Decide • Google Docs Form + Amazon Mechanical Turk • AYTM.com Inporia v1.0
  23. 23. Landing Page / Smoke Test •Value Proposition •Sign Up • Facebook • Email • ....Drive traffic with Google Ads, Facebook Ads ...• Wide variation in price• Inporia $2.17/user (Google)• Mobile dating app: $0.10/user (Facebook)
  24. 24. Launch, Press (Mobile example)Goal: Increasing downloads over a week (= top ranked list) 1. Monday/Tuesday launch is best 2. Pre-brief all press (with embargoes) 3. Tech blogs break the news (night before launch) 4. Ask people to re-tweet news 5. Mainstream press articles (launch morning) 6. App review sites (1-2 days later) 7. Paid user acquisition (1-2 days later)
  25. 25. Kaleidoscope v1.0 - Not Bad
  26. 26. Kaleidoscope v2.0 - Much Better Featured by Apple
  27. 27. This Morning: Featured by Google
  28. 28. Integrate with Social Platforms Pinterest Organic Press Facebook
  29. 29. My Background Idea Launch Learn Pitch Exit? Questions?
  30. 30. Minimize Cycle Time credit: Eric Reis
  31. 31. AARRR! credit: Dave McClure
  32. 32. Before Product-Market Fit: • Retention (do they come back?) • Engagement (time/actions on site) • Mobile: reviews/ratings
  33. 33. Talk to customers!
  34. 34. Easiest Simple questions: Qualaroo • “What else would you like to see on this page?” • “How likely are you to recommend this? (NPS)” Video testing: usertesting.com In-person interviews • Craigslist • 45 mins / $20Most Information
  35. 35. After Product-Market Fit: • Growth in DAU We are not quite there yet!
  36. 36. My Background Idea Launch Learn Pitch Exit? Questions?
  37. 37. SingleSentenceElevator Pitch 30 seconds‘Demo Day’ 2 minutes10-slide deck 20 minutes
  38. 38. Elements of a pitch1. Single Sentence 6. Business Model2. The Problem 7. Distribution3. Your Solution 8. ‘Secret Sauce’4. Product Demo 9. Team5. Market Size 10. Milestones more...
  39. 39. Fundraising in Silicon Valley • Seed Stage: (200K - 2M): Convertible Note • Series A (2M - 5M): Equity
  40. 40. Seed Valuations Going Up Source: Fenwick & West + my estimate
  41. 41. My Background Idea Launch Learn Pitch Exit? Questions?
  42. 42. Who would you rather be? “Companies are bought, not sold”
  43. 43. Acqui-hires in Silicon Valley Seed Stage Funding Supply of Engineers Acqui-hires• ‘Soft landing’ for failed startups• $1M - $2M per engineer• 2 - 4 years vesting• Payback investors (sometimes)
  44. 44. My Background Idea Launch Learn Pitch Exit Questions?
  45. 45. Questions? Ryan Junee ryan@junee.org http://ryanjunee.com

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