Frogs, hippos and weddings: Learnings from building wooga
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Keynote at arctic15 in Helsinki by wooga founder Jens Begemann on September 22nd 2011. *Frogs, hippos and weddings: Learnings from building wooga* In his keynote, Jens Begemann talks about his learnings from building wooga and provides insights of what he thinks are the key aspects for successfully founding a company.
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Frogs, hippos and weddings: Learnings from building wooga
- 1. + Frogs, hippos and weddings: Learnings from building wooga Jens Begemann (Founder & CEO)
- 2. Remember Jamba‘s Crazy Frog § 2001-‐2008: valuable entrepreneurial learnings made @Jamba (startup in Berlin) § Best preparaBon for starBng wooga
- 3. wooga – world of gaming About wooga Jens Begemann Founded January 2009 -‐Founder & CEO-‐ Funding of $32m InternaBonal team of 110 from over 20 countries in Berlin Key stats 6 games on Facebook 40 million acBve users 70% of users are female (age 20-‐60) 3
- 4. Agenda I. Founding team II. How to get started III. Product development IV. Culture V. RecruiBng VI. Investors 4
- 5. Trust, clear responsibiliBes & strenghts Philipp Moeser Jens Begemann Co-‐founder & CTO Founder & CEO 5
- 6. FOCUS vs. vs. Sales Technology Product 6
- 7. FOCUS PRODUCT § NO Biz Dev § NO Sales 7
- 8. Agenda I. Founding team II. How to get started III. Product development IV. Culture V. RecruiBng VI. Investors 8
- 9. Business Plan 9
- 10. Slide fro10 m Product Plan: Financial Plan: Nov 2008 Casual Social Games Networks Brain training Brain Sport Vision: Become a major consumer brand & desBnaBon for social casual games on the web & mobile phones
- 11. Business Plan 11
- 12. Have a vision! „Games for everyone“ 12
- 13. Important: Product -‐ prototype 13
- 14. How do you grow customers? -‐ Brain Buddies
- 15. 4 month ader launch we ran out of wall 15
- 16. Maybe: How do you moneBze? 16
- 17. Agenda I. Founding team II. How to get started III. Product development IV. Culture V. RecruiBng VI. Investors 17
- 18. DON‘T follow the HIPPO* *Highest paid person’s opinion Source (Hippo): hep://www.am.dodea.edu/bragg/murray/Images/hippo.png 18
- 19. A/B tesBng 111% 100% 104% 19
- 20. User tesBng 20
- 21. Throw stuff away Success comes by what you don‘t do! 21
- 22. Agenda I. Founding team II. How to get started III. Product development IV. Culture V. RecruiBng VI. Investors 22
- 23. 1 One office, one team, one language 23
- 24. 2 OPENNESS Share key informa`on internally 24
- 25. 3 Geang things done! ✔ 25
- 26. 4 10 year vision 6 month plan Weekly itera`ons 26
- 27. 5 Your behavior = your company culture vs. 27
- 28. Agenda I. Founding team II. How to get started III. Product development IV. Culture V. Recrui`ng VI. Investors 28
- 29. RecruiBng 2h/day for everyone in senior team 29
- 30. NO compromise Rather leave a job posiBon open than employ someone who doesn’t fully fit 30
- 31. Onboarding Equally important Leaving employees Happy people talk to 10 people ! Unhappy people talk to 100 people 31
- 32. Agenda I. Founding team II. How to get started III. Product development IV. Culture V. RecruiBng VI. Investors 32
- 33. Raise 2x what you need & Before you need it 33
- 34. Valua`on not most important Difficulty to raise next round ! Don‘t forget other contract terms Be long-‐term greedy 34
- 35. Investor = geong married Investors = 35
- 36. Select your partner Bad partners § Don‘t understand your business § Cost you time instead of helping § Throw you out Good partners § Have been in your shoes before § Support you as an entrepreneur § Are fun to work with Make reference calls with CEOs of their investments 36
- 37. Board meeBng checklist Send before the mee`ng: ¨ Latest financials incl. re-‐forecast ¨ „Update on the business“ memo (highly structured email) ¨ Clear agenda ¨ Theme of the board meeBng Mee`ng every 2 months: ¨ No slides ¨ Have a Bme keeper ¨ 3 hour meeBng: ¨ 2 hours on theme of the board meeBng ¨ 1 hour on „other“/open discussion 37
- 38. I. Founders II. How to get started III. Product development Trust, responsibiliBes Product Prototype & strengths IV. Culture V. Recrui`ng VI. Investors Your behavior = your company culture 2h/day
- 39. One more thing... 39
- 40. Get experience @wooga: wooga.com/jobs 40
- 41. Thank you! Jens Begemann Founder & CEO wooga Twiker: @begemann wooga.com/jobs 41