The document outlines a course on start-ups, covering key concepts such as the nature of a start-up, successful case studies, and lessons learned from failures. It includes examples of notable start-ups like Yoox, Jobrapido, and Arduino, detailing their business models and growth trajectories. Additionally, it addresses common pitfalls faced by entrepreneurs, illustrated by examples like Volunia and Webvan.

1. Start-ups
Frieda Brioschi / Emma Tracanella
frieda.brioschi@gmail.com / emma.tracanella@gmail.com
IED, 01 Mar 2016
Lesson 1/2016

2. 1. Start-ups
Course program
1. Start-ups
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3. 1. Start-ups
Today’s table of content
1. Who we are
2. What is this course
3. Successful companies
4. #EpicFAILS?
5. Lessons learnt
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4. 1. Start-ups
Who we are
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5. 1. Start-ups5

6. 1. Start-ups6

7. 1. Start-ups
About this course
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8. 1. Start-ups
Start-ups 360°
• what is a start-up
• how can I create mine
• should I open a start-up?
• what I never need
• what is useful to know in advance
• useful tool
• network
• …
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9. 1. Start-ups
How I can..
• work
• work better
• design
• communicate
• present myself and my idea
• telltoaninvestorveryquicklymyideaasifweareina
nelevator (best known as “pitch”)
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10. 1. Start-ups
Successful companies
(once were start-ups!)
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11. 1. Start-ups
YOOX
YOOX Group S.p.A is an Italian internet mail order
retailer of men's and women's multibrand clothing and
accessories.
Founded by Federico Marchetti, a former investment
banker, in Zola Predosa near Bologna in 2000, Yoox
Group has become a profitable e-commerce company
that serves "more than 100 countries worldwide”.
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http://en.wikipedia.org/wiki/YOOX

12. 1. Start-ups
YOOX
It has established itself amongst the market leaders with
the multi-brand stores yoox.com, thecorner.com and
shoescribe.com.
Since 2006, YOOX Group designs and manages mono-
brand online stores for fashion brands looking to offer
their latest collection on the Internet (Emporio Armani,
Diesel, Valentino, Moschino, ecc.).
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http://www.yooxgroup.com/it/pages/all-news/press-kit/yoox-group/

13. 1. Start-ups
YOOX
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http://www.yooxgroup.com/pages/investor-relations/yoox-at-a-glance/

14. 1. Start-ups
YOOX
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http://www.yooxgroup.com/pages/investor-relations/yoox-at-a-glance/

15. 1. Start-ups
YOOX
As reported on the 2014 balance sheet, YOOX Group has
a net worth of €13.8 millions and revenues of €524.3
millions.
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http://www.yooxgroup.com/pages/investor-relations/

16. 1. Start-ups
YOOX
Milan, 31 March 2015 – YOOX the global Internet
retailing partner for leading fashion brands, has entered
into an agreement with Richemont, controlling
shareholder of Net-A-Porter, the world’s premier online
luxury fashion retailer, on the terms of an all-share
merger.
The transaction will create the Combined Group, the
independent leading online luxury fashion retailer
worldwide, with combined 2014 net revenues of €1.3
billion, and Adjusted EBITDA of approximately €108
million.
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http://www.yooxgroup.com/pages/investor-relations/merger-with-the-net-a-porter-group/

17. 1. Start-ups
YOOX
http://www.yooxgroup.com
http://it.wikipedia.org
http://en.wikipedia.org
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18. 1. Start-ups
The website was created in 2004, spawning from the
success of low-cost flight companies. Low-costs were
usually not considered in the traditional channels of
distribution (booking sites and travel agencies): an
hassle for the customer willing to book a flight, who had
to check all the companies' sites one by one. This
intuition pushed the founders to “ride the wave”, gaining
instant success. Later, they broadened the range of
services offered, including hotels and full holiday
packages, therefore improving the perceived value of the
service.
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http://www.ict4executive.it/executive/interviste/volagratiscom-sul-web-un-successo-made-in-italy---
intervista-a-marco-corradino-fondatore_4367215330.htm

19. 1. Start-ups
• 2004: first incorporation of the society, with 50.000 €
capital, by two founder (Marco Corradino and a business
partner), one employee. Sale of first flight
• 2005: scheduled flights are introduced (CRS) First internal
customer service, with four employees
• 2006: Bravofly Group is constituted, service for the
European market starts, in four languages
• 2010: they reinforced their top management and changed
shareholders structure
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http://www.lastminutegroup.com/about-us/our-history.aspx

20. 1. Start-ups
• 2011: launched the new website specialized in package
holidays; enhanced range of products by also offering
cruises.
• 2012: Rumbo acquisition
• 2013: Jetcost acquisition
• 2014: the Bravofly Rumbo Group debuted on the SIX
Swiss Exchange
• 2015: lastminute.com acquisition and changed the name
to lastminute.com group
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http://www.lastminutegroup.com/about-us/our-history.aspx

21. 1. Start-ups
http://www.lastminutegroup.com
http://it.wikipedia.org/wiki/Volagratis
http://en.wikipedia.org/wiki/Bravofly_Rumbo_Group
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22. 1. Start-ups
Jobrapido
“Jobrapido is one of the largest job search engines
in the world, delivering 660m visits per year in more
than 50 countries. It helps job seekers search
millions of jobs globally, and provides employers
with access to one of the world's largest candidate
audiences.”
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http://en.startupbusiness.it/news/dmgt-acquires-jobrapido/77422/

23. 1. Start-ups
Jobrapido
“Looking for a job on the web is annoying”. From this
thought of Vito Lomele (an engineer from Conversano,
who lived in UK and Germany) was born the idea to limit
to the minumum this unavoidable phase: “I was looking
for a job, and I realized how it was difficult and
complicated. So I said myself: there are no search
engines for job offers? I'll make one” !
Started in 2004, in 2006 became a company
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http://it.wikipedia.org/wiki/Jobrapido

24. 1. Start-ups
Jobrapido
With the project growing, more people and money were
needed: 200k € were raised from some friends, including
the former boss, and 150k € were invested by an
european entrepreneur, Oliver Samwer. 2011's turnover
was 24 million Euro, with 3 of net profit; 660 million
users, 80 employees from all over the world.
In 2012 Evenbase, from the publishing group DMGT
(Daily Mail and General Trust) bought out 49% of the
company (it is said, for 30 millions), leaving Lomele at the
helm with 51%.
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http://it.wikipedia.org/wiki/Jobrapido

25. 1. Start-ups
Arduino
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http://arduino.cc

26. 1. Start-ups
Arduino
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Arduino is an open-source computer hardware and
software company, project and user community that
designs and manufactures microcontroller-based kits for
building digital devices and interactive objects that can
sense and control the physical world.
In mid-2011 it was estimated that over 300,000 official
Arduinos had been commercially produced, and in 2013
that 700,000 official boards were in users' hands.
https://en.wikipedia.org/wiki/Arduino

27. 1. Start-ups
Moleskine
The present Moleskine notebook is fashioned after Bruce
Chatwin's descriptions of the notebooks he used in his travels. In
The Songlines, Chatwin tells the story of his original supplier of
notebooks, a Paris stationer who in 1986 informed him that the
last notebook manufacturer, a small family-run firm in Tours, had
discontinued production that year, after the death of the owner.
In 1997 a small company based in Milan, Modo & Modo SpA,
reintroduced this notebook, and establishing the Moleskine
trademark and starting production of Moleskine notebooks with
5,000 pieces. In 1999, Modo & Modo SpA started distributing
outside Italy. In 2004, Moleskine notebooks arrived in Japan, and
from there Moleskine started distribution to the rest of Asia.
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http://it.wikipedia.org/wiki/Moleskine#Storia

28. 1. Start-ups
Moleskine
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http://it.wikipedia.org/wiki/Moleskine#Storia
In 2006 the French investment fund Société Générale Capital
purchased Modo & Modo SpA, and invested in its expansion.
The company name changed to Moleskine Srl.
In July 2012 Moleskine collections were distributed in 22,000
stores across 95 countries.
In 2011, Moleskine production extended to new categories
with the new writing, travelling and reading collections,
launched at the Milan Design Week 2011.
In March 2013 the company announced that it will go public at
the Milan, Italy, stock exchange.

29. 1. Start-ups29

30. 1. Start-ups
LoveTheSign
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http://www.lovethesign.com/uk/
“LOVEThESIGN is the answer to all your designer furniture
needs. We feature products from over 200 of the most
innovative brands and designers from across Italy and the
world to help make your house sizzle with character.
You can search through our catalogue of products or search
by brands or even scroll through our brilliant LOVEPROMO
section that offers a great selection of discounted designer
furniture.”

31. 1. Start-ups
LoveTheSign
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http://www.lovethesign.com/uk/
• furniture
• online decor
• lighting
• interiors
• gift ideas
• outdoor furniture
• kitchen & tabletop
• textile

32. 1. Start-ups32
http://www.spotli.me

33. 1. Start-ups
Orange Fiber
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http://www.orangefiber.it/en/
“Orange Fiber is a project aiming at the creation of
sustainable and vitaminic fabrics from citrus waste.
We want to transform citrus waste – currently valuing
700.000 tons just in Italy – in a sustainable and vitamin-
enriched textile that would represent a brand new
opportunity for italian tradition in high quality textiles and
fashion.”

34. 1. Start-ups
ALYT
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http://www.alyt.com/download/files/ALYT_Press%20Realese_April_9.pdf
“ALYT (Affordably Link Your Things) is a unique do-it-
yourself (DIY), open source, ANDROID powered Smart
Home Manager. It enables consumers to easily manage
their home security, energy use, entertainment systems,
and home automation through their Android or iOS
smartphones and tablets.”

35. 1. Start-ups
Brandon Ferrari
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http://brandonferrari.com/en/
“Brandon Ferrari is the new worldwide on line market
place for Fashion, Home & Living, Gourmet and
Design. Brandon Ferrari, as a distribution Company, drew
up partnership with the most important digital retailers in
Europe, Middle East, Asia, Latin America and USA, and
can provide a portfolio of 60 brands between Italian and
international excellences.”

36. 1. Start-ups
#epicFails?
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37. 1. Start-ups
Volunia
“The Volunia project closed.
In 2012, at public launch time, the creator has been kicked off
his own project by the investor, who wanted to take full control
of the company (including the CTO position... sigh...).
Result: two years with no innovation, no marketing, nothing,
bringing the company to failure.
(As an aside, general piece of life advice: despite your
enthusiasm and good faith, never trust anybody, as you never
really know a person.
Beyond words and appearances, you can really find anything,
good but also bad: from honest gentlemen to greedy thieves,
from judicious men to obtuse egomaniacs.
Always shield yourself from the legal viewpoint.)”
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http://www.volunia.com

38. 1. Start-ups
Volunia
“Back to the Volunia project: the (only) positive side is that after
the legal struggle with this guy, the creator is at last going to get
back the whole project code, which will be soon made open-
source, so to let other people freely reuse the wealth of code
and algorithms developed at the time.
For descriptions of the Volunia project (in its initial stage of
development), see for example:
• Search Engine Land's "Volunia, A Social Search Engine, Says
The Web Has Come Alive"
• Search Engine Watch's "When Will Social Search Engine
Volunia Deliver its Quantum Leap"
Stay tuned for the code, and good luck with your ideas!”
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http://www.volunia.com

39. 1. Start-ups
Volunia
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https://www.youtube.com/watch?v=-Ph9S2xeCSU

40. 1. Start-ups
Napster
Napster was the name given to two music-focused online
services. It was originally founded as a pioneering peer-to-
peer (P2P) file sharing Internet service that emphasized
sharing audio files, typically music, encoded in MP3
format.
The original company ran into legal difficulties over
copyright infringement, ceased operations and was
eventually acquired by Roxio.
In its second incarnation Napster became an online music
store until it was acquired by Rhapsody.
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https://en.wikipedia.org/wiki/Napster

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44. 1. Start-ups44

45. 1. Start-ups
Webvan
• Born in 1999 as a online shop and delivery service for
groceries in Silicon Valley, California.
• Founded by Louis Borders, a successful entrepreneur
(founder of Borders Bookstores)
• Promised 30 minutes deliveries anywhere in town, 24/7.
• Within an year and still in the red, it expanded business
to 10 major US cities, aiming to reach 26 biggest cities
in the country.
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46. 1. Start-ups
Webvan
• Gained 375 million $ in investment money within 18
months (from Goldman Sachs, Yahoo, Sequoia Capital
etc)
• Worth 1.2 billion after two years (despite no sustainable
revenues) 13 million sales in its first 6 months (despite
reporting 35 million losses)
• Over 2000 employees, presence in the most important
US markets (west coast)
• Bought out its direct competitor with 1 billion $ in stocks.
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47. 1. Start-ups
Webvan
• Huge investments in infrastructure (inspired by
Amazon) 300,000-square-foot distribution centres (the
“most automated in the world”)
• Lots of advertising 200 trucks for the Atlanta area only
(grand total actually unknown)
• Refitted company headquarters → 92.000$ for 115
chairs (800$ ea)
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48. 1. Start-ups
Webvan
• Grocery business in the US works on razor-thin
margins 2-3 cents per dollar are considered good
margin 1 cent per dollar is common
• Burned through 1 billion $ in investment money without
achieving a sustainable business model
• No one on the board had any experience in
management
• Operating expenses much higher than traditional
channels
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49. 1. Start-ups
Webvan
Ultimately:
• bad management decisions
• customers' advantages did not justified higher
prices
• too much money avalaible induced lavish spending
• dotcom bubble collapsed LARGEST DOT COM
FLOP EVER According to CNET
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50. 1. Start-ups
Other examples
• startupover.com
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