sproutup and rypple
Post on 17-Oct-2014
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DESCRIPTION
SproutUp group talks about RyppleTRANSCRIPT
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story & stuff daniel debow
SproutUp Oct.20.2010
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background startup v1 startup v2 useful stuff m
y sp
iel
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background/me
Daniel Debow Stanford LLM, UofT JD/MBA, Western BA(psych) Workbrain co-founder + VP, Corp Dev & Marketing Rypple co-founder + co-CEO Bass player & music lover New dad
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background/my partner
David Stein
McGill Comp Sci Workbrain co-founder, EVP, Chief Strategist
Rypple co-founder + co-CEO Oenophile
2 boys
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STARTUP V1 the workbrain era
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startup v1
workbrain where it all
started
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startup v1
me & workbrain co-wrote the biz plan hired tons of people
sales ops, marketing, corp dev went public & got us sold
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startup v1
sold in 2007 for $227MM
8
0 4 17
34
57
89 97
2000 2002 2004 2006
revenue (US$ MM)
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startup v2
wanted post-workbrain high growth, high margin businesses
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startup v2
a business screen software enabled peer-production
huge market change in channels
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startup v2
a real problem not enough feedback at workbrain
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STARTUP V2 the founding of rypple
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People hate performance reviews *Bersin Associates Research
75%
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Proof of concept
startup v2
c-level buyin & quick adoption
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startup v2
“Game changing management idea”
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Seed financing
startup v2
$5M+ edgestone, peter thiel, & angels fund product/market fit
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Early hires
startup v2
driven, smart, humble, fun general purpose initially, stars from workbrain
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startup v2
1000’s of innovative tech & creative co’s Early users
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Social software that makes feedback easy
startup v2
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Series A
startup v2
$7M round lead by Bridgescale funds for scaling the machine
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LITTLE BITS OF SEMI-USEFUL ADVICE What I’ve learnt so far
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Caveat “Nobody knows nothing.”
* William Goldman
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useful stuff
Know yourself passion ! hobbies find teachers & mentors risk sucks. love risk.
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useful stuff
Starting don’t believe your bull$#!% talk to lots of people iterate
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useful stuff
Partnerships diff. strengths + viewpoints = great decisions great b/s detector …it’s a marriage
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useful stuff
People #1 job – build a killer team A-players from the beginning exit gracefully, but exit
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useful stuff
Money dig your well before you need water build trust: create a market for you understand investors’ incentives
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useful stuff
Culture is a competitive advantage takes time to gel we try: driven, smart, humble, fun
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useful stuff
Metrics be data driven but, not too much Iterate on bigger changes
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useful stuff
Product focus on bright spots be a relentless killing machine really know your customer
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useful stuff
At work trust + transparency + autonomy = performance feedback-based learning culture the journey has to be fun
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resources
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Get in touch [email protected] facebook.com/debow @ddebow
We’re hiring!
Useful? rypple.com/ddebow/sproutup
rypple.com/careers