sproutup and rypple

33
story & stuff daniel debow SproutUp Oct.20.2010

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SproutUp group talks about Rypple

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Page 1: SproutUp and Rypple

story & stuff daniel debow

SproutUp Oct.20.2010

Page 2: SproutUp and Rypple

background startup v1 startup v2 useful stuff m

y sp

iel

Page 3: SproutUp and Rypple

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

Page 4: SproutUp and Rypple

background/my partner

David Stein

McGill Comp Sci Workbrain co-founder, EVP, Chief Strategist

Rypple co-founder + co-CEO Oenophile

2 boys

Page 5: SproutUp and Rypple

STARTUP V1 the workbrain era

Page 6: SproutUp and Rypple

startup v1

workbrain where it all

started

Page 7: SproutUp and Rypple

startup v1

me & workbrain co-wrote the biz plan hired tons of people

sales ops, marketing, corp dev went public & got us sold

Page 8: SproutUp and Rypple

startup v1

sold in 2007 for $227MM

8

0 4 17

34

57

89 97

2000 2002 2004 2006

revenue (US$ MM)

Page 9: SproutUp and Rypple

startup v2

wanted post-workbrain high growth, high margin businesses

Page 10: SproutUp and Rypple

startup v2

a business screen software enabled peer-production

huge market change in channels

Page 11: SproutUp and Rypple

startup v2

a real problem not enough feedback at workbrain

Page 12: SproutUp and Rypple

STARTUP V2 the founding of rypple

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People hate performance reviews *Bersin Associates Research

75%

Page 14: SproutUp and Rypple

Proof of concept

startup v2

c-level buyin & quick adoption

Page 15: SproutUp and Rypple

startup v2

“Game changing management idea”

Page 16: SproutUp and Rypple

Seed financing

startup v2

$5M+ edgestone, peter thiel, & angels fund product/market fit

Page 17: SproutUp and Rypple

Early hires

startup v2

driven, smart, humble, fun general purpose initially, stars from workbrain

Page 18: SproutUp and Rypple

startup v2

1000’s of innovative tech & creative co’s Early users

Page 19: SproutUp and Rypple

Social software that makes feedback easy

startup v2

Page 20: SproutUp and Rypple

Series A

startup v2

$7M round lead by Bridgescale funds for scaling the machine

Page 21: SproutUp and Rypple

LITTLE BITS OF SEMI-USEFUL ADVICE What I’ve learnt so far

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Caveat “Nobody knows nothing.”

* William Goldman

Page 23: SproutUp and Rypple

useful stuff

Know yourself passion ! hobbies find teachers & mentors risk sucks. love risk.

Page 24: SproutUp and Rypple

useful stuff

Starting don’t believe your bull$#!% talk to lots of people iterate

Page 25: SproutUp and Rypple

useful stuff

Partnerships diff. strengths + viewpoints = great decisions great b/s detector …it’s a marriage

Page 26: SproutUp and Rypple

useful stuff

People #1 job – build a killer team A-players from the beginning exit gracefully, but exit

Page 27: SproutUp and Rypple

useful stuff

Money dig your well before you need water build trust: create a market for you understand investors’ incentives

Page 28: SproutUp and Rypple

useful stuff

Culture is a competitive advantage takes time to gel we try: driven, smart, humble, fun

Page 29: SproutUp and Rypple

useful stuff

Metrics be data driven but, not too much Iterate on bigger changes

Page 30: SproutUp and Rypple

useful stuff

Product focus on bright spots be a relentless killing machine really know your customer

Page 31: SproutUp and Rypple

useful stuff

At work trust + transparency + autonomy = performance feedback-based learning culture the journey has to be fun

Page 32: SproutUp and Rypple

resources

Page 33: SproutUp and Rypple

Get in touch [email protected] facebook.com/debow @ddebow

We’re hiring!

Useful? rypple.com/ddebow/sproutup

rypple.com/careers