#startups, #VC, #Innovation #cbinsights
Friday, April 19, 2019
Sunday, April 14, 2019
Wednesday, March 27, 2019
Sunday, March 10, 2019
It’s about timing.....
In 1999, Pets.com sought to capitalize on widespread internet access and a $23B pet supplies market by selling products directly to consumers.
They raised $50M funding - to be spent on marketing - By the time Pets.com went public with an $82.5M IPO in February 2000, it had lost $61.8M on $5.8M in sales.
Pets.com had 570,000 customers, with its costly marketing operation spending about $158 for every new customer .
And then the tech boom bible burst and boom - that saw them as well as Value America, Garden.com, and Mortgage.com die and liquidate!
History would prove that its value proposition — selling pet supplies to consumers online — was ahead of its time.
The next decade saw the cost of ecommerce and digital marketing reduce dramatically, and people with access to broadband jump from 48m to 232m.
With lower costs and a bigger market to sell to, new online pet supplies retailers emerged - and Chewy.com, for example, was acquired by PetSmart for $3.35B in 2017. It was the biggest e-commerce acquisition in history.
The lesson ....
“The early bird gets the worm - but the second mouse gets the cheese! “
Wednesday, March 06, 2019
- 2,153 billionaires,
- 55 fewer than a year ago.
- 994, or 46%, are poorer (relatively speaking) than they were last year.
- Total wealth $8.7 trillion, down $400 billion from 2018.
- 11% of last year’s list members, or 247 people, dropped out of the ranks, the most since 2009 at the height of the global financial crisis.
- 195 new billionaires joine the ranks
- Asia-Pacific was hardest hit, with 60 fewer 10-figure fortunes. That dip was led by China, which has 49 fewer billionaires than a year ago.
- Europe, the Middle East and Africa also lost ground. The Americas, driven by a resurgent Brazil, and the U.S. are the only two regions that have more billionaires than they did a year ago.
- There are 607 billionaires in the U.S. That includes 14 of the world’s 20 richest.
- Jeff Bezos is again number 1 in the world, followed by Bill Gates at number 2.
- The richest newcomer is Colin Huang, the founder of Chinese discount web retailer Pinduoduo, which went public in the U.S. in July.
- Other notable new entrants include Spotify’s Daniel Ek and Martin Lorentzon; Juul Labs' James Monsees and Adam Bowen, Kind Bar’s Daniel Lubetzky and cosmetics wunderkind Kylie Jenner, who is the world’s youngest billionaire at age 21.
- 7 of the top 20 billionaires have come from technology - Microsoft, Google, Oracle, Snapchat, Stripe, Tencent
- in 2004 there were 497 billionaires and in 2019 there were 2153 billionaires
Thursday, February 28, 2019
Tuesday, February 26, 2019
Rapyd, a fintech founded by CEO Arik Shtilman 4 years ago has raised $40 million in series B funding from Stripe and General Catalyst and others , to further expand its operations worldwide.
What Rapyd does
Rapyd helps companies and merchants of all sizes integrate a range of payment services into their platforms, and operates on a fintech-as-a-service model. It offers a technology stack that provides support for financial, payment, mobile wallet, and money movement services through a single API.
The Rapyd solution provides a single point of reconciliation and settlement of all funds across 65 currencies and the ability to pay out in over 170 countries.
Using Rapyd’s technology, a company can enable support for payments in over 100 countries, via more than 500 locally supported payment methods — such as direct deposits to banks, local cards, and mobile wallets —
What the money will be used for
The Capital is going to be used to expand to more markets across the Americas and Europe, Middle East, Africa (EMEA) and Asia-Pacific (APAC) regions and to further develop its infrastructure.
Stripe CEO Patrick Collison sees a big demand for Rapyd’s services. “The challenge of enabling local payments on a global scale is critical for the continued growth in worldwide commerce. We are excited by Rapyd’s vision and believe they are solving a significant challenge that will help to increase the GDP of the internet,”
Both Stripe and Rapyd are portfolio companies of Entrée Capital
Founded in 2009, Entrée manages more than $300 million across a number of funds and its portfolio includes the likes of SnapChat, Stripe, Deliveroo, Prospa, monday.com, Riskified, HouseParty, Stash, PillPack, SeatGeek, Coupang and over 50 other investments.
Managing partner of the fund Avi Eyal picked fintech as a growth industry in 2015! Was definitely the right call!