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The story of where the idea for Makerble came from and how Matt Kepple got there. See you on Makerble! http://makerble.launchrock.com NEXT VIDEO: Matt talks to ideas consultant Mathias Vestergaard about innovation culture: http://youtu.be/YYNBztGuty4 - awards - networking - funding - saving - consulting - rejection - iterations - advisors - market research
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STORY OF A STARTUPFOUNDER & CEO @MATTKEPPLETWITTER: @MAKERBLE #TECHCITY
@MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE
• Where the idea came from• The Idea • Making It
CHANGE THE WORLD YOUR WAY
@MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE
CHANGE THE WORLD YOUR WAY
CHANGE THE WORLD YOUR WAY
@MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE
Idea 2003. Launched 2004. Ran until 2007.
Won Channel4 IDEASFACTORY Award for PR & Marketing
Reached final of the Whitbread Young Achiever of the Year Award
Awarded with Fellowship of the prestigious British society, the RSA
2005
@MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE
The Idea
CHANGE THE WORLD YOUR WAY
There’s a desire to change the world within each of us
Charity staff and charity donors are both motivated to address the issues they care about
But what donors don’t see is the day to day progress that staff get to experience
And if this progress was visible, people would be inspired to give more and the number of people giving would rise
9.5million latent donors, £665million/year available in extra donationsSource: New Philanthropy Capital Money For Good report, UK Giving Green Paper
As a team we’ve seen this happen before£25 average donation, 22-35 year olds, 40 projects, £80,000, member-
get-member marketing, repeat attendees, charities earned loyaltyMatt Kepple, Annabel Dickson (Makerble) and friends co-founded the Youth Funding Network, www.ytfn.org - 2008-2013
There’s a growing appetite for transparency among donors
“I don’t donate money to charity because I’m not confident that my donation won’t
be wasted.
That’s why I volunteer my time instead because that way I see the direct impact of
what I put in”HSBC Investment Manager, aged 30-35, male
Source: Makerble interviews
But often our day-to-day lives get in the way
Telling the story of change, not selling the story of changeMakerble has a library of charitable projects described in the
Help (need) | Make (method, budget) | Change (impact) format
Users (Makers) select the causes they care about Makerble tailors a personalised stream of projects
matching the user’s interests for their monthly donation to fund.
Change is reported on the Maker’s Change TimelinePersonalised monthly email newsletter | Mobile app notifications
Makers have a Change Score which equates to their total impact across all the projects they’ve ever made possible
Automatically published to the Maker’s social network2.85 new Makers recruited per original Maker
50% Makers activate FB connect x 190 Facebook Friends x 3% signup rate
has provided nursery places
to 3 orphans in Romania. You can help Ahmed make even more change!
Giving Makers the option to subscribe to individual charities, meaning they will always have a project from that charity in
their Makerble Stream
Makerble is a revolutionary tool putting people in control of their positive global impact like never before. Our marketing reflects the breadth of interest in Makerble and we have
staff assigned to these areas.
PR EMPLOYEES EVERYWHERE
SUB CULTURES
SOCIAL MEDIA
BRANDED VOUCHERS
National media targets
Resolving the frustration in charity giving
Seeking celebrity Makers
Individual departments within companies can impact their choice of causes with a Makerble Bundle that is linked to the company’s Makerble Page
Exploring partnership with intermediary organisation to reach the Top 100 graduate employers
Big market: Only 2% of firms use Payroll Giving
University Student Reps: engaging students directly and giving societies to their own Bundles
Entertainment venues: clubs, bars, restaurants
Hobbyists: e.g. members of Meetup.com groups can impact their choice of causes with a Makerble Bundle
Seeded campaign video
Earned Media: Makers’ Change Stories published to their social networks
Owned Media: charities can engage existing supporters, e.g. using Makerble Charity Facebook App, email newsletter, etc.
Brands distribute match-funding vouchers to their customers to support their own choice of projects or projects highlighted by the brand.
Breakeven: 40,000 subscribers at £10/month[0.5% market share of 9.5million people market]
Monthly Burn: £20k[£9k Biz Dev, £6k Tech, £5k Ops]
Amount Requested: Round 1: £25k for 12% equity beta launch Oct-Dec 2013Round 2: £250k for 14% equity for 9 month runway Q1-Q3 2014
Convio tech company servicing charities primarily in USA enabling them to use the internet. NASDAQ IPO in 2010. Trade sale 2012.
Acquirer Blackbaud supplier of software to nonprofits. On NASDAQ.
Pre Q4 2013Seed Round:3months runway
Pre Q1 2014Scale-up Round:9months runway
(Equity dilution)
Pre Q1 2015Series A Round: 12 months international team(equity dilution)
2018IPO, Trade Sale, Shares sale.Company Valuation: £300million
Friends Group £25k12% stake
(6% stake) (3% stake) Return: £9million. 360x yield
Angel Investors and £100k match-funding
£250k14% stake
(7% stake) Return: £21million. 84x yield.
VC £2.5million30% stake
Return: £90million.36x yield.
Founders 88% stake (80% stake) (60% stake)
We forecast Year 5 global EBITDA of £50million: a 0.1% market share of $60billion global fundraising services market
6x EBITDA multiple: Equity Valuation of £300millionConvio sold to Blackbaud in 2012 for $385million
@MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE
Making It
CHANGE THE WORLD YOUR WAY
@MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE
Piloting
CHANGE THE WORLD YOUR WAY
• Learn cheaply• Gives you success• Gives you a story• Chain of events
@MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE
Piloting
CHANGE THE WORLD YOUR WAY
• Top 100 Global Young Social Entrepreneurs - Kuala Lumpur• The RSA• Social Enterprise Ambassador appointed by The Cabinet Office
@MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE
Funding
CHANGE THE WORLD YOUR WAY
DON’T LET PERFECTION BECOME THE ENEMY OF THE GOOD
• UnLtd £5k grant
@MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE
CHANGE THE WORLD YOUR WAY
@MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE
Funding
CHANGE THE WORLD YOUR WAY
IF YOU’RE ABLE TO START A START-UP, YOU’RE PROBABLY ALREADY BRINGING A NEW DIMENSION TO YOUR INDUSTRY
• Consulting to grow your savings• Rejection is standard• Feedback from honest friends• £100,000 Match Funding• £10k Start-up Loan
@MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE
UX
CHANGE THE WORLD YOUR WAY
HOW DO YOU WANT PEOPLE TO FEEL WHEN THEY INTERACT WITH YOUR BRAND?
@MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE
CHANGE THE WORLD YOUR WAY
@MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE
CHANGE THE WORLD YOUR WAY
@MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE
CHANGE THE WORLD YOUR WAY
@MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE
CHANGE THE WORLD YOUR WAY
15 iterations later
@MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE
CHANGE THE WORLD YOUR WAY
@MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE
Market Research
CHANGE THE WORLD YOUR WAY
• Turn authors of research reports and books into Advisors• Do your own Interviews• Write your own Surveys e.g. Google Survey 1000 people £100
@MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE
Team
CHANGE THE WORLD YOUR WAY
• Harness your networks• Always get involved in the things you love• Work for free to build your networks and grow your experience
@MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE
CHANGE THE WORLD YOUR WAY
(We already knew each other)
Because I’d founded Gradulicious, I was invited to join the Connectors. There I met Rajeeb Dey,
attended his Enternships.com launch party, met Chris Busch, was invited to join Sandbox, emailed Sandbox for developer recommendations, found
Sebastien! He is working on a significantly discounted fee.
Summer 2012 I began commenting on blogs and articles online related to charity fundraising to
share my perspective on where Makerble would be taking the industry. Liam read about me on the Guardian. He was a senior partner at a marketing agency and called me because he was setting up his own consultancy TrueUp.co.uk and wanted to do some pro bono work. He invented Makerble’s
Lifestyle Checkout.
In 2005 I worked in advertising. In 2006 my ad agency recommended I work with a tech agency.
That tech agency recommended I work with a design agency. That agency is Rawww founded by
Theo who has given Makerble £10k of design work on credit until we raise investment.
I received an award for Wahblo from UnLtd. They sent me a random email about a girl – Annabel – who wanted to organise pop-up crowd-funding events for undiscovered charities. I got in touch and co-founded YTFN.org with her. She’s now handling all Makerble’s charity relationships.
In first year of uni I played the role of Tyrone in FAME The Musical. Some friends hadn’t got in so I
organised Musical Theatre Workshops for more students to participate. Through that I met Kate Campbell who ran the largest fundraising events
for the charity society. She now handles Makerble’s marketing.
I met Kate Gault on a pre-advertising course for graduates. We were both placed at DLKW and
then when I left we both worked together in our spare time to build a prototype website for an
idea we had called Graduate Flatmates. Kate then worked went up the ranks in advertising and now
handles Makerble’s relationships with brands.
I received a grant from an organisation called UnLtd for Wahblo. They labelled me one of their
top 21 young social entrepreneurs and put me on a 1-week course I reluctantly attended. There I
met Ahmed and we then co-founded the Commission for Youth Social Enterprise. Ahmed is
now Makerble’s Commercial Director.
@MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE
Culture
CHANGE THE WORLD YOUR WAY
• Create a canvas not a painting• Don’t believe the hype• If a solution doesn’t exist, make one. It is ‘makerble’
NEXT VIDEO: Matt talks to ideas consultant Mathias Vestergaard about innovation culture:http://youtu.be/YYNBztGuty4
@MAKERBLE #CROYDON #TECHCITY @MATTKEPPLE
Thank You Croydon Tech City. See you on Makerble!http://makerble.launchrock.com
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