How To Build a Consumer Unicorn

ConsumerUnicorns:Theartofbuildingbilliondollarstartups

@saraannet@mavenvc

SaraThomas

AboutMeandMavenVentures

Sara Thomas

•  Founded in 2013 by Jim Scheinman

•  Consumer software hyper-growth

•  Seed fund and incubator

•  6-8 investments per year

•  3 exits + 19 active companies

Maven Ventures Principal @ Maven Ventures •  8 years investing in and supporting

startups

AboutMaven

Our portfolio: a few examples

InCaseYouMissedIt…

PartI:TopTenTipsforSuccessinConsumerTech

1.Avisionworthfightingfor

Doestheproblemreallyneedfixing?

BewareofRoadKill

Hacker Designer Hustler

2.Foundingteam

3.Culture

Culture:anexample

Mission Maven is the premier incubator and early stage investor for hyper-growth consumer founders

Values 1.  Collaborative: We are not political, willing to share praise, and honest and transparent

with each other. We put the team and company first. 2.  No jerks: We are happy, positive, and fun to work with. 3.  Accountable: We are high-performing, get stuff done, and value attention to detail. 4.  Curious: We are always willing to learn. We are knowledgeable and strive to be experts in

our field. 5.  Self-starters: We take initiative, work autonomously, and are resourceful.

4.Product/marketfit

5.Growthhacking

WhatisGrowthHacking?

The process of acquiring new customers through:

•  Data-driven marketing

•  Creative (often free/ unpaid) strategies and channels

•  Organized experimentation

•  Cross-functional work by engineering, product, and marketing

Growthhacking:focus

Growthhacking:findyour“onemetricthatmatters”

Weekly Active Re-Pinner “WARP”

Net Deposits (Deposits – Withdrawals)

7 Friends in 7 Days

Nosilverbullet

6.Language/marketfit

IAgree

Language/marketfit

Skiggle vs.

7.Focus

8.Mentorwhiplash

9.Investors

10.Luckandtiming

Recap

1.  A vision worth fighting for 2.  Founding team 3.  Culture 4.  Product/market fit 5.  Growth hacking 6.  Language/market fit 7.  Focus 8.  Mentor whiplash 9.  Investors 10.  Luck and timing

PartII:ThoughtsonToday’sMarket

TheBad…

•  Valuations are contracting

•  Longer lead time for raising funding

•  1.5 to 2x+ the number of investor pitches required

•  Investors more cautious in some areas– they’re considering who are the likely sources of the next round when making a funding decision

TheGood!

•  Great companies get funded in tough markets

•  Be on the lookout for strong draft picks (especially engineers) from other companies

•  Watching your cash burn now will set your company up for more success in the future

•  Passion prevails (and rubberneckers don’t)

Stayintouch!

@saraannet@mavenvc

sara@mavenventures.com