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Superhuman’s Rahul Vohra explains how to optimize your startup’s products for lasting growth

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Superhuman co-founder and CEO Rahul Vohra joined us last week at TechCrunch Early Stage to provide an in-depth look at how he and his company worked to optimize and refine their product early to create a version of “growth hacking” that would not only help Superhuman attract users, but serve them best and retain them, too. Vohra articulated a system that other entrepreneurs should be able to apply to their own businesses, regardless of area or focus.

The only good hack isn’t a hack at all

Vohra started off by explaining that he’s happy to discuss anything relating to the early stages of startup growth (and welcomed DMs to his Twitter if you have any specific questions). He identified a number of key areas of concern early on in company-building, including growth, pricing and even traditional growth hacking, but he noted that one area of focus is more important than any other:

The most important of these is product-market fit. And this is sort of the standard disclaimer that anyone who you would ever talk to about growth would ever give you, which is you shouldn’t try and grow a thing that isn’t yet ready to grow.(Timestamp: 01:11)

Product-market fit is the No. 1 reason why startups succeed. And the lack of product-market fit is the No. 1 reason why startups fail.(Timestamp: 02:02)

Strong stuff, but Vohra backs up this assertion with endorsements from startup industry heavyweights like Paul Graham, Sam Altman and Marc Andreessen underlying the key importance of product-market fit — and prioritizing it early in a startup’s existence. Also, he points out that it can be easy to mistake the “feeling” of having good product-market fit as a leading indicator, when in fact it’s usually a lagging one.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://techcrunch.com/2021/07/14/superhumans-rahul-vohra-explains-how-to-optimize-your-startups-products-for-lasting-growth/

Startups

Zebra raises $1.1M in a pre-seed round for messaging that pairs photos with voice chat

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A new voice-based social app that cites Clubhouse as its biggest inspiration offers a playful new way to stay in touch with close friends and family. Zebra leaves video out of the equation altogether, inviting users to snap on-the-fly photos and send them off paired with casual voice updates.

Zebra focuses on asynchronous sharing, but it also lets users call one another if they’re both already hanging out on the app. The result is a fun and casual way to stay in touch for anyone who doesn’t feel like accidentally getting sucked into Instagram’s endless, ad-strewn feed every time they want to give a friend a quick update.

For now Zebra is a two-person team consisting of CEO Dennis Gecaj, a product designer based in Berlin and Amer Shahnawaz, Zebra’s Head of Engineering, who previously worked on Snap Maps at Snapchat. With the pre-seed funding, led by Alexis Ohanian’s fresh early stage venture firm Seven Seven Six, which the Reddit co-founder announced in June. The app will launch formally in August but is now open for pre-orders through the App Store and as a beta in TestFlight.

“It’s no secret that we are in the midst of an audio revolution, one that has ushered in a series of new audio-first social platforms and content vehicles,” Ohanian said, noting that Zebra’s unique blend of photos and voice is what caught his eye.

Gecaj sees voice-based social networking as a much richer alternative to text-dominant platforms. While products like Instagram allow voice messages and technically let users make voice calls by disabling the camera, voice usually plays second fiddle to video. But video calls are more taxing and require more commitment — it’s no coincidence more and more Zoom cameras blinked offline as the pandemic dragged on.

Unlike Clubhouse, which Gecaj calls a “huge inspiration, Zebra is social audio designed for your inner circle. “With everything opening back up we saw an incredible opportunity for an asynchronous format for that,” he told TechCrunch.

Gecaj hopes that Zebra’s “talking photos” can capture the collective imagination in a way that makes early growth natural. Anyone who downloads Zebra can invite friends individually without needing to share their full contact list (and they’ll need to since you can’t do anything on the app without friends). Because Zebra’s interface is so clean and streamlined, this process is painless and doesn’t necessitate any extra digging through menus.

The idea of a “zebra” — naturally, Zebra is trying to make “zebra” happen — is that people like to see what they are talking about. On a different messaging app, this would require sending a photo and then sending a voice message in quick succession. But on Zebra, sending a photo is the main thing you can do. The app opens right to the camera where you snap a picture. You then hold the photo to record a snippet of voice to go along with it and send it off to friends and family, who appear in a row beneath the camera.

Zebra isn’t worried about the prospect of talking people into downloading another app. Gecaj sees a natural split emerging as creators and audiences increasingly become the focus of social platforms that were initially designed to help friends stay in touch.

“I think the trend is a division between creator platforms where you go to be entertained and platforms you go to hang out with your friends,” Gecaj told TechCrunch.

On top of that, he hopes that Zebra’s dual focus on voice and photos, two aspects of social networking that platforms either don’t prioritize or are actively abandoning, can make it appealing for people who aren’t as interested in video.

“We really also think that text messaging doesn’t have the same emotion as voice… and voice has been really neglected,” Gecaj said. “There’s really a richness to voice, a power to voice that nothing else has.”

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://techcrunch.com/2021/07/21/zebra-voice-messaging-photos-ohanian-seven-seven-six/

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Startups

Zebra raises $1.1M in a pre-seed round for a messaging app that pairs photos with voice chat

Published

on

A new voice-based social app that cites Clubhouse as its biggest inspiration offers a playful new way to stay in touch with close friends and family. Zebra leaves video out of the equation altogether, inviting users to snap on-the-fly photos and send them off paired with casual voice updates.

Zebra focuses on asynchronous sharing, but it also lets users call one another if they’re both already hanging out on the app. The result is a fun and casual way to stay in touch for anyone who doesn’t feel like accidentally getting sucked into Instagram’s endless, ad-strewn feed every time they want to give a friend a quick update.

For now Zebra is a two-person team consisting of CEO Dennis Gecaj, a product designer based in Berlin and Amer Shahnawaz, Zebra’s Head of Engineering, who previously worked on Snap Maps at Snapchat. With the pre-seed funding, led by Alexis Ohanian’s fresh early stage venture firm Seven Seven Six, which the Reddit co-founder announced in June. The app will launch formally in August but is now open for pre-orders through the App Store and as a beta in TestFlight.

“It’s no secret that we are in the midst of an audio revolution, one that has ushered in a series of new audio-first social platforms and content vehicles,” Ohanian said, noting that Zebra’s unique blend of photos and voice is what caught his eye.

Gecaj sees voice-based social networking as a much richer alternative to text-dominant platforms. While products like Instagram allow voice messages and technically let users make voice calls by disabling the camera, voice usually plays second fiddle to video. But video calls are more taxing and require more commitment — it’s no coincidence more and more Zoom cameras blinked offline as the pandemic dragged on.

Unlike Clubhouse, which Gecaj calls a “huge inspiration, Zebra is social audio designed for your inner circle. “With everything opening back up we saw an incredible opportunity for an asynchronous format for that,” he told TechCrunch.

Gecaj hopes that Zebra’s “talking photos” can capture the collective imagination in a way that makes early growth natural. Anyone who downloads Zebra can invite friends individually without needing to share their full contact list (and they’ll need to since you can’t do anything on the app without friends). Because Zebra’s interface is so clean and streamlined, this process is painless and doesn’t necessitate any extra digging through menus.

The idea of a “zebra” — naturally, Zebra is trying to make “zebra” happen — is that people like to see what they are talking about. On a different messaging app, this would require sending a photo and then sending a voice message in quick succession. But on Zebra, sending a photo is the main thing you can do. The app opens right to the camera where you snap a picture. You then hold the photo to record a snippet of voice to go along with it and send it off to friends and family, who appear in a row beneath the camera.

Zebra isn’t worried about the prospect of talking people into downloading another app. Gecaj sees a natural split emerging as creators and audiences increasingly become the focus of social platforms that were initially designed to help friends stay in touch.

“I think the trend is a division between creator platforms where you go to be entertained and platforms you go to hang out with your friends,” Gecaj told TechCrunch.

On top of that, he hopes that Zebra’s dual focus on voice and photos, two aspects of social networking that platforms either don’t prioritize or are actively abandoning, can make it appealing for people who aren’t as interested in video.

“We really also think that text messaging doesn’t have the same emotion as voice… and voice has been really neglected,” Gecaj said. “There’s really a richness to voice, a power to voice that nothing else has.”

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://techcrunch.com/2021/07/21/zebra-voice-messaging-photos-ohanian-seven-seven-six/

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Startups

i80 Group has quietly committed $1B in credit to the fintech and proptech worlds

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Not every startup wants to raise venture capital. And then there are those that do want to raise VC money but don’t want to use it for specific things.

In recent years, a number of firms have emerged looking to meet the credit needs of such venture-backed and growth startups: i80 Group is one of those firms.

Former Goldman Sachs investment banker Marc Helwani founded i80 in 2016 after investing in early-stage New York-based fintechs in 2014-2015 via his VC fund, Avenue A Ventures.

“It became very clear to me that fintech was going to explode,” he recalls. “At that time, it was still relatively new. And every time I spoke to a company, they would tell me, ‘We know how to raise VC, but what about the credit?’ I just saw this white space.”

For example, proptechs that buy homes on behalf of buyers don’t want to use venture money. Fintechs that want to make loans to consumers don’t want to use equity to do it. Instead, in those cases, credit might be more desirable.

Enter i80. The firm offers credit exclusively, and over the years has quietly committed more than $1 billion to over 15 companies –including real estate marketplace Properly, finance app MoneyLion and SaaS financing company Capchase — that have all raised a significant amount of venture capital but are looking for credit “to help them scale very efficiently and in a non-dilutive manner so they can retain more ownership of their companies,” Helwani said. 

Its $1 billion milestone follows fund commitments nearing $500 million from an unnamed “leading global asset manager” as well as other institutional and retail investors.

Image Credits: Founder and Chief Investment Officer Marc Helwani / i80 Group

I80 — which derives its name from the highway that connects New York and San Francisco — is mainly focused on the fintech and proptech sectors. 

“They are the two centers for the venture ecosystem,” Helwani said. “And we’re trying to be a bridge between those two cities.” I80 has offices in both locations and will soon be opening one in Montreal.

The firm works in conjunction with VC firms such as a16z (more formally known as Andreessen Horowitz); Affirm and PayPal co-founder Max Levchin’s SciFi; Khosla Ventures; Union Square Ventures; and QED.

“In a perfect world, venture capital would be called venture equity,” Helwani said. “VCs’ capital is critical for companies to hire and get office space. But when it comes time to do what the actual business is, such as provide loans or buy homes, capital like ours is very accretive without VCs and management losing ownership in the business. In these cases, using both credit and equity makes a lot of sense.”

Helwani is reluctant to call what i80 offers venture “debt.” He says that has a very specific connotation and is what Silicon Valley Bank and others like it do in providing debt as a percentage of a previous equity round. Instead, according to Helwani, i80’s approach is to minimize fees. The vast majority of its deals are “interest-rate related.”

“With mortgages, for example, we never think about the fees upfront, and focus more on the interest rate,” Helwan said. “We believe the more transparent we are, the more companies will want to work with us.”

I80 conducts quarterly calls with VCs and for now, that’s how it typically sources most of its deal flow. It also gets referrals. Helwani believes that i80 stands out from other firms also offering credit in that it’s “not trying to be credit investors in VC clothing.”

He also thinks that the fact that the i80 team is made of operators, as well as investors, is a contributing factor.

The firm is set to close another half a dozen deals in the next 60 to 90 days, and then plans to set its sights on raising more capital.

“We want to fill this void, and help companies raise money in their subsequent rounds at higher valuations,” Helwani said.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://techcrunch.com/2021/07/21/i80-group-1b-in-credit/

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Startups

i80 Group has quietly committed $1B in credit to the fintech and proptech worlds

Published

on

Not every startup wants to raise venture capital. And then there are those that do want to raise VC money but don’t want to use it for specific things.

In recent years, a number of firms have emerged looking to meet the credit needs of such venture-backed and growth startups: i80 Group is one of those firms.

Former Goldman Sachs investment banker Marc Helwani founded i80 in 2016 after investing in early-stage New York-based fintechs in 2014-2015 via his VC fund, Avenue A Ventures.

“It became very clear to me that fintech was going to explode,” he recalls. “At that time, it was still relatively new. And every time I spoke to a company, they would tell me, ‘We know how to raise VC, but what about the credit?’ I just saw this white space.”

For example, proptechs that buy homes on behalf of buyers don’t want to use venture money. Fintechs that want to make loans to consumers don’t want to use equity to do it. Instead, in those cases, credit might be more desirable.

Enter i80. The firm offers credit exclusively, and over the years has quietly committed more than $1 billion to over 15 companies –including real estate marketplace Properly, finance app MoneyLion and SaaS financing company Capchase — that have all raised a significant amount of venture capital but are looking for credit “to help them scale very efficiently and in a non-dilutive manner so they can retain more ownership of their companies,” Helwani said. 

Its $1 billion milestone follows fund commitments nearing $500 million from an unnamed “leading global asset manager” as well as other institutional and retail investors.

Image Credits: Founder and Chief Investment Officer Marc Helwani / i80 Group

I80 — which derives its name from the highway that connects New York and San Francisco — is mainly focused on the fintech and proptech sectors. 

“They are the two centers for the venture ecosystem,” Helwani said. “And we’re trying to be a bridge between those two cities.” I80 has offices in both locations and will soon be opening one in Montreal.

The firm works in conjunction with VC firms such as a16z (more formally known as Andreessen Horowitz); Affirm and PayPal co-founder Max Levchin’s SciFi; Khosla Ventures; Union Square Ventures; and QED.

“In a perfect world, venture capital would be called venture equity,” Helwani said. “VCs’ capital is critical for companies to hire and get office space. But when it comes time to do what the actual business is, such as provide loans or buy homes, capital like ours is very accretive without VCs and management losing ownership in the business. In these cases, using both credit and equity makes a lot of sense.”

Helwani is reluctant to call what i80 offers venture “debt.” He says that has a very specific connotation and is what Silicon Valley Bank and others like it do in providing debt as a percentage of a previous equity round. Instead, according to Helwani, i80’s approach is to minimize fees. The vast majority of its deals are “interest-rate related.”

“With mortgages, for example, we never think about the fees upfront, and focus more on the interest rate,” Helwan said. “We believe the more transparent we are, the more companies will want to work with us.”

I80 conducts quarterly calls with VCs and for now, that’s how it typically sources most of its deal flow. It also gets referrals. Helwani believes that i80 stands out from other firms also offering credit in that it’s “not trying to be credit investors in VC clothing.”

He also thinks that the fact that the i80 team is made of operators, as well as investors, is a contributing factor.

The firm is set to close another half a dozen deals in the next 60 to 90 days, and then plans to set its sights on raising more capital.

“We want to fill this void, and help companies raise money in their subsequent rounds at higher valuations,” Helwani said.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://techcrunch.com/2021/07/21/i80-group-1b-in-credit/

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