It may seem like the right time to launch a SaaS startup, but the landscape is littered with well-designed applications that promise “blazingly fast and deliciously simple” experiences, according to start-up investor John Chen of Fika Ventures.
Most SaaS startups will fail, but not because of a bitter marketing campaign or server downtime. The majority of these companies will fall victim to what Chen calls “the myth of frictionless integration”.
Despite the hype about ease of use, companies still ask customers to ditch familiar tools so they can learn something new.
“Just like with a new fitness program, participants feel great after they finish training, but it takes a lot of activation energy to get started and hard work to get there,” Chen notes.
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Instead of leaving the responsibility for customers to roll up their sleeves, he suggests that SaaS startups learn about the culture of cryptocurrency and find ways to “get people to do the work needed to have the right experience.”
But how do you encourage users to spend the time and effort necessary to produce the best customer experience?
“In a world where there are a surplus of alternatives for every task at hand, the scarce resource is not content, tools or tips,” Chen explains. “It’s attention.”
We are leaving on Monday May 31st for Memorial Day; Hope you have a restful weekend!
Debunking the myths around throwing your first check
As startups and venture capital grow in tandem, fundraising has grown from a formal affair on Sand Hill Road to a process that can take place anywhere from Twitter to Zoom.
While fundraising may no longer require a trip to California, it may depend on whether you received an invitation to a private audio app. And while you might not need to be an insider, second-time founders – largely male and white – still have a competitive edge.
The growing complexity of fundraising has the opportunity to make technology inclusive or exclusive.
Venture capital is the flashy gold medal, but the rapid growth of emerging fund managers means that a first check can be fragmented from a variety of different sources. The financing options are seemingly endless: unions, public crowdfunding, venture capitalists, accelerators, debt financing, working capital and, for the profitable few, startups.
Doximity’s S-1 may explain why healthcare exits are heating up
Telehealth startup Doximity filed for publication earlier today. Notably, the company hasn’t raised funds since 2014, a year in which it pulled in just under $ 82 million for a valuation of $ 355 million, per PitchBook data.
How did she manage not to raise money for so long? By generating a lot of money and profit over the years. It turns out that healthcare technology communications can be a lucrative business.
What Vimeo’s Growth, Profits and Value Tell Us About the Online Video Market
The spin-out of IAC’s Vimeo video platform ended this week, and the smaller company now trades as an independent entity under the symbol “VMEO”.
If you’ve missed the news that the Internet conglomerate is running video service, don’t feel bad; he slipped in front of many radars. But with the company negotiating now, our access to its historic results, and our minds still enthralled with YouTube’s recent financial performance for Alphabet, it’s worth taking a moment to digest the health of the company.
Flywire IPO suggests IPO slowdown is behind us
Flywire’s IPO is interesting from a financial standpoint and notable in that it is a Boston exit as opposed to another New York or San Francisco based IPO. It’s nice to see other cities putting dots on the board.
But more than that, this IPO is a useful measuring tool for keeping an eye on the IPO market as a whole. This year and the last are shaping up to be key release times for startups and unicorns of all shapes and sizes; many of the returns of venture capital funds are based on these public beginnings.
Dear Sophie: Unique immigration strategies for quick hiring?
I recruit for tech startups. With an increase in venture capital investments, many startups are urgently hiring.
Which visas offer the fastest options for international talent? Are there any unique strategies that you would recommend that we explore?
– Maverick to Milpitas
7 questions to ask yourself before relocating your startup to Florida
Cities like Miami, Pittsburgh and Austin have been attracting talent and wealth from Silicon Valley for years, but the COVID-19 pandemic has accelerated the trend.
In recent months, many investors and entrepreneurs have left loudly for Miami, citing the favorable business climate and quality of life in the region.
It’s always good to consider your options, but before booking a moving van to the Sunshine State – or any other emerging tech hub, for that matter – here are some basic questions entrepreneurs should ask themselves.
Vise CEO Samir Vasavada and Sequoia’s Shaun Maguire break down the art of the field
In just a few short years, Vise went from a launch on the stage of Disrupt Battlefield to a unicorn. Co-founders Samir Vasavada and Runik Mehrotra met Sequoia’s Shaun Maguire at an after-party at the event, and Maguire ended up leading a seed and Series A while Sequoia led Series B.
Last week, Vise raised its Series C to $ 65 million and was officially valued at $ 1 billion after money.
We told the pair about the early fundraising process for Vise, what Vasavada learned about how to pitch a good fundraising pitch, and what stands out from the pitch and product for Maguire.
Acorns SPAC List Describes Consumer Fintech Company With SaaSy Revenue Mix
Another day another unicorn public offering.
Thursday was Acorns, a consumer fintech service that combines savings and investment in a freemium product.
Acorns is part of the biggest savings and investment boom seen in the past four or five quarters as consumers rocked by economic changes brought on by COVID-19 turned to cash storage and increasing their rate of investment in equities.
Right now, this is old news, but we haven’t had a clear picture of the economy of mainstream fintech startups being accelerated by the pandemic. Now that Acorns has decided to list via a SPAC – more on that in a moment – we are doing it.
Poor integration is the enemy of good hiring
The hybrid world of work is here, and the usual 10-minute introductory call, sack of goodies, and day one team lunch just aren’t enough to make your new hire feel welcome.
While many companies have found a way to interview and select candidates in a completely remote environment, few have dedicated the time and resources to aligning the ‘pre-board’ and onboarding process for the new hybrid world. work. Many employers still rely on old methods of welcoming new employees, despite our totally changed work environment.
It is important to capitalize on candidate enthusiasm and eagerness from the moment they sign the offer rather than when they log in on day one, as first impressions can make or break a candidate’s chances of staying. In a company.