THE PODCAST
Lessons from Raising $22 Million & Failing (Shruti Shah, Move Loot) - Get Sh!t Done Podcast
Here’s what you’ll learn from Shruti Shah, founder of Move Loot:
Dangers of growth for growth's sake.
Pivoting away from the original model to raise more capital that decreased revenue nearly 7X.
What led to growing a team 3X & laying off 1/2 a month later.
Why she’s creating a founder-friendly fund around alternative financing.
“We raised our seed round of $2.8M in 2 1/2 weeks”
Sounds sexy, right?
One of the saddest things I see from some founders is an excessive focus on fundraising as their “saving grace”. Yet, they have no traction or lack a clear path forward to generate traction.
Many founders are wasting their time finding investors because A. They haven't de-risked the investment through traction or B. They aren't VC-backable.
Even the best founders and teams fail but they had traction where investors were willing to take the risk like Shruti Shah. -Her company was generating $30K MRR when they raised a seed of $2.8M in 2.5 weeks. -A Chinese billionaire CAME TO HER to offer $11M for Series A. -She went through YC.
Did checks guarantee success? Nope.
Shruti spills the tea and more importantly her lessons from scaling and failing: -Dangers of growth for growth's sake. -Pivoting away from the original model to raise more capital that decreased revenue nearly 7X. -What led to growing a team 3X & laying off 1/2 a month later. -Why she’s creating a founder-friendly fund around alternative financing.
About Shruti Shah She is an advisor, investor, consultant, and coach who works closely with early-stage startup founders as they work to scale their businesses. She's in the process of launching a new fund that has developed a new model to fund startups. She was most recently an Entrepreneur in Residence at Silicon Valley Bank where she worked with the early-stage practice team on strategic partnerships. She was previously the co-founder and COO of Y Combinator-backed Move Loot, an online full-service marketplace for buying and selling used furniture, where she led the national expansion and general business operations. Over the course of three years, she and her co-founding team raised $22 million dollars to scale the business across the United States. Move Loot was featured in numerous publications including Forbes, TechCrunch, Bloomberg Business Week, CNN, TIME, Fortune, and more.
#getsshitdonepodcast #shegetsshitdone
Listen on Apple Podcasts
Listen on Spotify
Listen on other Platforms.
Ready to Join the F*ck 4% Movement?
Here’s how you can Get Sh!t Done and scale successfully on your own terms today…
Join the Tribe List here
Apply to the Accelerator here.
Take a Superpower Scaling School Course here.
Become a Get Sh!t Done Queen. Join the Membership Waiting List here.
Rachel Renock: How to Raise $6 Million from Investors (Founder, Wethos) - Get Sh!t Done Podcast
Learn from Rachel Renock , founder of Wethos on how women entreprenurs can:
How to do due diligence
How to study investors -“Friendly” cyberstalking ;)
And more…
I have $1M to spare. Said no one EVER!!!
Rachel Renock, Founder of Wethos, raised her 1st $1M (At the time. She has now raised millions more) She didn't know any investors. Not long after launching without much money, without coming from money, without going to a fancy school, and without much access to getting in touch with investors beyond Twitter.
In this episode, we dig into Rachel's approach and some of the strategies/tactics she's used to raise capital like:
-Doing due diligence -Studying investors -“Friendly” cyberstalking ;) Amongst a few other genius things to get in front of investors. Rachel focuses on making strong connections and positive impacts, which in the investing world can be hard to come by. Get that money queen! #shegetsshitdone
Listen on Apple Podcasts
Listen on Spotify
Listen on other Platforms.
Ready to Join the F*ck 4% Movement?
Here’s how you can Get Sh!t Done and scale successfully on your own terms today…
Join the Tribe List here
Apply to the Accelerator here.
Take a Superpower Scaling School Course here.
Become a Get Sh!t Done Queen. Join the Membership Waiting List here.