20VC: The GoPuff Memo: Why 10-15 Minute Delivery is an Unsustainable Model, The Plan to Make GoPuff Profitable by 2024, Mistakes Made in Europe and What the Europe Plan Should Have Been and What Does Quick Commerce Look Like in 5 Years with Rafael Illisha

20VC: The GoPuff Memo: Why 10-15 Minute Delivery is an Unsustainable Model, The Plan to Make GoPuff Profitable by 2024, Mistakes Made in Europe and What the Europe Plan Should Have Been and What Does Quick Commerce Look Like in 5 Years with Rafael Illisha

Raf Illishayev is the Co-Founder and CEO @ GoPuff, one of the market leaders delivering daily essentials in minutes. GoPuff's latest funding round priced the company at a reported $8.9Bn in March 2021 and to date, Rafael has raised over $2.4Bn for the company from the likes of Accel, Softbank, Fidelity, Baillie Gifford, D1 Capital and more. Rafael has scaled the company to over 1/3 of the US with over 12,000 employees nationwide.

In Today's Episode with GoPuff's Rafael Ilishayev You Will Learn:

1.) From Student to Global CEO:

  • How Raf came up with the idea for GoPuff and started the company as a student with no funding?
  • What were the early signs of product-market fit that Raf observed in the early days?
  • In hindsight, does Raf wish they had raised external funding sooner than they did? What would raising external funding sooner have changed about the way they run the business?

2.) The Rise and Fall of Quick Commerce:

  • What are the core drivers that have led to capital drying up for players in the quick commerce space?
  • With the changing environment, is it a race to profitability for all providers in the space?
  • Is this the perfect time for GoPuff to acquire? What are the characteristics of businesses in the space that GoPuff would vs would not like to acquire?
  • How does Raf see the quick commerce space looking in 5 years time?

3.) Getting to Profitability: The Levers That Matter:

  • Customer Service: Why does Raf believe that all players pulling back on investing in customer service are making a massive mistake? What can be done instead?
  • Delivery Time: Why does Raf believe the 10-minute delivery model is fundamentally unprofitable? How do GoPuff approach it as a result?
  • Inventory: With a changing macro-environment, why does Raf believe it is prudent to focus more attention on alcohol and convenience goods? What do prior recessions show us about consumer spending patterns changing?
  • Metrics: What are the single most important metrics which dictate the speed of getting to profitability? Why is the amount of orders a driver can deliver per hour the most important metric?

4.) Business Expansion Opportunities:

  • How does Raf analyze the opportunity for GoPuff in Europe?
  • Why does Raf believe they should have pulled out of Spain much sooner? Why are they so focused on the UK now?
  • Why does Raf believe it is the right decision to stop investing in GoPuff pharmacy?
  • Why is Raf so bullish on GoPuff kitchens? How does the unit economics of the kitchens compare to the core business for GoPuff? What are the positive effects of kitchens on GoPuff core product?
  • What was the most recent disagreement the board has had when it comes to determining what to prioritize vs what not to?

Mentioned in Today's GoPuff Episode:

Raf's Mentor and Advisor: Emil Michael, Former Chief Business Officer @ Uber

Avsnitt(1388)

20 VC 004: David Hornik on the Magic of Stanford and Startups

20 VC 004: David Hornik on the Magic of Stanford and Startups

Welcome to Session 4 of The Twenty Minute VC, on today's incredible show, I am hugely excited to present David Hornik. David started his career as legal attorney to some of the hottest startups in Silicon Valley before making his foray into the Venture Capital Industry with August Capital in 2000. If that wasn't enough, David created the 1st Venture Capital blog, VentureBlog and is also the presenter of VentureCast. In today's episode you will learn: Why David made the transition from the legal world into the VC industry? What is so special about Stanford that enables a continuous flow of revlolutionary companies? Whether legal skills are attributable to the funding industry? What David looks for when investing in a company? Does it always have to be a big market opportunity for VCs to invest? What the best piece of business advice David has ever received? What book David would recommend to a Startup Founder? We then progress into a quick fire round where we hear David's views on Peter Thiel's 20 Under 20 and the 1st $Trillion business.

18 Jan 201522min

20 VC 003: Bob Ghoorah on Startups, The Pitch and Uber

20 VC 003: Bob Ghoorah on Startups, The Pitch and Uber

On today's episode I am thrilled to welcome Bob Ghoorah, Managing Director at Columubus Nova Technology Partners. Bob has experienced both sides of the table having been an early employee at three technology companies in Silicon Valley; LoudCloud (Nasdaq: LDCL), Opsware (Nasdaq: OPSW) and Ning, a privately-held software platform (sold to Glam Media in 2011). In this episode we find out: The benefits of having a legal knowledge in the Startup community. What characteristics make the best entrepreneurs? Who does Bob think of, when the word 'success' is mentioned and why? Where Bob sees the future of Uber? What aspects of a Startup are essential in order to obtain VC funding? Is it important for Startups to be located in Silicon Valley? What books Bob woulg give to an aspring entrepreneur and startup founder? What advice Bob would give to anyone looking to get into the Venture Capital Industry? Finally, we head to the quick fire round. Here, we get Bob's immediate reactions to the latests tech topics including tech bubble, company valuations and the first trillion dollar company. For all the resources mentioned in todays show head over to The Twenty Minute VC.

13 Jan 201522min

20 VC 002: How to become a VC with Kris Jones

20 VC 002: How to become a VC with Kris Jones

In this session of The Twenty Minute VC, I'm so excited to have the opportunity to interview Kris Jones. Kris has enjoyed an amazing career in the technology industry, founding PepperJam, an internet marketing agency in 1999 and later selling it to Ebay in April of 2010. More recently, Kris has made his transition into the Venture Capital Industry through the founding of an early stage technology investment fund, KBJ Capital, which includes portfolio companies Highlighter.com, French Girls App, ReferLocal.com, LSEO.com and many more incredible companies. In this session you'll learn: Why Kris decided to make the transition from the Startup ecosystem to the world of Venture Capital. How did it feel for Kris, selling his company to Ebay? What was the most important lesson Kris learnt in the journey from having the idea for PepperJam to being acquired by Ebay? What is the key characteristic a Founder must have? What can an individual do to get employed in the Venture Capital industry. Kris is also a prolific writer here are some of his articles, you can check out! Forbes: 15 Steps to Set Your Company Up for a Successful M&A Mashable: 9 Ways Social Media Marketing Will Change in 2014 Citibank: How to Impress a Potential Investor

13 Jan 201522min

20 VC 001: Guy Kawasaki of Apple, Motorola and AllTop.com

20 VC 001: Guy Kawasaki of Apple, Motorola and AllTop.com

Welcome to the 1st episode of The Twenty Minute VC, on today's show we have Guy Kawasaki, Guy is the Founding Partner of Garage Technology Ventures, a seed & early stage venture capital fund investing in extraordinary entrepreneurs with unique technologies. Previously, he was Chief Evangelist of Apple Inc and an advisor to the Motorala Business Unit of Google. Guy is also the author of many best selling books including the recent best seller, The Art of Social Media: Power Tips for Power Users. In this episode we delve into: Why Guy made the transition into the VC industry? What is the most important aspect for a startup to have? What drives Guy insane about startup founders today? What books Guy gives to aspiring entrepreneurs? What software & apps Guy cannot live without? We then finish on a quick fire round where we discover Guy's thoughts on the future of Amazon, Tesla and whether we really are in the midst of a tech bubble. All of the products mentioned in todays show can be found at www.thetwentyminutevc.com If you love the show, please do leave a review on the iTunes store and don't forget to subscribe!

13 Jan 201519min

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