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A startup founder’s experience
Nicola Junior Vitto
MUSTer Fior Di Risorse @ H-Farm - Roncade (TV), Italy
June 6th, 2014
Monday, June 30, 14
Entrepreneurship
Monday, June 30, 14
...Entrepreneurs recognize they are
going to have to follow their own internal
compass and embrace the uncertainty
as part of the journey.
- Steve Blank -
more on: http://steveblank.com/2009/06/29/agile-opportunism-entrepreneurial-dna/
Entrepreneurship
Monday, June 30, 14
A startup is first of all an experiment, it
is a human institution designed to
deliver a new product or service under
conditions of extreme uncertainty
At its heart, a startup is a catalyst that
transforms ideas into products.
(From Lessons Learned blog by Eric Ries)
What’s a startup?
Monday, June 30, 14
Lean startup is a rigorous process
for iterating from Plan A
to a plan that works.
(by Ash Maurya)
What’s a lean startup?
Monday, June 30, 14
Get out of the building
Your business assumptions can be wrong
Go out and speak with your customers
Monday, June 30, 14
The Enemy
Entrepreneurship has
a single enemy that’s called...
Monday, June 30, 14
The Enemy
Entrepreneurship has
a single enemy that’s called...
FEAR
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Approaching
first VCs
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Approaching
first VCs
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Approaching
first VCs
Found a
Co-Founder
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Approaching
first VCs
Found a
Co-Founder
0 Users ~0 Users
Presentations
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Approaching
first VCs
Found a
Co-Founder
0 Users ~0 Users
Landing Page
+ MVP
+ Cust Dev
Presentations
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Approaching
first VCs
Found a
Co-Founder
Alpha
Version
0 Users ~0 Users
Landing Page
+ MVP
+ Cust Dev
Presentations
Monday, June 30, 14
Sales driven by Merchant, With Our E-Commerce Widgets
SaaS E-Commerce platform for long tail users
Your Website Your BlogYour FB PageYour Shop
Monday, June 30, 14
E-Commerce Widgets
Shop on blomming.com
and widgets for Websites, Blogs, Facebook pages
Monday, June 30, 14
Merchant Website
Monday, June 30, 14
Shop On Merchant Website
Monday, June 30, 14
Shop On Merchant FB Page
Monday, June 30, 14
Shop On Blomming.com
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Approaching
first VCs
Found a
Co-Founder Alpha
Version
0 Users ~0 Users
Presentations
Landing Page
+ MVP
+ Cust Dev
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Approaching
first VCs
Found a
Co-Founder Alpha
Version
0 Users ~0 Users
Presentations
Found a
Co-Founder
Landing Page
+ MVP
+ Cust Dev
Found a
Partner
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Approaching
first VCs
Found a
Co-Founder Alpha
Version
0 Users ~0 Users
3 working full-time
+ 1 part-time
Presentations
Found a
Co-Founder
Landing Page
+ MVP
+ Cust Dev
Found a
Partner
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Approaching
first VCs
Found a
Co-Founder Alpha
Version
0 Users ~0 Users ~1k Users ~3k Users
3 working full-time
+ 1 part-time
Presentations
Dev + Press & Achievements
+ PR + Fundraising
Found a
Co-Founder
Landing Page
+ MVP
+ Cust Dev
Found a
Partner
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Approaching
first VCs
Found a
Co-Founder Alpha
Version
0 Users ~0 Users ~1k Users ~3k Users
3 working full-time
+ 1 part-time
Beta
Version
Presentations
Dev + Press & Achievements
+ PR + Fundraising
Found a
Co-Founder
Landing Page
+ MVP
+ Cust Dev
Found a
Partner
Monday, June 30, 14
Sales driven by Merchant, With Our E-Commerce Widgets
SaaS E-Commerce platform for long tail users
Social
Marketplace
Sales driven
by Blomming
Your Website Your BlogYour FB PageYour Shop
Monday, June 30, 14
Sales driven by Blomming
Blomming Web Marketplace, Blomming mobile app,
Blomming APIs and Social Affiliation Network
Monday, June 30, 14
Blomming Marketplace
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Approaching
first VCs
Alpha
Version
0 Users ~0 Users ~1k Users ~3k Users
3 working full-time
+ 1 part-time
Presentations
Dev + Press & Achievements
+ PR + Fundraising
Found a
Co-Founder
Found a
Co-Founder
Landing Page
+ MVP
+ Cust Dev
Found a
Partner
Beta
Version
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Approaching
first VCs
Alpha
Version
0 Users ~0 Users ~1k Users ~3k Users
3 working full-time
+ 1 part-time
VC Funding
Presentations
Dev + Press & Achievements
+ PR + Fundraising
Found a
Co-Founder
Found a
Co-Founder
Landing Page
+ MVP
+ Cust Dev
Found a
Partner
Beta
Version
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Approaching
first VCs
Alpha
Version
0 Users ~0 Users ~1k Users ~3k Users
3 working full-time
+ 1 part-time
VC Funding
Presentations
Dev + Press & Achievements
+ PR + Fundraising
Found a
Co-Founder
Found a
Co-Founder
Landing Page
+ MVP
+ Cust Dev
Found a
Partner
Beta
Version
Team scaled to
10 people in 2
months
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Approaching
first VCs
Alpha
Version
0 Users ~0 Users ~1k Users ~3k Users
3 working full-time
+ 1 part-time
~15k Users
VC Funding
Presentations
Dev + Press & Achievements
+ PR + Fundraising
Found a
Co-Founder
Found a
Co-Founder
Landing Page
+ MVP
+ Cust Dev
Found a
Partner
Beta
Version
Team scaled to
10 people in 2
months
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Approaching
first VCs
Alpha
Version
0 Users ~0 Users ~1k Users ~3k Users
3 working full-time
+ 1 part-time
~15k Users
VC Funding
Presentations
Dev + Press & Achievements
+ PR + Fundraising
Version 1.0
Found a
Co-Founder
Found a
Co-Founder
Landing Page
+ MVP
+ Cust Dev
Found a
Partner
Beta
Version
Team scaled to
10 people in 2
months
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Approaching
first VCs
Alpha
Version
0 Users ~0 Users ~1k Users ~3k Users
3 working full-time
+ 1 part-time
~15k Users
VC Funding
Presentations
Dev + Press & Achievements
+ PR + Fundraising
Version 1.0
Just
Marketing :)
Found a
Co-Founder
Found a
Co-Founder
Landing Page
+ MVP
+ Cust Dev
Found a
Partner
Beta
Version
Team scaled to
10 people in 2
months
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Approaching
first VCs
Alpha
Version
0 Users ~0 Users ~1k Users ~3k Users
3 working full-time
+ 1 part-time
~15k Users
Many (micro) releases:
~700/year
VC Funding
Presentations
Dev + Press & Achievements
+ PR + Fundraising
Hard Work + Many iterations &
Releases + Business Model
~40k Users
Version 1.0
First
Business
Model
Just
Marketing :)
Found a
Co-Founder
Found a
Co-Founder
Landing Page
+ MVP
+ Cust Dev
Found a
Partner
Beta
Version
Team scaled to
10 people in 2
months
Monday, June 30, 14
Sales driven by Merchant, With Our E-Commerce Widgets
SaaS E-Commerce platform for long tail users
Social
Marketplace
Mobile App
APIs
Sales driven
by Blomming
Sales driven
by our Community
Your Website Your BlogYour FB PageYour Shop
Social Affiliation
Monday, June 30, 14
Blomming Mobile App
Monday, June 30, 14
Sales driven by our
Community
Social Affiliation & Social Shopping
Monday, June 30, 14
Promoters (bloggers, online publishers, social
media lovers) curate collections of products
following their taste and interests...
Social Affiliation
Monday, June 30, 14
... they share those products / collections
with their communities...
Social Affiliation
Monday, June 30, 14
Blogs
Websites
Facebook
Other
...or create real Shops
on their online points of presence...
Social Affiliation
Monday, June 30, 14
...and gain a commission
in case of a sale
Social Affiliation
E-Commerce meets Advertising!
Monday, June 30, 14
Buy from our unique Sellers and get the
cashback on selected items
Social Shopping
Monday, June 30, 14
First Business Model
E-Commerce
Widgets (sales
driven by merchant)
Sales driven by
Blomming
4% $14,99/m
Merchant chooses the rev. share
(min. 5%)
Sales driven by
Promoters
Merchant chooses the rev. share
(min. 5%)
50% Promoter / 50% Blomming
OR
Blomming is FREE up to $240 of sales
Monday, June 30, 14
“Cool Vendor in E-Commerce 2012” (Apr 2012)
“Innovative Niche E-Commerce Providers to Watch” (Aug12)
National Innovation Award 2012
Best E-Tailer - Best Pure Online Player, 2012
Top 10 most promising Italian Start-up (Dec 2013)
For a complete review please see http://www.blomming.com/about
Many Achievements
Monday, June 30, 14
First Business Model
E-Commerce
Widgets (sales
driven by merchant)
Sales driven by
Blomming
4% $14,99/m
Merchant chooses the rev. share
(min. 5%)
Sales driven by
Promoters
Merchant chooses the rev. share
(min. 5%)
50% Promoter / 50% Blomming
OR
Blomming is FREE up to $240 of sales
Monday, June 30, 14
Lesson Learned
Never invent a new
Business Model
Monday, June 30, 14
Lesson Learned
Never invent a new
Business Model
Your startup is already
enough difficult as-is! :-)
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Approaching
first VCs
Found a
Co-Founder
Alpha
Version
0 Users ~0 Users ~1k Users ~3k Users
Beta
Version
~15k Users
Many (micro) releases:
~700/year
Presentations
Dev + Press & Achievements
+ PR + Fundraising
Hard Work + Many iterations &
Releases + Business Model
~40k Users
Version 1.0
First
Business
Model
Just
Marketing :)
3 working full-time
+ 1 part-time
Found a
Co-Founder
Landing Page
+ MVP
+ Cust Dev
Found a
Partner VC Funding
Team scaled to
10 people in 2
months
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Approaching
first VCs
Found a
Co-Founder
Alpha
Version
0 Users ~0 Users ~1k Users ~3k Users
Beta
Version
~15k Users
Many (micro) releases:
~700/year
Presentations
Dev + Press & Achievements
+ PR + Fundraising
Hard Work + Many iterations &
Releases + Business Model
~40k Users
Version 1.0
First
Business
Model
Just
Marketing :)
3 working full-time
+ 1 part-time
Found a
Co-Founder
Landing Page
+ MVP
+ Cust Dev
Found a
Partner VC Funding
Team scaled to
10 people in 2
months
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Approaching
first VCs
Found a
Co-Founder
Alpha
Version
0 Users ~0 Users ~1k Users ~3k Users
Beta
Version
~15k Users
Many (micro) releases:
~700/year
Presentations
Dev + Press & Achievements
+ PR + Fundraising
Hard Work + Many iterations &
Releases + Business Model
~40k Users
Version 1.0
First
Business
Model
Just
Marketing :)
Many tests
of Business
Models
3 working full-time
+ 1 part-time
Found a
Co-Founder
Landing Page
+ MVP
+ Cust Dev
Found a
Partner VC Funding
Team scaled to
10 people in 2
months
Monday, June 30, 14
Timeline
2009 2010 2011 2012 2013 2014
Approaching
first VCs
Found a
Co-Founder
Alpha
Version
0 Users ~0 Users ~1k Users ~3k Users
Beta
Version
~15k Users
Many (micro) releases:
~700/year
Presentations
Dev + Press & Achievements
+ PR + Fundraising
Hard Work + Many iterations &
Releases + Business Model
~40k Users ~85k Users
Version 1.0
First
Business
Model
Just
Marketing :)
Many tests
of Business
Models
New Business
Model
3 working full-time
+ 1 part-time
Found a
Co-Founder
Landing Page
+ MVP
+ Cust Dev
Found a
Partner VC Funding
Team scaled to
10 people in 2
months
Monday, June 30, 14
Blomming =
software tool
Sales driven
by merchant
Blomming =
Marketing tool
Sales driven
by Blomming
Subscription Plans
with 15 days free trial:
Basic: € 19,99/m - € 199,99/y
Premium: € 24,99/m - € 249,99/y
Every merchant can optionally
choose to sell on our Marketing
or our Affiliation network setting
a revenue share (min. 5%)
Started on April, 18th 2014
Current Business Model
Monday, June 30, 14
Current Business Model
Monday, June 30, 14
Past
1999 - 2002 2002 - 2008 20091990 - 1998
Monday, June 30, 14
Past
1999 - 2002 2002 - 2008 20091990 - 1998
Monday, June 30, 14
Past
1999 - 2002 2002 - 2008 20091990 - 1998
Too young
Monday, June 30, 14
Past
1999 - 2002 2002 - 2008 20091990 - 1998
Too young
@Study: Computer
Science Engineering
Monday, June 30, 14
Past
1999 - 2002 2002 - 2008 20091990 - 1998
Too young
@Study: Computer
Science Engineering
Monday, June 30, 14
Past
1999 - 2002 2002 - 2008 20091990 - 1998
Too young
0 Co-Founders
+ No Focus
+ No Experience
@Study: Computer
Science Engineering
Monday, June 30, 14
Past
1999 - 2002 2002 - 2008 20091990 - 1998
Too young
0 Co-Founders
+ No Focus
+ No Experience
@Study: Computer
Science Engineering
@Work: Many roles in
different companies
Monday, June 30, 14
Past
1999 - 2002 2002 - 2008 20091990 - 1998
Too young
0 Co-Founders
+ No Focus
+ No Experience
@Study: Computer
Science Engineering
@Work: Many roles in
different companies
Experience
Monday, June 30, 14
Past
1999 - 2002 2002 - 2008 20091990 - 1998
Too young
0 Co-Founders
+ No Focus
+ No Experience
@Study: Computer
Science Engineering
@Work: Many roles in
different companies
Experience
Monday, June 30, 14
Past
1999 - 2002 2002 - 2008 20091990 - 1998
Too young
0 Co-Founders
+ No Focus
+ No Experience
@Study: Computer
Science Engineering
@Work: Many roles in
different companies
Experience
Monday, June 30, 14
Past
1999 - 2002 2002 - 2008 20091990 - 1998
Too young
0 Co-Founders
+ No Focus
+ No Experience
@Study: Computer
Science Engineering
@Work: Many roles in
different companies
Experience
More
Experience!!!
Monday, June 30, 14
Past
1999 - 2002 2002 - 2008 20091990 - 1998
Too young
0 Co-Founders
+ No Focus
+ No Experience
@Study: Computer
Science Engineering
@Work: Many roles in
different companies
Experience
More
Experience!!!
Monday, June 30, 14
Past
1999 - 2002 2002 - 2008 20091990 - 1998
Too young
0 Co-Founders
+ No Focus
+ No Experience
@Study: Computer
Science Engineering
@Work: Many roles in
different companies
Experience
More
Experience!!!
Monday, June 30, 14
Past
1999 - 2002 2002 - 2008 20091990 - 1998
Too young
0 Co-Founders
+ No Focus
+ No Experience
@Study: Computer
Science Engineering
@Work: Many roles in
different companies
Experience
More
Experience!!!
Monday, June 30, 14
Future
Monday, June 30, 14
Future
Focus on:
Profitability
Value = Money
Cash (Flow) is king
Monday, June 30, 14
www.blomming.com
Facebook.com/njvitto
Twitter.com/njvitto
Linkedin.com/in/nicolajuniorvitto
nicola@blomming.com
Thanks!
Monday, June 30, 14

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Building Blomming: A startup founder's experience

  • 1. A startup founder’s experience Nicola Junior Vitto MUSTer Fior Di Risorse @ H-Farm - Roncade (TV), Italy June 6th, 2014 Monday, June 30, 14
  • 3. ...Entrepreneurs recognize they are going to have to follow their own internal compass and embrace the uncertainty as part of the journey. - Steve Blank - more on: http://steveblank.com/2009/06/29/agile-opportunism-entrepreneurial-dna/ Entrepreneurship Monday, June 30, 14
  • 4. A startup is first of all an experiment, it is a human institution designed to deliver a new product or service under conditions of extreme uncertainty At its heart, a startup is a catalyst that transforms ideas into products. (From Lessons Learned blog by Eric Ries) What’s a startup? Monday, June 30, 14
  • 5. Lean startup is a rigorous process for iterating from Plan A to a plan that works. (by Ash Maurya) What’s a lean startup? Monday, June 30, 14
  • 6. Get out of the building Your business assumptions can be wrong Go out and speak with your customers Monday, June 30, 14
  • 7. The Enemy Entrepreneurship has a single enemy that’s called... Monday, June 30, 14
  • 8. The Enemy Entrepreneurship has a single enemy that’s called... FEAR Monday, June 30, 14
  • 9. Timeline 2009 2010 2011 2012 2013 2014 Monday, June 30, 14
  • 10. Timeline 2009 2010 2011 2012 2013 2014 Monday, June 30, 14
  • 11. Timeline 2009 2010 2011 2012 2013 2014 Monday, June 30, 14
  • 12. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Monday, June 30, 14
  • 13. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Monday, June 30, 14
  • 14. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder Monday, June 30, 14
  • 15. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder 0 Users ~0 Users Presentations Monday, June 30, 14
  • 16. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder 0 Users ~0 Users Landing Page + MVP + Cust Dev Presentations Monday, June 30, 14
  • 17. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder Alpha Version 0 Users ~0 Users Landing Page + MVP + Cust Dev Presentations Monday, June 30, 14
  • 18. Sales driven by Merchant, With Our E-Commerce Widgets SaaS E-Commerce platform for long tail users Your Website Your BlogYour FB PageYour Shop Monday, June 30, 14
  • 19. E-Commerce Widgets Shop on blomming.com and widgets for Websites, Blogs, Facebook pages Monday, June 30, 14
  • 21. Shop On Merchant Website Monday, June 30, 14
  • 22. Shop On Merchant FB Page Monday, June 30, 14
  • 24. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder Alpha Version 0 Users ~0 Users Presentations Landing Page + MVP + Cust Dev Monday, June 30, 14
  • 25. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder Alpha Version 0 Users ~0 Users Presentations Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner Monday, June 30, 14
  • 26. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder Alpha Version 0 Users ~0 Users 3 working full-time + 1 part-time Presentations Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner Monday, June 30, 14
  • 27. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder Alpha Version 0 Users ~0 Users ~1k Users ~3k Users 3 working full-time + 1 part-time Presentations Dev + Press & Achievements + PR + Fundraising Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner Monday, June 30, 14
  • 28. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder Alpha Version 0 Users ~0 Users ~1k Users ~3k Users 3 working full-time + 1 part-time Beta Version Presentations Dev + Press & Achievements + PR + Fundraising Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner Monday, June 30, 14
  • 29. Sales driven by Merchant, With Our E-Commerce Widgets SaaS E-Commerce platform for long tail users Social Marketplace Sales driven by Blomming Your Website Your BlogYour FB PageYour Shop Monday, June 30, 14
  • 30. Sales driven by Blomming Blomming Web Marketplace, Blomming mobile app, Blomming APIs and Social Affiliation Network Monday, June 30, 14
  • 32. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Alpha Version 0 Users ~0 Users ~1k Users ~3k Users 3 working full-time + 1 part-time Presentations Dev + Press & Achievements + PR + Fundraising Found a Co-Founder Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner Beta Version Monday, June 30, 14
  • 33. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Alpha Version 0 Users ~0 Users ~1k Users ~3k Users 3 working full-time + 1 part-time VC Funding Presentations Dev + Press & Achievements + PR + Fundraising Found a Co-Founder Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner Beta Version Monday, June 30, 14
  • 34. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Alpha Version 0 Users ~0 Users ~1k Users ~3k Users 3 working full-time + 1 part-time VC Funding Presentations Dev + Press & Achievements + PR + Fundraising Found a Co-Founder Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner Beta Version Team scaled to 10 people in 2 months Monday, June 30, 14
  • 35. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Alpha Version 0 Users ~0 Users ~1k Users ~3k Users 3 working full-time + 1 part-time ~15k Users VC Funding Presentations Dev + Press & Achievements + PR + Fundraising Found a Co-Founder Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner Beta Version Team scaled to 10 people in 2 months Monday, June 30, 14
  • 36. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Alpha Version 0 Users ~0 Users ~1k Users ~3k Users 3 working full-time + 1 part-time ~15k Users VC Funding Presentations Dev + Press & Achievements + PR + Fundraising Version 1.0 Found a Co-Founder Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner Beta Version Team scaled to 10 people in 2 months Monday, June 30, 14
  • 37. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Alpha Version 0 Users ~0 Users ~1k Users ~3k Users 3 working full-time + 1 part-time ~15k Users VC Funding Presentations Dev + Press & Achievements + PR + Fundraising Version 1.0 Just Marketing :) Found a Co-Founder Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner Beta Version Team scaled to 10 people in 2 months Monday, June 30, 14
  • 38. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Alpha Version 0 Users ~0 Users ~1k Users ~3k Users 3 working full-time + 1 part-time ~15k Users Many (micro) releases: ~700/year VC Funding Presentations Dev + Press & Achievements + PR + Fundraising Hard Work + Many iterations & Releases + Business Model ~40k Users Version 1.0 First Business Model Just Marketing :) Found a Co-Founder Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner Beta Version Team scaled to 10 people in 2 months Monday, June 30, 14
  • 39. Sales driven by Merchant, With Our E-Commerce Widgets SaaS E-Commerce platform for long tail users Social Marketplace Mobile App APIs Sales driven by Blomming Sales driven by our Community Your Website Your BlogYour FB PageYour Shop Social Affiliation Monday, June 30, 14
  • 41. Sales driven by our Community Social Affiliation & Social Shopping Monday, June 30, 14
  • 42. Promoters (bloggers, online publishers, social media lovers) curate collections of products following their taste and interests... Social Affiliation Monday, June 30, 14
  • 43. ... they share those products / collections with their communities... Social Affiliation Monday, June 30, 14
  • 44. Blogs Websites Facebook Other ...or create real Shops on their online points of presence... Social Affiliation Monday, June 30, 14
  • 45. ...and gain a commission in case of a sale Social Affiliation E-Commerce meets Advertising! Monday, June 30, 14
  • 46. Buy from our unique Sellers and get the cashback on selected items Social Shopping Monday, June 30, 14
  • 47. First Business Model E-Commerce Widgets (sales driven by merchant) Sales driven by Blomming 4% $14,99/m Merchant chooses the rev. share (min. 5%) Sales driven by Promoters Merchant chooses the rev. share (min. 5%) 50% Promoter / 50% Blomming OR Blomming is FREE up to $240 of sales Monday, June 30, 14
  • 48. “Cool Vendor in E-Commerce 2012” (Apr 2012) “Innovative Niche E-Commerce Providers to Watch” (Aug12) National Innovation Award 2012 Best E-Tailer - Best Pure Online Player, 2012 Top 10 most promising Italian Start-up (Dec 2013) For a complete review please see http://www.blomming.com/about Many Achievements Monday, June 30, 14
  • 49. First Business Model E-Commerce Widgets (sales driven by merchant) Sales driven by Blomming 4% $14,99/m Merchant chooses the rev. share (min. 5%) Sales driven by Promoters Merchant chooses the rev. share (min. 5%) 50% Promoter / 50% Blomming OR Blomming is FREE up to $240 of sales Monday, June 30, 14
  • 50. Lesson Learned Never invent a new Business Model Monday, June 30, 14
  • 51. Lesson Learned Never invent a new Business Model Your startup is already enough difficult as-is! :-) Monday, June 30, 14
  • 52. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder Alpha Version 0 Users ~0 Users ~1k Users ~3k Users Beta Version ~15k Users Many (micro) releases: ~700/year Presentations Dev + Press & Achievements + PR + Fundraising Hard Work + Many iterations & Releases + Business Model ~40k Users Version 1.0 First Business Model Just Marketing :) 3 working full-time + 1 part-time Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner VC Funding Team scaled to 10 people in 2 months Monday, June 30, 14
  • 53. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder Alpha Version 0 Users ~0 Users ~1k Users ~3k Users Beta Version ~15k Users Many (micro) releases: ~700/year Presentations Dev + Press & Achievements + PR + Fundraising Hard Work + Many iterations & Releases + Business Model ~40k Users Version 1.0 First Business Model Just Marketing :) 3 working full-time + 1 part-time Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner VC Funding Team scaled to 10 people in 2 months Monday, June 30, 14
  • 54. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder Alpha Version 0 Users ~0 Users ~1k Users ~3k Users Beta Version ~15k Users Many (micro) releases: ~700/year Presentations Dev + Press & Achievements + PR + Fundraising Hard Work + Many iterations & Releases + Business Model ~40k Users Version 1.0 First Business Model Just Marketing :) Many tests of Business Models 3 working full-time + 1 part-time Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner VC Funding Team scaled to 10 people in 2 months Monday, June 30, 14
  • 55. Timeline 2009 2010 2011 2012 2013 2014 Approaching first VCs Found a Co-Founder Alpha Version 0 Users ~0 Users ~1k Users ~3k Users Beta Version ~15k Users Many (micro) releases: ~700/year Presentations Dev + Press & Achievements + PR + Fundraising Hard Work + Many iterations & Releases + Business Model ~40k Users ~85k Users Version 1.0 First Business Model Just Marketing :) Many tests of Business Models New Business Model 3 working full-time + 1 part-time Found a Co-Founder Landing Page + MVP + Cust Dev Found a Partner VC Funding Team scaled to 10 people in 2 months Monday, June 30, 14
  • 56. Blomming = software tool Sales driven by merchant Blomming = Marketing tool Sales driven by Blomming Subscription Plans with 15 days free trial: Basic: € 19,99/m - € 199,99/y Premium: € 24,99/m - € 249,99/y Every merchant can optionally choose to sell on our Marketing or our Affiliation network setting a revenue share (min. 5%) Started on April, 18th 2014 Current Business Model Monday, June 30, 14
  • 58. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Monday, June 30, 14
  • 59. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Monday, June 30, 14
  • 60. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young Monday, June 30, 14
  • 61. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young @Study: Computer Science Engineering Monday, June 30, 14
  • 62. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young @Study: Computer Science Engineering Monday, June 30, 14
  • 63. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young 0 Co-Founders + No Focus + No Experience @Study: Computer Science Engineering Monday, June 30, 14
  • 64. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young 0 Co-Founders + No Focus + No Experience @Study: Computer Science Engineering @Work: Many roles in different companies Monday, June 30, 14
  • 65. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young 0 Co-Founders + No Focus + No Experience @Study: Computer Science Engineering @Work: Many roles in different companies Experience Monday, June 30, 14
  • 66. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young 0 Co-Founders + No Focus + No Experience @Study: Computer Science Engineering @Work: Many roles in different companies Experience Monday, June 30, 14
  • 67. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young 0 Co-Founders + No Focus + No Experience @Study: Computer Science Engineering @Work: Many roles in different companies Experience Monday, June 30, 14
  • 68. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young 0 Co-Founders + No Focus + No Experience @Study: Computer Science Engineering @Work: Many roles in different companies Experience More Experience!!! Monday, June 30, 14
  • 69. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young 0 Co-Founders + No Focus + No Experience @Study: Computer Science Engineering @Work: Many roles in different companies Experience More Experience!!! Monday, June 30, 14
  • 70. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young 0 Co-Founders + No Focus + No Experience @Study: Computer Science Engineering @Work: Many roles in different companies Experience More Experience!!! Monday, June 30, 14
  • 71. Past 1999 - 2002 2002 - 2008 20091990 - 1998 Too young 0 Co-Founders + No Focus + No Experience @Study: Computer Science Engineering @Work: Many roles in different companies Experience More Experience!!! Monday, June 30, 14
  • 73. Future Focus on: Profitability Value = Money Cash (Flow) is king Monday, June 30, 14