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His startup Cameo was a unicorn—until it crashed 90%. Here's how he went from near-bankrupt to profitable again. | Steven Galanis, Founder of Cameo

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Manage episode 449759863 series 3298391
Το περιεχόμενο παρέχεται από το Mistral.vc. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Mistral.vc ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.

Cameo is one of the best-known recent consumer startups. You've either used it or know someone who's used it to get famous people to create personalized videos. And, for a while, they were a total rocket ship.
Year 1: $300K GMV
Year 2: $4M
Year 3: $20M
Year 4: $100M
They were backed by Jeremy Liew, the VC who seeded Snapchat in 2012. Cameo became a unicorn in 2021. But as the markets turned, revenue decreased, investor interest waned, and their valuation dropped from $1B to $100M. After the restructuring and the layoffs, Steven found a way to turn things around.
Now the company is profitable again. And growing.
Here's how he did it.
Why you should listen:

  • Why you don't need liquidity to launch a marketplace.
  • How to hack your way to a successful marketplace launch.
  • Why organic growth is the way to grow a marketplace.
  • How to turn things around after your valuation crashes by 90%.

Keywords
Cameo, startup, entrepreneurship, product-market fit, celebrity endorsements, marketplace growth, business strategy, VC funding, early-stage startups, innovation, Cameo, gifting, unicorn status, Chicago startup, engagement, COVID-19 impact, business diversification, down rounds, product-market fit
Timestamps:
(00:00:00) Intro
(00:02:46) Where The Idea for Cameo Came From
(00:11:54) The Client Interface of Cameo in the Early Days
(00:14:12) The Failed launch that Could've Ended it All
(00:21:23) Gaining Momentum
(00:25:37) The Math Behind Cameo
(00:31:27) Becoming a Unicorn
(00:34:34) Meeting Jeremy Liew (the VC who backed Snapchat)
(00:40:47) Engagement on the Platform
(00:43:00) The Impact of Covid
(00:56:06) Finding Product Market Fit
(00:56:30) One Piece of Advice
Send me a message to let me know what you think!

  continue reading

Κεφάλαια

1. His startup Cameo was a unicorn—until it crashed 90%. Here's how he went from near-bankrupt to profitable again. | Steven Galanis, Founder of Cameo (00:00:00)

2. Where The Idea for Cameo Came From (00:02:46)

3. The Client Interface of Cameo in the Early Days (00:11:54)

4. The Failed launch that Could've Ended it All (00:14:12)

5. Gaining Momentum (00:21:23)

6. The Math Behind Cameo (00:25:37)

7. Becoming a Unicorn (00:31:27)

8. Meeting Jeremy Liew (the VC who backed Snapchat) (00:34:34)

9. Engagement on the Platform (00:40:47)

10. The Impact of Covid (00:43:00)

11. Finding Product Market Fit (00:56:06)

12. One Piece of Advice (00:56:30)

144 επεισόδια

Artwork
iconΜοίρασέ το
 
Manage episode 449759863 series 3298391
Το περιεχόμενο παρέχεται από το Mistral.vc. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Mistral.vc ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.

Cameo is one of the best-known recent consumer startups. You've either used it or know someone who's used it to get famous people to create personalized videos. And, for a while, they were a total rocket ship.
Year 1: $300K GMV
Year 2: $4M
Year 3: $20M
Year 4: $100M
They were backed by Jeremy Liew, the VC who seeded Snapchat in 2012. Cameo became a unicorn in 2021. But as the markets turned, revenue decreased, investor interest waned, and their valuation dropped from $1B to $100M. After the restructuring and the layoffs, Steven found a way to turn things around.
Now the company is profitable again. And growing.
Here's how he did it.
Why you should listen:

  • Why you don't need liquidity to launch a marketplace.
  • How to hack your way to a successful marketplace launch.
  • Why organic growth is the way to grow a marketplace.
  • How to turn things around after your valuation crashes by 90%.

Keywords
Cameo, startup, entrepreneurship, product-market fit, celebrity endorsements, marketplace growth, business strategy, VC funding, early-stage startups, innovation, Cameo, gifting, unicorn status, Chicago startup, engagement, COVID-19 impact, business diversification, down rounds, product-market fit
Timestamps:
(00:00:00) Intro
(00:02:46) Where The Idea for Cameo Came From
(00:11:54) The Client Interface of Cameo in the Early Days
(00:14:12) The Failed launch that Could've Ended it All
(00:21:23) Gaining Momentum
(00:25:37) The Math Behind Cameo
(00:31:27) Becoming a Unicorn
(00:34:34) Meeting Jeremy Liew (the VC who backed Snapchat)
(00:40:47) Engagement on the Platform
(00:43:00) The Impact of Covid
(00:56:06) Finding Product Market Fit
(00:56:30) One Piece of Advice
Send me a message to let me know what you think!

  continue reading

Κεφάλαια

1. His startup Cameo was a unicorn—until it crashed 90%. Here's how he went from near-bankrupt to profitable again. | Steven Galanis, Founder of Cameo (00:00:00)

2. Where The Idea for Cameo Came From (00:02:46)

3. The Client Interface of Cameo in the Early Days (00:11:54)

4. The Failed launch that Could've Ended it All (00:14:12)

5. Gaining Momentum (00:21:23)

6. The Math Behind Cameo (00:25:37)

7. Becoming a Unicorn (00:31:27)

8. Meeting Jeremy Liew (the VC who backed Snapchat) (00:34:34)

9. Engagement on the Platform (00:40:47)

10. The Impact of Covid (00:43:00)

11. Finding Product Market Fit (00:56:06)

12. One Piece of Advice (00:56:30)

144 επεισόδια

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