VENTUREPRENEURS @WORK

Jan Henric BuettnerKiev, IDCEE 2013

GETTING STARTED

2

...in 7 easy steps!

STEP 1 AND 2

3

STEP 3 AND 4

4

STEP 5 AND 6

5

STEP 7

6

WHAT DOES IT TAKE TO GET STARTED?

7

Building Blocks for Success

Attractive Opportunity

•Timely•Feasible•Important•Profitable•Favorable context

Good People & Team

•Passion•Interest•Commit-ment•Curiosity•Risk taking

Sufficient Resources

•Skills & Capabilities•Financing•Network•Dynamic Capabilities

HOW DO COMPANIES GROW UP?

8

Adizes Organizational Lifecycles ™

Courtship

Infancy

Adolescence

Prime

Stable

Aristocracy

Recrimination

Bureaucracy

Death

Premature Aging

Unfulfilled Entrepreneur

Founder or Family Trap

Infant Mortality

Affair

Divorce

9

Most Startups do not end as they started.

PIVOTING AND ADAPTING

THE FOUR STEPS TO EPIPHANY

10

1. Synchronize customer development with product development

2. Acquire early evangelist customers

3. Get to hear the bad news early

4. Find the right business model

GET TO HEAR THE BAD NEWS EARLY!

11

Synchronize Product Development...

... with Customer Development !

Concept/Business Plan

Product Development

Alpha/Beta Test

Launch/ 1st Ship

Customer Discovery

Customer Validation

Customer Creation

Company Building

FIND THE RIGHT BUSINESS MODEL

12

Any company can be described in 9 building blocks

(1) CUSTOMER SEGMENTS(2) VALUE PROPOSITIONS

13

Which customers are you serving? Which jobs do they really want to get done? What are you offering them? What are you getting done for them? Do they care?

(3) CHANNELS

14

How does each customer segment want to be reached? Through which interaction points?

(4) CUSTOMER RELATIONSHIPS(5) REVENUE STREAMS

15

What relationships are you establishing with each segment? Personal/Automated? Acquisitive/Retentive? What are your customers really willing to pay for? How?

Are you generating transactional or recurring revenues?

(6) KEY RESOURCES(7) KEY ACTIVITIES

16

Which resources underpin your business model? Which assets are essential?Which activities do you need to perform well? What is crucial?

(8) KEY PARTNERS(9) COST STRUCTURE

17

Which partners and suppliers leverage your model? Who do you need to rely on? What is the resulting cost structure? Which key elements drive your costs?

GLOBAL TRENDS

18

Community – Mobility – Ubiquity – Service

WE LIKE INNOVATIVE OPPORTUNITIES

FIVE GLOBAL FUNDS AND INCUBATORS

19

e.ventures

Incubator

e.ventures is a truly global venture capital firm which has invested in and built category creating startups around the world

Videotel AOLEurope

Fund 1US

Fund 2US, EU

Fund 3US, EU, Asia, Russia

Fund 4US, EU, Asia, Russia, Brazil

Fund 1 Fund 2 Fund 3 Fund 4

HISTORY AND FOCUS

20

Selected portfolio companies and exits

1992 1995 1997 1998 2001 2006 2011

We have more than two decades of experience in building as well as investing into highly successful consumer internet companies

21

CASE STUDY: PSAFE (XANGO)

22

CASE STUDY: THE REALREAL

23

CASE STUDY: PARTNERING

therealreal.com therealreal.jp

24

THE OTHER CASE

25

RECENT FINANCINGS

Series C, 15 Mio $

Series C, 20 Mio $

Series A, 17 Mio $

26

RECENT EXITS

Exit: 2010Acquirer: Groupon

Exit: 2013 Acquirer: LinkedIn

Exit: 2012Acquirer: Ozon

Exit: 2012 IPO

Exit: 2012Acquirer: KKR

Exit: 2011 Acquirer: Axel Springer

Exit: 2013 Acquirer: IPO

27

Good judgment comes from experience!

FAMOUS LAST WORDS (PART 1)

28

Experience comes from bad judgment!

FAMOUS LAST WORDS (PART 2)

29

Vision without execution is hallucination

-Albert Einstein

www.eventures.vc– the entrepreneurial venture fund –

THANK YOU !