Kono Team Story at 500Startups
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Transcript of Kono Team Story at 500Startups
Kono Team Story at 500 Startups
Aug 21, 2015YJ. Min ([email protected]) Konolabs Inc. (http://kono.ai)
500 Startups for Korean Startups
• 500 Startups : http://500.co/
• 500 Kimchi Fund : http://kimchi.500.co/
Batch ? Investment?• angel.co Apply
• Introduction by alumni, your investors, etc..
• Our Story
• Dec 18, 2014 : Video chatting with Tim Chae
• Feb 27, 2015 : Meeting w/500 Team(Tim, Aerin, and Jess)
• Apr 20, 2015 : Batch 13 Start
• Aug 11, 2015 : Batch 13 Demo day
500 Startup Batch 13• Location : Mountain View
• The most diverse batch to date : 60%, 46%
• Weekly program
• Perks / Support Program
• Networking opportunity
• The heart of Silicon Valley
Silicon Vally vs. Kangnam Style
• Speed & Hyper productivity
• Tools & Focus : No one talked only few members are building the technology? Yes! It happens!
• Launch fast & hustle!
• Numbers : MRR(WRR, YRR), Daily Active User, Churn Out(O), Download, Accumulated numbers(X)
• Market, Traction, Retention
Fund-raising• Find fit & Good hands
• Investor List
• VC, Angel meetings
• Materials : e-mail blurb, e-mail deck, executive summary, IR_deck
• Nikola Tesla Pitching Silicon Valley VCs : https://www.youtube.com/watch?v=zngK13FMgXM
FAQ• Why are you unique? What are your competitive
advantages
• Market size, target market size
• Target User Segment
• Use cases : Best 3, Worst 3
• Business Model
• Exit Plan, Financial Projection
Gains• Product Launch in US : Landing Renewal, Open Beta, ver 1.0
• Perks : Microsoft, Google, AWS, Paypal, Mixpanel, Sendgrid…
• User Growth :
• Twitter(@officialkono) : 30 —> 1,700
• Landing sign-up users : 200 —> 1,000
• App Subscribers(3 weeks after launching) : >100 —> 2,000
• People : Mentors, Staffs, Pony Awards, Community
• Investment/Partnership Opportunity
Challenges
• Miss-Communication
• Time zone difference
• People Management
• Living Cost
• Language & Cultural Difference
Conclusions
• #500Strong is TRUE
• Exciting but not easy
• Trust you & your team
• It’s my/our business!Source : http://www.quora.com/What-is-it-like-being-in-500-Startups