Kim P.

Dutchie...Again? It's time for cannabis businesses to take control of their revenue. Bring your eCommerce, menu, inventory, ordering, and POS systems in-house. Why gamble with your main revenue stream by entrusting it to another company? #420 #TakeControl #CannabisIndustry

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Many seed stage companies funded in 2020/2021 most likely won't make it to Series A these days. Over the last few months I watched two seed stage founders I invested in find buyers for their companies and successfully return cash to investors. In both cases the situations were dire and in both cases their existing lead investors were totally MIA. The reality for most VCs is that their best performing companies typically need their help the *the least* and the struggling ones are where it's essential to step up. For VC's, word travels fast when you aren't there to help. And for founders, working with investors who will be there when the chips are down is more important than ever.

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Spicy Mustard VS Special sauce. Tech companies often want to create a new category because their products feel unique. However, positioning experts advises against this. "You should almost always anchor your product to an existing category," they say. Pitfalls of creating a new category: 1. No existing demand to tap into. 2. Low product understanding. 3. Mixed buyer profiles. The takeaway: Disrupt an existing category instead. For more, check out Growth Unhinged (https://lnkd.in/evxjWjfv) Subscribe to ‘Siliconnector’ Telegram channel for insights and news from Tech world and Silicon Valley: https://t.me/siliconnector

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Could a retail model like Foxtrot work at scale? What's the future of plant-based meat? How should CPG brands think about channel strategy? On the latest The Consumer VC, I chatted with Ashley Hartman & Andrew Bluestein from Bluestein Ventures. Bluestein Ventures invests in the future of food. Some of their early investments includes New Culture, meati™, Vive Organic, Bizzy® Cold Brew, Foxtrot. They are fresh off raising a $45 million fund 3. We discuss: • Going from family office to VC • Differences & similarities investing in inventory and technology businesses • Could the Foxtrot model work at scale and be venture backed? • Retail Reinvention and the Future of Convenience Stores • Future of plant based meat and food tech • Trends in food industry digitization & much more To listen and be the first to know when a new episode drops, subscribe in the comments 👇👇👇 #food #podcast #venturecapital #fundraising #futureoffood #CPG #retail

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Tips for coming out of stealth A week ago we launched NewMoo after 3 years of stealth. I’ll post more about the journey to get there but for now I’ll start at the end - the launch. If you’re a founder considering launching soon, here are some things that helped me: Rally up the team. We saw good stats and received some VC and press interest without paid boosts or fancy PR. Enthusiasm is contagious so we made sure the team was pumped! Brief your team members on timelines, provide specific asks like engaging with the post and prepare lists of friends and family to circulate it to for further traction.  Surround yourself with people you trust. From copy through design and all the way to launch day – choose folks who have strengths you don’t. Jump. There will always be unfinished work - a word on your “out of stealth” post you can debate for another 3 days, or a product feature that’s a “must have”. If you launch at 100%, you launched too late. Please share what are your coming out of stealth tips? Because we’re still getting used to it 🙂 #launch #founderjourney #outofstealth Pic: It’s all in the team

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Fellow CPG founders: Any suggestions on lenders that you have enjoyed working with? Wake Up Water is entirely ecommerce at this time so we don’t have your typical accounts receivable, which makes it more tricky for lenders I’ve spoken to a bunch - there’s all types of models they come up with I’d like to avoid any cash advances where we pay back a percentage of sales (these end up being a crazy high APR) Any suggestions on quality lenders would be greatly appreciated! #funding #lenders #financing

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Pipedream Raises $13M as It Looks to Build Underground Middle Mile Delivery Network Delivery startup Pipedream Labs has raised $13 million in a funding round led by Starship Ventures, with additional participation from Cortado Ventures, Myelin Ventures, and other investors, as reported by Michael Wolf for The Spoon. The infusion of capital will primarily be directed towards enhancing Pipedream’s “Instant Pickup” service and initiating the construction of an ambitious middle-mile network in an undisclosed city. This innovative network aims to facilitate faster and more cost-effective urban deliveries. Pipedream’s Instant Pickup service deploys its underground delivery technology at grocery stores, restaurants, and retail locations. McCurrach explained that this system allows a restaurant or grocery store to transfer an order to a customer in under 15 seconds. The company has received 100 preorders for the Instant Pickup systems, likely including its pilot project with Wendy’s announced last year. In addition to expanding Instant Pickup, Pipedream Labs plans to select a city for its first large-scale middle-mile network installation. Although McCurrach did not reveal the specific location, he shared a graphic depicting the Phoenix metro area with a diagram of a "small middle mile network." “This year, we will be selecting a city to build our first middle-mile network—a large-scale underground delivery network that makes current deliveries faster and cheaper in a city—and collaborating with local government and city officials to maximize the benefits of our low-cost, fast delivery system for all their citizens. Construction is set to begin this year, with plans to start utilizing the network by next spring,” McCurrach stated. The company is expected to find more immediate traction with its Instant Pickup service, as deploying extremely short-range delivery systems within a confined area is considerably easier than implementing a city-wide installation. The growing demand for curbside pickup and fast food drive-thru innovations presents a timely opportunity for Pipedream Labs to expand its presence in these sectors. Pipedream Labs' push into curbside pickup and drive-thru technology aligns with current trends in grocery and quick service restaurant industries, which are increasingly focusing on enhancing their pickup services and reimagining drive-thru experiences. By advancing its underground delivery technology, Pipedream Labs is poised to transform urban logistics, offering a glimpse into the future of efficient, rapid, and cost-effective delivery solutions. Stay ahead with the latest in food delivery news from the weekly Boolanga Business Bites newsletter, brought to you by Wear Your Brand. Sign up for our LinkedIn newsletter now to receive weekly updates directly to your inbox every Monday.

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At Costanoa Ventures, we pride ourselves on identifying and supporting exceptional founders poised to create impactful, lasting change. Hona is a shining example, driven by a trio of extremely talented founders: Manny Griffiths, Joshua Christensen, and Matt McClellan. They each bring unique, differentiated expertise to the table, and Amy Cheetham and I are extremely excited to partner with them. There are approximately 450,000 law firms in the United States, with half of those firms being B2C - think personal injury, mass tort, or immigration law as opposed to BigLaw. One of the reasons we love how Hona is tackling this market is their focus on B2C law firms and product excellence - B2B firms are historically difficult to sell brand new software products into, but B2C firms are completely different buyers. Oftentimes there's just a handful of lawyers and paralegals in a partnership, and any piece of technology they can use to give them an edge would be valuable. 44% of negative Google reviews on law firms directly reference poor communication as the reason for a negative experience, and the number 1 reason for Attorney Bar complaints in the U.S. is "lack of communication". On the lawyer's side, attorneys, paralegals and legal assistants spend an average of 7.4 hours per week on unnecessary updates, redundant communication, and activities that aren't directly contributing towards getting a client's case solved. Manny and the team at Hona are working to change all of that. Hona delivers a tightly-integrated communications platform to help facilitate better communication between law firms and their clients. During legal proceedings, client communications tend to be a large resource-stressor for law firms. Clients will frequently call firms for case updates, legal explanations, or general administrative questions that tend to eat away at firm resources without providing any additional progress toward case resolution. Hona exists to ease that burden - it’s a platform that allows law firms to efficiently communicate with their clients over text, easily build customizable web pages and embed videos, and share information on case status and basic legal process education. This crucial communication processes allow attorneys to focus on their job – moving cases forward, while keeping their clients informed and educated. If you're a lawyer dealing with these problems - don't hesitate to reach out to us or the Hona team! It's a privilege to work with Hona on this journey. The company has been growing at a rapid pace, and they're delivering meaningful technology to help people get through legal proceedings in a much more fluid, transparent, and easy process. Manny, Joshua, and Matt are exceptional founders whose combined skills and dedication to continuous learning position them perfectly to lead Hona to success. They're just getting started, and we can't wait to see what they'll achieve.

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We are making more money that we ever have DTC. And it hasn’t taken a second of my time. As I shared a couple days ago, we started to implement a few key tools into our DTC strategy and they are proving to be two of the most valuable things we’ve done to date. I posted about the first tool a couple days ago, but the second key piece of our short-stack has been Chargeflow. A true gift from the DTC gods above. For a refresher, it’s essentially an automation process for all chargebacks, and no it’s not too good to be true. It’s quite literally that good, and that simple. Here’s the thing with our DTC strategy- we’re a small team. We have 4 full time employees managing 2000+ retail doors, marketing, ops, sales, etc- so we try to keep things as simple as possible, and not just add a fancy new tool unless its an absolute no brainer. Thus far, they’ve won 100% of the chargebacks we’ve had from sneaky customers trying to claim they "never received product", and it’s working on autopilot. If your team is anything like me/Toto (aka small and mighty lol), and you’re looking for a no-brainer tool to make more money with 0 work required, this might just be a perfect solution. Look- I know there is no rulebook or guide to “how to build a successful business”, but I as always, I will continue to share what’s working/not working on my own journey— because I genuinely believe its how we get better together. One little tool, one honest piece of advice at a time. If you have any questions or want an intro to their team- shoot me a note. If this helps one person, it’s a win in my book. ❤️ #leadership #entrepreneurship #dtc

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Next week, I'm speaking with iqram (Co-founder of Venmo, Jelly), and Bailey (Co-founder, CEO of Cal.com, Inc.) about the founder's journey, company-building, and resilience. These guys are extraordinary. Venmo is now used by 70+ million users, and Bailey was the youngest CEO to ever raise a Series A round at 18 ($32M raised in total). 👉 What questions do you have for them? (Comment below) Lumos House is at FULL capacity, but if you'd like to see the recording, comment "RECORD" below.

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I sat down with Rebecca Lynn, Co-Founder of Canvas Ventures, an early-stage VC fund with almost $900 Million AUM. She's a 25-year fintech veteran and 5x Forbes Midas list honoree. In this Fintech Leaders episode, we discuss: - Data-driven marketing and go-to-market strategies - How startups should think about preparing for M&A opportunities   - What great entrepreneurs have in common - The areas of fintech where AI is making an actual difference   - Challenges of building a VC fund from scratch … and a lot more!

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On my trip to NYC a few weeks ago — I ordered a few meals from Uber Eats & these meals made me think about how different the food delivery ecosystem is there -- compared to 🇮🇳. → In the US — your food arrives as fast as a Zepto/Blinkit Order, but it comes with a bill that makes you wonder if you paid for the delivery guy's lunch too 😂–– you can get hit with an extra $5, $7, or even $10 per order for delivery alone. In India, labor is cheap = delivery charges ⬇ (even though we crib about it big time!) → One big difference I noticed = HOW the delivery happens. Out there, most of the deliveries are done on cycles – both motorized & manual, while in India, it’s mostly scooters & bikes. → Their Apps are advanced I felt–– they have more features than what we see on Zomato/Swiggy everyday. & their Apps have the highest ETA accuracy…..not like my lunch yesterday - which showed “Arriving in 10 minutes” for over 15+ minutes. (I don’t blame the platforms — Our infra & route planning impacts the ETA, & the delivery networks relies more on manual processes–– causing delays) → Labor dynamics are another very big difference - Like Uber drivers, most of the Uber Delivery guys are independent contractors & not employees….though I feel India’s already got there - most of our delivery fleets in big cities are also GIG. (While employees get to earn more - but the model lacks employee benefits & job security) Super interesting to see how the same food delivery model has different operating designs in different geographies. PS: I’ve never been able to figure out - why UberEats & FoodPanda have done well in other geographies, but weren’t able to crack the Indian Market…..did they not localise the PlayBooks? PPS: Another prediction: Delivery Charges will grow to ~INR 100/Order in the next 3 years — we’re on the same track as other rich + growing economies. #FoodDelivery #India

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When should you stop seed fundraising? It's easy to stop raising when the round is successfully closed, but what about when things aren't going as well as you'd hoped? I recommend sticking with it for 90 days. Here's why: 1. Yeses often come at the end. For most founders, you'll have to go through dozens of meetings before you start hearing "yes," and then they all come at once. So endurance is a requirement in the fundraising process. 2. 90 days is a fair exchange. Getting the opportunity to work on your business for 2 years is a privilege. It's totally reasonable to invest 3 months of your time upfront to get that opportunity. 3. You probably need the money. Many startups need to raise additional capital before their Series A to give themselves enough time to hit the necessary milestones. It's usually a lot easier to raise a seed round, than to raise a bridge round. 4. Optimize your time. Fundraising for 90 days doesn't mean keep taking meetings with people that aren't interested. Focus your time on the investors who seem most engaged and where you've already had success. #venturecapital #fundraising

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Shared some thoughts with Pear VC on how we think about marketing at immi, crazy experiments we've tried since the early days, and some of our marketing processes that have helped us scale. Thanks for being in our corner! https://lnkd.in/gBAkTUzH #brand #marketing

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I recently had an enlightening conversation with Adam, a seasoned Amazon Vine reviewer. We dived deep into the intricacies of Amazon's Vine program and explored how it can significantly impact brands, especially in the food and beauty sectors where products can get quick, cost-free reviews due to zero estimated tax value (ETV). For growing brands on Amazon, navigating the Vine program can seem daunting, but the insights Adam shared reveal how this tool can be strategically used to enhance your product visibility and credibility without the hefty price tag. Are you leveraging Amazon Vine to its full potential? What results have you seen from this new Amazon program? 🎧📺 Listen or Watch the Full Episode here: https://ecpg.us/3UG2Mgr #CPG #eCommerce #Amazon #podcast #consumerinsights #brandmanagement

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At this week's Fancy Food Show, I had the chance to sneak away from the booth and spend an hour with Alison Cayne for her amazing In The Sauce podcast and it was my favorite hour of the week ☺️ There were laughs, there were tears (!) as we talked all things Lentiful and what it takes to launch a CPG brand today. It was a pretty lively conversation that covered lots of ground, including: - Tips for finding your first copacker - How not to lose your shirt spending $250k+ on Facebook ads - The surprising moment I realized we had a very different consumer base than I first imagined - The reasons behind launching into Whole Foods AND Walmart this summer and why I think we'll succeed in both! - Taking performance enhancing drugs to win pitch slam competitions - Bootstrapping tactics and the best $9 I spend each month - Why I think low sodium is the next big megatrend and why the natural food industry is sleeping on it - Why now is the best time to launch a food business (hint: because of generous people like Ali) - And so much more... Hope this helps some fellow early stage entrepreneurs out there!

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Launching a startup is a huge accomplishment, but that doesn't mean the work is done; in fact, far from it. Now begins the real test: do people actually want and use your product? The "and" is key because while your go-to-market efforts may drive initial sales, it is your product that keeps the customer paying for and using your solution. Key point: I ignore all vanity metrics because real knowledge > useless metrics every day of the week. Here is a short list of the core areas I focus on when evaluating product success. User Acquisition: - Post initial launch / the first wave of sales efforts (30-60 days), I take a look at the number of users that have signed up or paid for the product. This provides a baseline for gauging initial market interest. - Then, I examine the sales process. Were sales a breeze because the solution solved the problem so well? Were initial sales calls a nightmare because nobody could understand what you built? Likely somewhere in between. - If you're not getting a lot of sign-ups or pre-sales, I typically check on product-problem fit (does it solve the problem well), feature quality, pricing, and brand messaging. Tweaking one or a few of these can materially change acquisition metrics. User Engagement: - So someone signed up, the first win is in the bag. Now the two most critical questions: 1) do they use it? 2) do they get enough value to pay for it once or on a recurring basis? While lead gen and initial sales can initially appear high, it's easy to get deflated when nobody is actually using the solution. This eventually leads to cancellation or a refund request once the customer realizes it. - How much they use it and how you determine the value of their engagement is startup specific. For example, if it's a social media app, then I want them using it all the time, and I don't care if they spend money because I can make money from advertisers as long as they are active. Compare this to a B2B solution focused on finance that only needs to be referenced once a month. - As long as they are using it regularly enough to...(continued on skool) https://lnkd.in/e8XiJQ4w

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BIG congrats to the Personal Fav Co. team who launched a truly best-in-class wipe product today, which just so happens to be *ahem* "powered by biom" (more on that below). I was introduced to Stephanie Elias and Hannah Hutton as we were both getting our companies off the ground. We became fast-friends as we are similarly passionate about trying to build awareness around toxic ingredients in products that millions of people use without having any real understanding of what's inside + health implications. It was clear they had exceptionally high standards for product and were not willing to take shortcuts with ingredients (even if 99% of consumers would never know the difference...) I liked that. This is the DNA of a brand you can trust. Fast forward to today: Personal Fav launched PLAY: a pH Matched, Flushable, Biodegradable, Intimacy Wipe that can be used to stay fresh everywhere (above and below the belt). This product launch is also special as its our first collaboration under “powered by biom”, a new B2B offering we have rolled out to help other brands and businesses produce sustainable wipe products without plastic and toxic ingredients. For brands out there who are interested in bringing a new wipe product to market, or refining a current SKU -- shoot us a note. We are happy to share our capabilities and resources -- or simply offer advice.

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