go viral, rene rechtmann
Post on 31-May-2015
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…to $100m exit
From greenfield
Spot it and ride
The world anno 2003/2004
What was the business going to be?
Sustainable product
Original idea
What do you want to be when
you grow up?
Invention Creativity Passion Domestic Playful Introverted
Ambition Professionalism Commercial Scale Packaged product Driven
The businessman and the inventor
To create and engage audiences globally
A clear vision emerged
GROWTH/VALUE
+
Goodbye to the small pond
Audiences
North America presents opportunity for user growth…
…but other regions present significant growth opportunities
• Asia has 922.3M internet users… • Europe has 476.2M internet users… • North America has 272.1M internet users… • Latin America has 215.9M internet users…
• …but only realizes a 23.8% penetration rate • …and realizes a 58.3% penetration rate • …and realizes a 78.3% penetration rate • …but only realizes a 37.0% penetration rate
Source: Internet World Stats (2011)
Millions of Users Penetration Rate
Accessibility….
? ?
?
? EU
APAC
US
GLOBAL
?
?
International considerations
Technology is the foundation
Twitter Ticker
All Devices
Optimisation Social Video
Developer SDK
Tracks Everything White Label
Where to start? Automated management
Automated optimization
Automated data collection
Automated reporting
Automated publisher
Multi language
Multi geographies
Multi currency
Multi jurisdiction
Multi location
Documentation
Scalability
C++, php
Htlm5, flash, java
Agile
Everything is possible Winning is the only option Hard work Urgency 9AM – 7 PM Agile International Options Fighting Share success
Culture
Individual responsibility Individual targets Individual Accountability P/L driven and attachment Country targets Corporate targets Weeks status Monthly P/L evaluation Bi-annually individual evaluation
Structure
The DNA of the people you need
Wanted
Hungry
No limits
International
Value for money
Talent from the world
Limited talent
Not humble
Comfortable
Too expensive
Limited global outlook Denmark
London
Entrepreneurs
Hard workers
Dynamic
Solutions, please
Think big
Ready for it?
• 80 people/29 nationalities
• World class leadership attracts world class team – A players hire A players – B players hire C players
• Poor performers need to leave
FAST – Bad for culture – Bad for product – Bad for clients etc.
• No HR
A race against time
Global race for video (Silicon valley) Not only local competition shaping up Risk capital available in volume Entry barrier is low Technology is cheap Talent looking for “next big thing”
Speed and Momentum is key..!
Professionalism
I knew from day one that we needed an institutional investor
• Professionalism – Mickey mouse board meetings
• World class network
• Experience
• Access to more capital
• Attract talent
• “Green card”
Two ways…
Bootstrapping
• Stay in control
– Make a formula for growth/ scale
– Growth capital (3-5x)
– Pros
• Control your destiny
– Cons
• Not pushed to the limit
VC “Classic”
• Confident in unlimited scale
– Strong BP/team/beta
– Angel
– VC (10X)
– Pros
• Going all the way
– Cons
• The VC make the shots
Two ways…
Bootstrapping
• Stay in control
– Make a formula for growth/ scale
– Growth capital (3-5x)
– Pros
• Control your destiny
– Cons
• Not pushed to the limit
VC “Classic”
• Confident in unlimited scale
– Strong BP/team/beta
– Angel
– VC (10X)
– Pros
• Going all the way
– Cons
• The VC make the shots
$100m vs $390m VC added a 4X factor
REMEMBER…You start a relationship…. Make sure that the personalities match and you get the right experience
Crisis!
08 09 10
50% growth while the world fell apart • Stayed focused
– Scalability
• De-select short term opportunities – Reckett, Pre-roll, MPU video
• Trusted our instincts
• Invested in the business – Tech, people and international
Video technology
State of art video player tech
HTML 5 player in production
Network
+30,000 mid & long-tail publishers
+70% long tail views
Measurement & Optimization
136 metrics, full customization
A/B testing environment
GVN distribution platform
60m views delivered MoM,
C++, infinitely scalable
International operation
7 offices, 4 partners
85 countries served
The goviral we built
Sales
Trading with all 4 major networks
17 of top 20 global brands as clients
Back to hyper growth On track for an exit
09 10 11
Deciding the future..? Video
Considerations
• US expansion
• Asia expansion
• Product expansion
• Competition
• Market development
• Risk
Solutions
• More growth capital
• New VC partners
• Merger with US player
• Selling the business
• Business as usual
Growth business
Growth market
Strategic importance
Strong team
Good tech platform
In the right markets
Profitable
The wish list for Aol
The latest chapter
In January 2011 Aol acquired goviral for $100m in cash
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