Wanelo: The First Million Users
slideshare.net
slideshare.net
- Me and Deena are known to each other for many years - I did the initial coding without being the co-founder and executed it as a services business - I built the product with Java(Struts2, Hibernate, MySQL) and worked on it single handedly for few years. - Lately, when we started getting some traction, we decided to persue it together full time, by taking equity and to work as a co-founder and CTO of the company - We got the first terms sheet when I was the co-founder of the company. Someone has given the link to TMT investments, which is correct. - Due to some difference on how to grow the company (particularly some investors were against me being in India), we decided to separate. The entire discussion was initiated by me and I am the one responsible for split. - Deena is a wonderful entrepreneur and I have very high regards for her. And I am proud of what Wanelo has become. Entire credit goes to her. - Constantin is an awesome Engineer and the current team of Wanelo is killer. They have done a phenomenal job and much better than I could have done it. - I am currently working as a general partner with The Morpheus, kind of YC of India. - I still hold a fraction of percent in the company.
Hope that clarifies everything. Please stop making un-necessary comments against her and stop digging the past.
Thanks for the good post and clearing things up.
In 2007-2008, I actively searched for a technical cofounder, but I couldn’t find one. I did have a false start of working with two great engineers, who in the end weren't interested in taking this on full time.
In parallel, I started consulting as a UX designer to make money. I eventually took on more projects that led me to hire a small team of designers to support all the client work. The income generated from these projects made it possible for me bootstrap Wanelo on my own and hire an engineer in India and a couple people under him to start building Wanelo. This was a direct contracting situation (he got paid and there was no equity involved) which went on for a couple of years.
We built a bunch of features that nobody cared to use until, finally, at the end of 2010, we launched a version (mentioned in the presentation) which people started using for the first time. At that point, I closed down my agency, which ended my source of income. I then asked the main engineer (Sarvjeet) if he would come on board as a CTO/cofounder (since I could no longer pay him or anyone else) and he said yes. This didn’t last for long. After a few months, it became clear very quickly that we were not a good fit for a cofounder relationship. We mutually agreed to end his involvement with the company (there was a 3 months transition period for which he got paid), and I went on solo to raise funding and build a new team, which took over the technical platform. Two months later, we fully rebuilt the website on an entirely new stack, leaving all the old code behind.
To elaborate on the “no team” comment, that comes directly from investors who refused to consider me and a remote engineer in India as a real team. This was the main challenge in raising money. Investors would literally call me a solo female non technical founder because it was just me with no engineering background and some remote contractors, and it took 40 rejections from investors to close my seed round.
Congrats on your hard work.
The original title was the problem. Unfortunately the original title was created by the HN submitter (as far as I can tell) and it wasn't 100% accurate. If there's one thing people on HN do well it's pick holes in things that aren't 100% correct. It doesn't excuse some of the bile you're referring to but I think it reinforces the need not to create our own titles when submitting and to follow the HN guidelines around submissions.[1]
The title came from slide 12 of the presentation. Based on the recent posts by the parties involved, it seems that it was accurate with respect to the hurdles encountered in getting funding, but the presentation slides didn't express the context of how this event fit into the history of the company.
Why lie about it?
:(
A woman builds a big business from scratch and rather than wondering why it took so long for her to get funding we instantly latch on to a second-hand report that she might've had a falling out with someone before her site even started taking off.
Ignoring the fact that this isn't incompatible with the presentation at all or that there's plenty of male founders who we know pulled shitty moves in the beginning; why exactly did we vote this up this quickly?
Plenty of "co-founders" disappear in early stage startups that take a long time to get going, and at that point they're no longer co-founders, they were just associated people.
I think that HN has a very low tolerance for some sorts of bullshit. But it apparently it has a high tolerance for bullshit questions about people that aren't involved with a startup's current success.
After reading Sam's last two blog posts I just decided to reconsider and apply to YC after all; but the atmosphere here is so toxic that I can't help but feel that I'd spend more energy on dealing with YC misogyny than actually participating.
Also, if anyone was wondering why pg was trying out comment endorsement, this is why. I wouldn't be surprised if Hacker News was shut down entirely in the future. I wonder if it is the principal discouraging factor for female applicants to YC.
FWIW, why not apply, go meet the people in person, then decide if there will be more misogyny than useful participation.
1. I can't say since I haven't been through YC, but I imagine that HN, a site that's open to every joe schmoe on the internet, is not a good reflection of the population that's accepted to YC (probably the most exclusive start-up accelerator).
2. I don't know the truth of the original claim (presumably neither do you). My question is this, if the original claim that there was a technical co-founder that got pushed out is true, is it toxic for dogfood123 to state it?
I guess I'm saying it seems like its premature to say it's 'toxic'. I agree that if there are malicious users making up lies about female founders, that's toxic. OTOH, if the claim is true, I struggle to see how talking about reality is toxic.
I had a female (technical) cofounder, and her general take on YC was that she was treated well by the partners, and didn't encounter any blatant sexism from the batch, but many founders in the batch were young techie guys who gravitated toward conversing with other guys, so she really only got to know a subset of the batch (other women, plus the minority of male founders who were comfortable talking to women). Also, she felt there was a general assumption (among the batch, not the partners) that male founders were technical, but female founders were non-technical, which affected how people interacted with her in subtle ways. YC could do more to educate founders about unconscious bias (and for all I know, they have), but at least in our batch, I think that would have been considered somewhat beyond the scope of the program. I don't think she'd ever characterize it as "YC misogyny."
HN, on the other hand, is probably more representative of the attitude of the tech world at large, and possibly a bit worse. YC-founder HN comments are almost universally more civil and enlightened than the bulk of the comments on the site.
Apply to YC, or don't, that decision is yours. But as long as you're in the tech world, you're not going to avoid any extra sexism by avoiding YC.
[1]https://news.ycombinator.com/user?id=mtrimpe [2]https://interactly.com/company
That means that unless I closet myself for YC, which I'm getting a bit old for, I'm likely to have a significantly worse experience than the average woman would.
[1] https://news.ycombinator.com/item?id=7098056 [2] Gender-dysphoric to be precise, but that isn't meaningful to most.
Something - I don't know what, but she's certainly not being forthright about it - must have happened between then and the new "this is what a real CTO looks like" guy took over.
So there's enough there that merits hesitating before making a woman-in-tech hero of her. It's not misogynistic to say so either.
[1] http://tmtinvestments.com/i/pdf/Wanelo%20RNS%20(22%20Nov%201...
It was upvoted because it's weird, there's no simple explanation, and people are concerned.
1. To get his self-esteem to a higher level. Lots of people do talking for this. And they say lots of bullshit to attract your attention and boost their selves.
2. To genially tell the truth and help people. My guess is that this is the minority.
So I'm always skeptic about these stories.
Mirror, in case it gets taken down: http://i.imgur.com/OmultA0.png
Additionally, a VC report from 2011 talked about how "both founders have extensive knowledge of the high-tech industry" [4]. Another described Sarvjeet's extensive experience [5].
[2] http://www.crunchbase.com/person/sarvjeet-ahuja
[3] http://www.crunchbase.com/company/wanelo
[4] http://gecr.co.uk/file_download/45/
[5] http://tmtinvestments.com/i/pdf/Wanelo%20RNS%20(22%20Nov%201...
[1] http://www.slideshare.net/500startups/eric-koger-cofounder-c...
Lots of companies screw their technical cofounders. I was the technical cofounder of a company that was later acquired, but never received the $12.8 million check I was supposed to and didn't have the resources to fight back against a maniacal cofounder flush with $60+ million in new cash from the acquisition. That doesn't mean that others can't learn from the company's story, even if only told selectively. It just means that the people that wound up in charge are perhaps not the kind of people you would want to do business with.
Not to derail, but let's hear that story. Seems like hiring a lawyer would be a no-brainer if you were due $12.8m.
Hoping that everyone get's that right the first time is of course illusional; may you all learn that lesson by being screwed out of a moderate 4 digit amount early in your careers!
But, as of this moment, despite my name being on the company's first and primary patent, having written all of its initial code, having envisioned the entire concept of the company myself, and even having named the company, I have seen exactly $0 from an acquisition I was supposed to receive 20% of. Even better, with $60 million in his pocket, my womanizing, alcoholic, conniving cofounder suddenly found Jesus and now fancies himself a televangelist of sorts. At last contact with him, he was "praying for me". Go figure.
So yeah, be careful when working with others. My cofounder would have been considered by anyone that looked at him to be beyond reproach. He was not.
http://anakam.com (redirects to Equifax, who bought the company and tried to extort me, original company was Anakam LLC).
Seems odd to me. Find a lawyer, if you have a convincing case they might work pro bono at first if they can foresee a big payoff.
Any good lawyer will tell you the same piece of advice: "never say anything." It does absolutely zero positive good for your case and can only serve to hinder it later. It's very difficult sometimes to keep from providing what you consider to be valuable feedback for others, but you have your own interests to consider first.
BTW, this site is really taking off with young, social-media crazed teenagers, so keep an eye on it! Already at 8MM users, it's similar to pinterest with a business model that really makes sense.
Overall, the two years prior to the inflection point and the first users were pretty inefficient. The vision was actually always the same (a universal social platform for all of shopping), but the execution changed dramatically. We literally just kept launching features around this concept, but they were pretty unfocused, until the minimalist redesign.
On the other hand, this 2 year period allowed me to make lots of product design mistakes and learn from them and to develop a personal philosophy and approach to product design.
Been working on my own startup for (what feels like) too long, having to actually earn a living in the meantime, so appreciate seeing another business go from seed to growth in a similar time scale.
People always laud the internet for allowing ordinary people to do all sorts of exceptional things. This is an example of one of those things, and it shouldn't be taken away from its creator for any of the infinite trivial reasons that could be imagined.
Damn good value when you consider the price per user Facebook paid for WhatsApp...
I then spent $20 a day on Facebook ads. The goal was simply to get a small stream of people to check out the website and to see if they would use it. I didn't think I could actually grow a community by spending on ads since I didn't have that much money to spend. To my shock, people actually started using it and were sticking around. The reason was that the website exposed them to surprising, unique products from stores they've never heard about.
It's also worth noting that I optimized the ad a lot, tweaking all the details (targeting, image used, copy, where the ad clicks to) until I had an ad that was performing really well, meaning that I was making that $20 count.
Anyway they seem to be doing well and they have amazing reviews and a great brand. I'd really like to know how they decided not to show pricing in their feed though on the mobile app. When I joined I followed lots of companies, those I shop at and those I'd like to shop at mainly - it got really old really fast clicking through to see pricing. Just my opinion though, like I said they get great reviews so maybe these people use it differently, only following stores they use or are less price sensitive. Also I'm male so I know I'm not really their target audience, but they do have a lot of men's stores on there.
All that "single, female, non-tech" doesn't make much sense to me if a team of developers was hired to create this website.
Gotta promote the team members or it looks like they're replaceable cutouts.
Any kind of success by a nontechnical solo founder can be an inspiration for other nontechnical people who want to build their own companies.
Even if that wasn't the case, could easily have gone the oDesk route. (Personally I think the idea of doing this and keeping all equity is a bit of a pipe dream, but I hear enough folks pimping courses that advocate this, so surely it works, right?)
I believe I've read somewhere that Deena writes those descriptions herself. She doesn't talk about it, but I think this personality goes a long way with her audience.
The wrong cofounder/s is like the wrong spouse.
The right cofounder/s is like the right spouse.
Best to know them previously, it helps a lot.
Further, the biggest point of having other people around is killing off bad ideas quickly because people won't see the entire picture themselves but they will believe their own bullshit. It's harder to delude yourself in the wrong direction of thought if your cofounder/s are there to help you keep you honest.
source: [1] http://www.businessinsider.com/pregnant-founders-response-to...
[2] http://valleywag.gawker.com/this-is-why-there-arent-enough-w...
Did anyone even bother to look to see how this site compares in their market? Who's their closest competitors even?
While the other is generally related to how big one's feet are.
I would gather the submission intend to point out that this 'news event' was 'rare' and therefore worth submitting (rare because of the success, being a single founder, and being a woman in a field where (I presume) women are significantly less numerous). Anyway, looks like there were issues with the submission for some reason since it has been edited.
Males and females look at things differently, too, so there must be huge markets for female founders, who really understands women much better than males does.
This was a perfect example, too, as shopping is something the female population really... Excels at. :)
A demo is just a demo. Quickly put together as a proof of concept. And I think going from demo to product is the one and only time when rebuilding from scratch makes sense.
So I think they made the right choice.
Like other commenters have said, how did she, being a non-technical founder with no team, could set up the (what appears to be custom-made) website? It's like going to a hackathon and claim that you build an app within 24 hours, but actually have implemented majority of it beforehand and making it a "library".
Anyway, looking at the positive side, had the slides contain more detail, I believe it can be inspiring for many people and not received with skepticisms.
I currently have a website that gets over 500k Uniques per month and over 5m pageviews a month, so it's interesting to see what the future could hold!
I prefer not to say the site if you understand.
PS. How's the Glorious Nation of Kazakhstan?
Glimpse Conference SF 2013: Fireside Chat - Wanelo http://www.youtube.com/watch?v=b1g4s4HmLIU
It's basically a clever front for a ton of affiliate programs, which interests me because my startup does something similar. I just wouldn't go so far as to consider it the "YouTube of Shopping" (slide 5).
If anything, Amazon Prime belongs in that position on slide 5.
I find the opposite to be true.
Even though Amazon has been an important part of my own business for actually selling stuff, Amazon Prime has revolutionised the ability for small sellers to move volume (and solved the logistics hurdles), and Amazon's cloud computing is critical for tons of other startups to run their infrastructure--not to mention is being chosen by established players.
But, no, it's not "social".
Could you talk more about how you got from "nobody cares" to the first funding that attracted your CTO? Was that the $20/day in FB ads?
Deena's talk starts at 31:00 mark.
In my case, targeting males who were either married or not in a relationship, age 21-40, and then had a variety of interests really narrowed things down.
I gleaned the approach from looking at our 50 or so past customers who all fit that demographic.l
You guys are a lovely and welcoming bunch. I'm sure YC, successful startups, and potential founders really desire rockstars like you who've got this wondrous natural ability for unnecessary criticism.
You can't just throw up your favourite flavour of CMS with a theme from themeforest and magically hit it off, there's technical considerations that need to be made.
3 Options really.
1. She is technical and knows all about web development (no idea why she'd lie about that though)
2. She did indeed have a founder she cut out.
3. She wasn't solo on the project.
Something doesn't gel here.