The Secret Behind Attracting Millions of Dollars in Venture Capital Funds
InVideo is currently used by over 100,000 users globally from 150 plus countries and it's funded with the multi-million dollar backing by Sequoia Capital, one of the stars of Silicon Valley venture capital funds and other angel investors. Sanket Shah is the CEO of InVideo. Seven years ago, Sanket started creating videos on non-fiction books and uploaded a bunch of them to YouTube. These videos got a huge traction on YouTube. But Sanket realized that the process of video creation was cumbersome. It wasn't a great experience. So in 2016, after his last company, MassBlurb got acquired for a few million dollars, he and his partners were wondering about the next big thing, What would be the next gig? The answer lay in trying to solve a problem that he had experienced as a video creator a few years before. The time consuming and complicated task of video creation, editing and publishing. They are building the tech to fix that. Along the way he has discovered the importance of hiring the right people, performing “good” customer research and discovering the right “Go to Market” traction channels. What you will learn The importance of market size to create a scalable business. Why a high gross profit margin is the difference between success and failure The type of customers you need to avoid and the ones to chase How they identified a problem and created a scalable solution The critical focus of developing a user friendly interface and user friendly experience The secret sauce of great 24/7 customer support Why thinking is underrated and needs to be nurtured and practiced Discover why your first business idea is often not correct and you will need to pivot