Learnings 1 with Alex Douzet
Alex Douzet: I was born and raised in France as you can tell from my accent, I’ve been in New York for the past 20 years. I worked at a few very successful tech companies in New York. The first one was Hot Jobs back in 2000 – 2001, the company was sold to Yahoo in 2001. Then I went on to cofound company called The Ladders, build the company from 0 to 82 million in revenue. I left out a year ago took some time off and now I’m working on my next company.
Alex Douzet: As I mentioned I worked at Hot Jobs between 2000 and 2002 so that’s where I really got to learn the online recruiting industry and this is where we got the inside for a company like The Ladders. So went on 2003, came up with the ID built an MVP basic product just the proof of concept, then went on and talk to friends and family to raise money and then we raised a series A in 2004.
Alex Douzet: What’s interesting is back then the New York City tech ecosystem was very different than what it is today. I think today you have lots of potential money you have company like TechStars with incubation projects. There was none of that back then when I was starting The Ladders. We actually had to go to either Boston or Silicon Valley to talk to a handful of early stage funds to be able to raise capital.
Alex Douzet: So that was the beginning, then from kind of growing the idea to growing the company at the top did 82 million revenue. And in a very — as I mention, in a very capital efficient way because we only raised a total of like 8 – 9 million in equity funding, that was it, a couple of rounds, that’s it.
Alex Douzet: You really have to be focused on execution and in watching the numbers and it’s really about what people today called “growth hacking” looking at where are the different real way you can find the right customers who understand the value of property product. Trials and errors a lot of A/B testing, modified testing or the social media, online marketing. And then just blow the brand from it would it be a product, put a great experience, try to foster word of mouth and viral and just go from there.