Menu
Sign In Search Podcasts Charts People & Topics Add Podcast API Pricing

Dmitry Gurski

๐Ÿ‘ค Speaker
576 total appearances

Appearances Over Time

Podcast Appearances

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

It means that it's almost kind of a bifurcation point. You are getting a little advantage at the beginning and then in years your advantage is becoming huge. And the ultimate reason behind that is that it's a flywheel. It's like just a cumulative effect of many things. And at the beginning, our apps were honestly pretty much similar.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

But then probably we did some good product decisions, we got additional resources and we started to invest to our product much more than our competitors. We invested to product, just to product up to this moment 150 million. We mostly had engineers in Eastern Europe, like to understand that in standards of UK or United States, you should multiply that on two.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

But then probably we did some good product decisions, we got additional resources and we started to invest to our product much more than our competitors. We invested to product, just to product up to this moment 150 million. We mostly had engineers in Eastern Europe, like to understand that in standards of UK or United States, you should multiply that on two.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

But then probably we did some good product decisions, we got additional resources and we started to invest to our product much more than our competitors. We invested to product, just to product up to this moment 150 million. We mostly had engineers in Eastern Europe, like to understand that in standards of UK or United States, you should multiply that on two.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

And then we created this big floor, the super app, because of this investment. And this product became so good, so much better than competitors and it won naturally. But at the beginning, all our products were almost the same and difference was very tiny.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

And then we created this big floor, the super app, because of this investment. And this product became so good, so much better than competitors and it won naturally. But at the beginning, all our products were almost the same and difference was very tiny.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

And then we created this big floor, the super app, because of this investment. And this product became so good, so much better than competitors and it won naturally. But at the beginning, all our products were almost the same and difference was very tiny.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

It's good to have good competitors because you have much opportunity to learn from them and the good competition speed up your own company because you just feel this competition. Your team feels competition. Team is not getting complacent. Pretty much like a fixed pie mentality that I should have a monopoly to take this pie. No.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

It's good to have good competitors because you have much opportunity to learn from them and the good competition speed up your own company because you just feel this competition. Your team feels competition. Team is not getting complacent. Pretty much like a fixed pie mentality that I should have a monopoly to take this pie. No.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

It's good to have good competitors because you have much opportunity to learn from them and the good competition speed up your own company because you just feel this competition. Your team feels competition. Team is not getting complacent. Pretty much like a fixed pie mentality that I should have a monopoly to take this pie. No.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

When you have good competition, pie is getting bigger because products are better, customers are more educated, and the total market is getting bigger. Of course, nobody wants to be in this kind of red blood, like

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

When you have good competition, pie is getting bigger because products are better, customers are more educated, and the total market is getting bigger. Of course, nobody wants to be in this kind of red blood, like

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

When you have good competition, pie is getting bigger because products are better, customers are more educated, and the total market is getting bigger. Of course, nobody wants to be in this kind of red blood, like

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

red blood ocean market when you have tiny margin and a ton of competition but in case if it's normal competition it's it's good it's so good so when you first launched this v3 of flow having had the two which didn't work so well and the simplified flow did you have immediate product market fit take me to that

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

red blood ocean market when you have tiny margin and a ton of competition but in case if it's normal competition it's it's good it's so good so when you first launched this v3 of flow having had the two which didn't work so well and the simplified flow did you have immediate product market fit take me to that

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

red blood ocean market when you have tiny margin and a ton of competition but in case if it's normal competition it's it's good it's so good so when you first launched this v3 of flow having had the two which didn't work so well and the simplified flow did you have immediate product market fit take me to that

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

Yeah, and that moment when we launched Flow, maybe one month ago, I immediately understood that it had a chance to become really big because of retention. I saw a retention I had never seen before, and we had many apps. I just combined two numbers, like a total address bar market, Veeamon, And retention. And I understood that potential is tremendous by combination of these two metrics.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

Yeah, and that moment when we launched Flow, maybe one month ago, I immediately understood that it had a chance to become really big because of retention. I saw a retention I had never seen before, and we had many apps. I just combined two numbers, like a total address bar market, Veeamon, And retention. And I understood that potential is tremendous by combination of these two metrics.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

Yeah, and that moment when we launched Flow, maybe one month ago, I immediately understood that it had a chance to become really big because of retention. I saw a retention I had never seen before, and we had many apps. I just combined two numbers, like a total address bar market, Veeamon, And retention. And I understood that potential is tremendous by combination of these two metrics.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

And retention is really rare in health and fitness, pretty naturally. Because retention is not about product. Retention is about user case. What many people don't understand is retention is not about product. Retention is about user case. It means that you may create the perfect app for gym, fitness app. And the perfect app for gyms will have terrible retention. Why?