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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

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?

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?

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

Because gyms themselves have terrible retention. You know, it's like a gym business model to sell 1,000 memberships for a gym with capacity of 100 people because gyms know that 900 people would never visit. And why apps would work better than gyms? It's about nature of people. They wouldn't. It's so rare to see good retention in health and fitness.

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

Because gyms themselves have terrible retention. You know, it's like a gym business model to sell 1,000 memberships for a gym with capacity of 100 people because gyms know that 900 people would never visit. And why apps would work better than gyms? It's about nature of people. They wouldn't. It's so rare to see good retention in health and fitness.

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

Because gyms themselves have terrible retention. You know, it's like a gym business model to sell 1,000 memberships for a gym with capacity of 100 people because gyms know that 900 people would never visit. And why apps would work better than gyms? It's about nature of people. They wouldn't. It's so rare to see good retention in health and fitness.

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 when I saw that, I understood that it will be very huge.

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 when I saw that, I understood that it will be very huge.

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 when I saw that, I understood that it will be very huge.

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

That's about long-term retention. Long-term retention. It means that how many users stays for six months and more. D180, which is six months. What was it? It's again, retention is user case. You may improve retention by good product, or you may destroy retention by bad product, but the essence of retention is natural user case. And natural user case, based on

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

That's about long-term retention. Long-term retention. It means that how many users stays for six months and more. D180, which is six months. What was it? It's again, retention is user case. You may improve retention by good product, or you may destroy retention by bad product, but the essence of retention is natural user case. And natural user case, based on

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

That's about long-term retention. Long-term retention. It means that how many users stays for six months and more. D180, which is six months. What was it? It's again, retention is user case. You may improve retention by good product, or you may destroy retention by bad product, but the essence of retention is natural user case. And natural user case, based on

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

natural necessity for women to organize life around cycle. You can't skip that. You may skip gym, but you can't skip period. And because of that, retention is very good. But then our big idea was, okay, if it's so unique and retention is so high, Could we build something more valuable than Period Tracker based on 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

natural necessity for women to organize life around cycle. You can't skip that. You may skip gym, but you can't skip period. And because of that, retention is very good. But then our big idea was, okay, if it's so unique and retention is so high, Could we build something more valuable than Period Tracker based on 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

natural necessity for women to organize life around cycle. You can't skip that. You may skip gym, but you can't skip period. And because of that, retention is very good. But then our big idea was, okay, if it's so unique and retention is so high, Could we build something more valuable than Period Tracker based on 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

And the ultimate reason why Flow became so successful was this idea of a kind of super app. Let's take Period Tracker as a core product. And let's surround this Period Tracker by deeper, more valuable health features and content. And the Period Tracker would become a driver of user acquisition and more significant retention. But all these features around would create value.

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 the ultimate reason why Flow became so successful was this idea of a kind of super app. Let's take Period Tracker as a core product. And let's surround this Period Tracker by deeper, more valuable health features and content. And the Period Tracker would become a driver of user acquisition and more significant retention. But all these features around would create value.

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 the ultimate reason why Flow became so successful was this idea of a kind of super app. Let's take Period Tracker as a core product. And let's surround this Period Tracker by deeper, more valuable health features and content. And the Period Tracker would become a driver of user acquisition and more significant retention. But all these features around would create value.

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 something similar on the Gmail ecosystem. Gmail itself drives acquisition and retention, but these apps for documents, editing, for calls, etc., drive value. But if you take out Gmail, it would not work. And the same with Spirit Tracker. But if you don't have this ecosystem, it's not monetizable because the value is just too tiny. Did you know that from day one?

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 something similar on the Gmail ecosystem. Gmail itself drives acquisition and retention, but these apps for documents, editing, for calls, etc., drive value. But if you take out Gmail, it would not work. And the same with Spirit Tracker. But if you don't have this ecosystem, it's not monetizable because the value is just too tiny. Did you know that from day one?

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 something similar on the Gmail ecosystem. Gmail itself drives acquisition and retention, but these apps for documents, editing, for calls, etc., drive value. But if you take out Gmail, it would not work. And the same with Spirit Tracker. But if you don't have this ecosystem, it's not monetizable because the value is just too tiny. Did you know that from day one?