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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

In our case, we got them organically, but in new reality, probably you must buy them. It's less realistic nowadays to get initial audience organically.

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 much more difficult nowadays than it used to be 10 years ago. Much more difficult. Sometimes it happens, and more often because of virality. But in most of cases, you need to start this process by paid user acquisition. But if your product is shitty, it will not be helpful.

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 much more difficult nowadays than it used to be 10 years ago. Much more difficult. Sometimes it happens, and more often because of virality. But in most of cases, you need to start this process by paid user acquisition. But if your product is shitty, it will not be helpful.

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 much more difficult nowadays than it used to be 10 years ago. Much more difficult. Sometimes it happens, and more often because of virality. But in most of cases, you need to start this process by paid user acquisition. But if your product is shitty, it will not be helpful.

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

Probably. But also, I remember, again, from this first deck for seed round, and as I understood, you met with our first investor of Flint Capital.

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

Probably. But also, I remember, again, from this first deck for seed round, and as I understood, you met with our first investor of Flint Capital.

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

Probably. But also, I remember, again, from this first deck for seed round, and as I understood, you met with our first investor of Flint Capital.

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, Andrew from Flint Capital. In this deck, you're always exaggerating your future in decks for venture capital. We didn't believe in these numbers, and you probably shouldn't when you're presenting that to investors. And we said, in 2020 or 2022, we will have 3 or 4 million monthly active users and 3 million in revenue, and the company will cost 20 million.

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, Andrew from Flint Capital. In this deck, you're always exaggerating your future in decks for venture capital. We didn't believe in these numbers, and you probably shouldn't when you're presenting that to investors. And we said, in 2020 or 2022, we will have 3 or 4 million monthly active users and 3 million in revenue, and the company will cost 20 million.

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, Andrew from Flint Capital. In this deck, you're always exaggerating your future in decks for venture capital. We didn't believe in these numbers, and you probably shouldn't when you're presenting that to investors. And we said, in 2020 or 2022, we will have 3 or 4 million monthly active users and 3 million in revenue, and the company will cost 20 million.

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

Probably real numbers like 10 times bigger at least. Why did you get it so wrong? What did you not see? I didn't think that we would get big share of the market so fast because market was formed and competitive and I didn't have hope to get big share of this market with hundreds of competitors easily, but it happened.

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

Probably real numbers like 10 times bigger at least. Why did you get it so wrong? What did you not see? I didn't think that we would get big share of the market so fast because market was formed and competitive and I didn't have hope to get big share of this market with hundreds of competitors easily, but it happened.

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

Probably real numbers like 10 times bigger at least. Why did you get it so wrong? What did you not see? I didn't think that we would get big share of the market so fast because market was formed and competitive and I didn't have hope to get big share of this market with hundreds of competitors easily, but it happened.

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

Ultimately, yes, because up to the very recent times, we didn't spend money for paid user acquisition. It was organic growth and it was organic growth because users liked our products and the metrics of our product were so good that App Store and Google Play were promoting it. But we started to spend like more or less significant money for paid user acquisition Maybe in 2020, 2021.

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

Ultimately, yes, because up to the very recent times, we didn't spend money for paid user acquisition. It was organic growth and it was organic growth because users liked our products and the metrics of our product were so good that App Store and Google Play were promoting it. But we started to spend like more or less significant money for paid user acquisition Maybe in 2020, 2021.

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

Ultimately, yes, because up to the very recent times, we didn't spend money for paid user acquisition. It was organic growth and it was organic growth because users liked our products and the metrics of our product were so good that App Store and Google Play were promoting it. But we started to spend like more or less significant money for paid user acquisition Maybe in 2020, 2021.

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

Before that, it was like rather minuscule volume.

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

Before that, it was like rather minuscule volume.

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

Before that, it was like rather minuscule volume.

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 we started monetization and when we got monetization, it was just like kind of you put money and you get money back, you put money, you get money back.