Ramtin Naimi
speaker
1,391 appearances
1 recordings
1 series
first heard Jul 2025
last heard Jul 2025
Ramtin Naimi’s voice in public audio — every appearance, attributed to the second.
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An example of this, we invested in a company called Paparazzi.
We had seeded them when it was TTYL and then TTYL pivoted five or six times until it turned into Paparazzi and then Paparazzi launched.
I think it was the first consumer social application ever to debut at number one on the app store.
And by the end of that day, they had three term sheets from three tier one VC firms and they signed a term sheet with Benchmark.
Within six weeks, it became very obvious that there was no retention.
The growth was there, but the retention wasn't there.
And he just returned cash.
He had all this money from benchmark.
Nobody was telling him to shut the company down, but he was like, I've only been thinking about consumer social for the last three years.
I know if I pivot again, it's going to be another consumer social idea because it's all my brain is wired to do right now.
So I need to shut this company down.
I need to return cash and I need to just go back to the drawing board.
And if and when I come up with another company, I'm going to come back to you with a seed round.
So I don't have the series A valuation hanging over my head.
And then there's other founders who have turned their entire team, maybe even half their founders, but they maintain the balance sheet and they went to like skeleton crew mode until they figured out things that had nothing to do with their first version of their business.
Clay is a really good example.
We wrote a small check into the seed round of Clay, I think eight years ago.
I think they hard pivoted two years ago into what Clay ultimately is.
Bappy is a company in our portfolio that was originally called Superpowered.
They're doing very, very well.
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