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Tom Digan

đŸ‘€ Speaker
322 total appearances

Appearances Over Time

Podcast Appearances

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

You can look at app store metrics and see that our business is inflecting and see that the growth rate has been really strong.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

And so there's a lot of investor interest.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

What's unique about conversation with investors now is we're in a strong position in that because of the general catalyst deal, we control the timeline on raising money.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

Our business now generates cash.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

It sustains itself.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

That doesn't mean we don't have huge ambitions.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

We do, as Greg just talked about, like we want to be the system of record in health and fitness.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

That's going to require raising additional capital, at least another round, and continue to invest in particularly product and engineering.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

Fortunately, we have some great investors already around the table right now.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

And the way we've been approaching it is start to go and spend time with a small group of really high quality investors to get to know them outside of the context of a fundraising round, which is not something that we were used to.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

Now you have time to actually build rapport and get to know people when you're not raising money.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

What I think is important there, four or five years ago, it was, it's cash.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

Greg just went with the wife, so I can't do that, even though that would be the obvious.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

I've got to thank my wife, who's been putting up with me since we were 19.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

What I'd say is I would thank my dad, actually.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

When I try and describe to my kids what it is I do or what my role is, I always say that I sell.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

That's what I do.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

And when I think about that, the quote that always got me excited was what Ken Griffin would say, where I don't even think it was his line, but if we're all going to eat, someone's got to sell.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

And that always pumped me up that selling was important.

Invest Like the Best with Patrick O'Shaughnessy
Tom Digan & Greg Stewart - Building the World’s Best Fitness App - [Invest Like the Best, EP.454]

And it wasn't always something that was transactional, but