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The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20Growth: How Revolut Acquired Their First 10M Users: Tips, Tactics and Strategies From the Revolut Product & Growth Playbook with Val Scholz, Former Head of Growth @ Revolut

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

The Twenty Minute VC

Finance, Venturecapital, Tech News, News, Siliconvalley, Technology, Investing, Startups, Business

4.4 • 637 Ratings

🗓️ 21 June 2024

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Val Scholz is the former Head of Growth @ Revolut, where he led the company to their first 10M users. Post Revolut, Val played a crucial role in scaling several high-growth companies including VEED, Simple & Busuu (exited for $400M). Today, Val is the Head of Growth at Kittl, an intuitive design platform empowering graphic designers.

In Today’s Episode with Val Scholz We Discuss:

  1. Lessons from Scaling Revolut to 10M Users

  • What were Val’s biggest takeaways during his time at Revolut?

  • What does Val consider the secret sauce behind Revolut’s success?

  • What did Val think Revolut understood about customers that no other bank did?

  1. The Secrets to Revolut’s Growth Playbook

  • What was Val’s best growth decision? What was his worst?

  • Why does Val think most companies don’t do referrals well?

  • What made Revolut’s signup strategy so successful?

  • What are Val’s two ways to master content marketing?

  • Does Val think it’s good to diversify growth channels? When should founders diversify?

  • What are Val’s strategies to make Youtube influencers successful?

  1. Product Marketing 101:

  • Why does Val think traditional marketing methods are outdated?

  • If traditional marketing methods are outdated, what should startups do instead?

  • What does Val think is the most dangerous myth around product-led growth?

  • What does Val believe are the most common mistakes founders make on optimizing products?

  1. Growth Hires: Who, What, When & How

  • When does Val think is the best time to hire a head of growth?

  • What is the profile Val looks for in a growth hire? What traits does he look for?

  • What are the most common reasons founders fail at hiring?

  • What does Val think are the biggest red flags to look out for in a CV?

  • How does Val define good culture? Did Revolut have a good culture?

 

Transcript

Click on a timestamp to play from that location

0:00.0

You want to go in a market where you don't have competition.

0:03.1

So if you think about Revolut against Monza, right, like the markets we grew the fastest wasn't the UK.

0:08.5

Romania, it was Poland.

0:10.6

We went in a lot of markets where we just didn't have competition, which allowed us to raise more money, build better products, hire more people.

0:16.6

There's always like a way you can see the market or you can segment the market where you basically build a product where essentially you don't have much competition where your product is 10x better than the status quo.

0:27.3

The best founders, they find these markets. They find these unique insights.

0:31.7

This is 20 Growth with me, Harry Stebbings. Now 20 Growth is the monthly show where we sit down with the best growth leaders in the world to share their tips, tactics and strategies on scaling growth teams.

0:42.0

Today we're joined by Val Schultz. Val was the head of growth at Revolut, one of the generational defining companies of our time.

0:50.2

Val scaled the user base at Revolut from zero to the first 10 million users.

0:56.0

In this episode, we reveal the tips, the playbook, the strategies that Revolute used to scale to 10 million users.

1:05.0

It is an incredible granular episode, really diving deep on gross strategy.

1:10.0

But before we dive into the show's day,

1:12.4

short form video has never been more important for your business. Social media managers, growth

1:17.2

marketers, this is the single biggest opportunity you have today. They say ad creative is king,

1:22.8

but man is UGC creative a pain in the ass to pull together? Imagine if you didn't have to. Captions just launched AI creator ads, so you can produce dozens of UGC-style creatives instantly. Just cast your AI creator, paste in your product URL, and drop in your product images. AI will take care of the rest. Captions will generate dozens of UGC-style creatives in seconds,

1:46.0

10x your creative output, and test more hooks than you ever thought possible, because let's be

1:51.0

honest, your current ad creative is fatiguing as we speak. UGC ads have never been so easy,

1:57.1

thanks to AI, save on the back and forth. Try AI creator ads on captions today. And speaking

2:02.5

of amazing tools like captions, let me tell you about Canva. When I spoke to Canva co-founder Cliff

2:07.8

Obrecht on the podcast last year, he touched on how visual content is fast becoming the fuel

2:12.8

that's driving the modern workplace. Your team needs to create an engaging visual pitch deck to sell in an

2:18.5

idea. A product launch needs an inspiring video to excite investors and customers. Projects gather

...

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