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

20VC: How To Strategically Build The Right Investor Base, Why Startup Timing is Like Surfing & How To Determine Whether Someone is Scaling with the Organisation or Not with Daniel Lewis, Founder & CEO @ Convoy

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

4.4637 Ratings

🗓️ 23 March 2018

⏱️ 30 minutes

🧾️ Download transcript

Summary

Dan Lewis is the Founder & CEO @ Convoy, the startup that really is the future of freight with trucking services powered by technology to drive reliability, efficiency and insights. To date they have raised over $80m in funding from some of the world's best-known investors and individuals including Y Combinator Continuity Fund, Greylock, Jeff Bezos, Marc Benioff, Drew Houston, Kevin Systrom and leading angels, Ali and Hadi Partovi. Before Convoy, Dan served as general manager of new shopping experiences at Amazon and spent time at Google and Microsoft in a number of logistics-related roles.

In Today’s Episode You Will Learn:

1.) How Daniel first fell in love with the logistics space as a little boy, made his move into the world of tech with Google and Microsoft and came to found Convoy?

2.) How does Dan truly define the differences between linear and non-linear businesses? Why does Dan believe that startup timing is like surfing? How must founders think about this through the different stages of the business?

3.) What was Dan's strategy for choosing the right investors and how did he think about board composition? How can investors be used to build customer trust? How does Dan analyze and look to enhance board chemistry? What was a time for Dan when he actively went against the advice of the board? How did that play out? 

4.) Why did Dan accept so many investors at the seed round? What changed between rounds that made Dan want to go big with the $62m Series B? Does Dan agree with Reid Hoffman, "if you can raise the money, do"? Why did Dan choose YC Continuity Fund as the lead growth investor of choice? What were the benefits?

5.) Why does Dan believe that scaling the first initial customers is the hardest of all? Why does Dan believe that a culture of experimentation is key across functions? How does Dan think about his own scaling as CEO? How has he seen his role change with the growth of the firm? What have been the biggest challenges of this personal learning?

Items Mentioned In Today’s Show:

Dan’s Fave Book: The Stranger by Albert Camus

As always you can follow HarryThe Twenty Minute VC and Dan on Twitter here!

Likewise, you can follow Harry on Instagram here for mojito madness and all things 20VC.

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Transcript

Click on a timestamp to play from that location

0:00.0

Hello and welcome back to the 20 minute VC and Founders Friday with me, Harry Stebbings.

0:04.1

You can see more from us behind the scenes at H. Stebbings, 1996, with 2Bs on Instagram, and I would love to see you there.

0:11.0

But time for the show today, and as a logistics nerd myself, I've wanted to have this guest on the show for a long time,

0:16.5

so I'm very excited to welcome Daniel Lewis to the hot seat today. Now, Dan is the founder and CEO at Convoy,

0:22.3

the startup that really is the future of freight, with trucking services powered by technology

0:27.2

to drive reliability, efficiency and insights. To date, they've raised over $80 million in funding

0:32.9

from some of the world's best known investors and individuals. Check this out. They have the

0:37.0

lights of Y Combinator Continuity Fund, Greylock, Jeff Bezos, Mark Benioff, Drew Houston, Kevin Sistram,

0:43.7

and leading Angels Ali and Hadi Partovey. Before convoy, though, Dan served as general manager

0:48.6

of new shopping experiences at Amazon and also spent time at Google and Microsoft in a number

0:53.1

of logistics-related roles.

0:54.7

And I do also want to say a big thank you to Anu at YC and Human Radfar at Exper for the intro to

0:59.8

Dan today, without which this episode would not have been possible.

1:02.9

But before we dive into the show today, what are we without a great night's sleep?

1:06.5

And that's where Lisa comes in.

1:08.0

Lisa is the Warby Parker or Tom's shoes of the mattress industry.

1:11.3

They've done away with the terrible mattress showroom buying experience by creating this

1:15.1

luxury premium foam mattress that's ordered completely online and shipped for free to your

1:20.0

doorstep. The 10-inch mattress comes in all sizes and is engineered with three unique foam

1:24.7

layers for a universal adaptive feel, including two inches of memory foam and two inches of a really cool latex foam called Avena, designed to keep you cool.

1:33.3

All Lisa mattresses are 100% US or UK made, and for every 10 mattresses they sell, they donate one to a shelter.

1:39.3

So go to Lisa.com for your perfect night's sleep, And if you're like me and lose sleep worrying about the

...

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