20VC: The Rise of Quick Commerce and Why CPGs ARe Misaligned Being Powered By Ad Spend, The 5 Core Components Consumers Care About When Ordering Today & Why Amazon and Alibaba Will Not Be The Big Players in 10 Years with Ralf Wenzel, Founder & CEO @ JOKR

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

🗓️ 27 September 2021

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ralf Wenzel is the Founder & CEO @ JOKR, a global platform for instant retail delivery at a hyper-local scale. To date, Ralf has raised over $170M for the company from the likes of GGV Capital, Balderton, Softbank and Kaszek, just to name a few. Prior to JOKR, Ralf spent close to 7 years as the Founder & CEO @ foodpanda as well as enjoying roles as Chief Strategy Officer @ Delivery Hero, Interim Chief Product and Experience Officer @ WeWork and even moving to the other side of the table as a Managing Partner with Softbank.

In Today’s Episode with Ralf Wenzel You Will Learn:

1.) How Ralf made his way into the world of startups and came to found foodpanda? What were his biggest takeaways from foodpanda that have impacted how he thinks about scaling JOKR today?

2.) Fulfillment Centres: What are the selection criteria when deciding what is the right location for a fulfillment center? How does real estate cost differ when comparing LATAM to the US? How does Ralf think about the balance between consumer choice and SKU minimization? In what way does Ralf believe they have a moat due to their catalog management system?

3.) The Driver: Why is JOKR different to every other provider in the way they employ their riders? Does it not severely impact their margins by providing equal benefits across their entire rider workforce? How many drops per hour is a good level of driver efficiency? What have been Ralf's biggest lessons when it comes to driver retention?

4.) The Consumer: How did JOKR acquire their first consumers on the demand side? What marketing strategies worked? What did not work? Is Ralf concerned by the immense amount of money invested in the space driving customer acquisition prices way higher? How has Ralf seen CACs change over time in mature markets?

5.) Expansion Opportunities: How does Ralf feel about incorporating own brand products, produced by JOKR over time? How does this change the margin profile of the business? How does Ralf feel about paid search as a core part of their business? Will CPGs be able to pay to be ranked higher in JOKR?

Transcript

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0:00.0	Welcome back. This is 20VC with me, Harry Stebbings. And if you didn't hear our incredible first 20 growth
0:04.7	episode from Wednesday, then do check that out. It really is a must. But to our episode today, and on
0:09.2	Monday we had hands at GGV on the show, and he mentioned their latest investment in Joker. And I'm
0:14.0	thrilled to have Ralph Wenzel, founder and CEO at Joker, join me in the hotat today. For those that do not know, Joker is a global platform for instant retail delivery at a hyper-local scale.
0:23.8	To date, Ralph has raised over $170 million for the company from the likes of GGV, Balderton, SoftBank and Kazik, to name a few.
0:31.4	Prior to Joker, Ralph spent close to seven years as the founder and CEO at Food Panda, as well as enjoying roles as chief strategy officer,
0:38.3	a delivery hero, interim chief product and experience officer at WeWork, and even moving to the
0:42.7	other side of the table as a managing partner with SoftBank. But before we dive into the show
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	...

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