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The Tai Lopez Show

How He Built A $9 Billion Company and Recovered From Failure

The Tai Lopez Show

Tai Lopez

Business

4.86.9K Ratings

🗓️ 10 May 2016

⏱️ 8 minutes

🧾️ Download transcript

Summary

Here at Knowledge Society Headquarters I spoke with Coppy Holzman, founder of Webvan.com. Webvan was an online grocery business during the Dotcom era, in 1998, that became a billion dollar company by 1999. After the Dotcom bubble bursted in 2000, Coppy's company Webvan went out of business. He has since recovered with new businesses, many of which include Charitybuzz.com and Prizeo.com.Learn more about your ad choices. Visit megaphone.fm/adchoices

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Transcript

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0:00.0

Copy, what did you learn from starting a nine billion dollar company back at

0:06.1

what year was that? We started in 98 when public in 99 and went out of business

0:12.9

in 2000. So going from zero to nine billion down to zero. What I learned was

0:18.3

pretty simple that you always have to pay attention to your customers. So we

0:22.3

started the company that was really slow, was doing well. Our customers loved

0:27.0

us. Then Wall Street and Silicon Valley liked us even more. This is back in the

0:31.7

dot call. Exactly. So the idea was focus on growing open in every major market.

0:37.4

So we were building distribution centers in 26 cities at the same time at

0:41.4

50 million dollars a pop. And you know what? You didn't pay attention to your

0:44.7

customers because you were worried about getting bigger for tomorrow. And Wall

0:48.8

Street changed. They wanted dot coms to make money instead of just growing

0:52.7

fast. And we went out of business. But the lesson I learned from that is that

0:56.2

if you pay attention to your customers. So in that situation, Webman was home

1:00.0

delivery, you're working from the web. So you make sure that like peaches when

1:05.5

they're delivered, they are fresh. They're not bruised. You make sure that if

1:08.9

you prepare some some males that they're delicious. If it's a mom that's

1:12.6

buying it and she's working, she still wants to make sure that it's prepared

1:16.4

with love and it's delicious. So if you deliver and exceed people's expectations,

1:20.7

they'll stay with you and you'll grow. So the lesson I learned is forget about

1:23.9

huge growth, focus on each and every customer, each and every customer is

1:27.4

important. And if you do that, you grow quickly. Yeah, most and most people get

1:32.9

so infatuated with their idea, their business, whatever idea they have in

...

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