How Nichole Wischoff Won The Internet To Raise $50 Million For Her VC Firm
Forbes Daily Briefing
Forbes
4.4 • 18 Ratings
🗓️ 6 September 2024
⏱️ 5 minutes
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Summary
The prolific online poster at Wischoff Ventures plans to write checks of $1 million or so into startups in areas like the “new supply chain” from her Nashville-based fund.
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Transcript
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| 0:00.0 | Here is your Forbes Daily Briefing for Friday, September 6th. |
| 0:05.0 | Today on Forbes, how Nicole Wishoff won the Internet to raise 50 million dollars for her |
| 0:11.0 | VC firm. |
| 0:18.0 | When shopping startup checkmate went viral in December 2022, its little team was caught by surprise. |
| 0:20.0 | Their app, which offers personalized deals to users, promised a cash back bonus for referring new users. |
| 0:27.0 | As it's soared to the top slot in Apple's App Store, bots swarm the program, and Check's back-end software couldn't keep up. |
| 0:34.8 | Human shoppers who didn't see their bonuses started filing thousands of customer support tickets |
| 0:39.5 | to complain. One of Checkmate's co-founder vomited from the stress, another CTO Rory |
| 0:45.4 | Garten Smith, started having panic attacks. Then he called Nicole Wishoff. |
| 0:50.9 | The founder and sole general partner at Wishoff Ventures. Wishoff was a late |
| 0:55.7 | addition to checkmates cap table, a so-called quote wild card who had shouldered her way into its |
| 1:01.5 | five million million seed round |
| 1:03.4 | through her hustle and promise of operational help. |
| 1:06.7 | Just three months later, she proved it. |
| 1:09.4 | Her fortitude in the face of crisis and her advice, |
| 1:12.4 | hire an operations expert and over-communicate with |
| 1:14.9 | users, helped checkmate weather the storm. |
| 1:18.6 | Garton Smith, who asked Wishoff to join his board as an observer following the crisis said, quote, |
| 1:24.4 | She's been handy for us in navigating so many situations like that. She's |
| 1:28.6 | everything. She's everywhere. |
| 1:30.1 | Checkmate's story is unusual for Wishoff only because it's a consumer startup in a portfolio of mostly business to business companies. |
| 1:39.0 | Otherwise, in the four years since she started investing, |
... |
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