What You Need to Know Before Raising Capital, and The Billion-Dollar Media Company You’ve Never Heard of

Founder's Journal

Morning Brew

Entrepreneurship, Careers, Business

4.8 • 1.1K Ratings

🗓️ 15 November 2022

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Episode 7: Today, hosts Alex Lieberman (@businessbarista), Sophia Amoruso (@sophiaamoruso), and Jesse Pujji (@jspujji) recount the wild story of how the digital media company Red Ventures bootstrapped its way to becoming a business with an $11 billion valuation. Then, the crew dives into fundraising—when to do it, how to set your goals, and their best advice for how to raise most successfully. And finally, the crew answers a Startup AMA question around how find the most attractive benefits packages at the best rates as a small company. #TheCrazyOnes #Startups #Entrepreneur Listen to The Crazy Ones here: https://link.chtbl.com/OV4W93_W Subscribe to Morning Brew! Sign up for free today: https://bit.ly/morningbrewyt Follow The Brew! Instagram - https://www.instagram.com/morningbrew/ Twitter - https://twitter.com/MorningBrew Tik Tok - https://www.tiktok.com/@morningbrew 00:33 - Intro 02:02 - The Rundown 03:15 - The story of Ric Elias and Red Ventures 08:09 - Ric’s life-changing experience 08:51 - How Red Ventures’ growth started to take off 12:10 - Red Ventures’ great work culture 13:29 - Jesse’s biggest takeaways from working with Red Ventures 15:38 - How Ric Elias spends his time 24:16 - Sophia’s experience of fundraising and her biggest lessons learned 30:51 - What kind of businesses should raise money vs shouldn’t? 36:29 - Sophia’s advice for founders looking to raise capital right now 37:05 - Jesse’s advice for founders looking to raise capital right now 37:37 - Alex’s advice for founders looking to raise capital right now 37:58 - Startup AMA - How do startups get attractive benefits packages at competitive rates before they get a large headcount? Links: Ric Elias TED Talk You’ve Never Heard of the Biggest Digital Media Company in America Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	People who join a five person company they generally are not going to walk in and go I need a laptop
0:04.8	I need a t-shirt and I need lots of proper health care and you know I mean I don't I don't know man
0:11.0	I know in my experience having started these three things nobody's expectations are that you you're clean there even for me is it like
0:17.0	They get it and you just have to be honest like hey guys we're switching between this and just buy your own shirts
0:22.1	I'll be money if you're a girl and not if you're a girl boss. You can't get away with it if you're the girl boss good luck
0:29.2	Oh wow drop dropping that in the last minute
0:34.0	What's up everyone? I'm Alex Lieberman and I'm Sophia and Maruso. Yo, this is Jesse Pooji and this is the crazy ones
0:44.2	What's up everyone welcome back to another episode of the crazy ones the greatest startup show on planet earth as always joined by my co-host
0:53.0	Jesse Pooji aka baby Buffett and Sophia and Maruso the Dean I
0:58.4	Think an audience member called me the mailman the other day
1:01.6	So I'm gonna be the mailman until you guys give me a better name. Can I be the sandwich artist?
1:07.2	The sit I mean it's kind of long, but why are do you make good sandwiches?
1:11.3	What's my subway was my first job? Oh?
1:14.4	I don't really that really detailed
1:17.3	Okay, so you modern Murdoch how about that if I'm baby Buffett your modern Murdoch
1:22.9	I like that. Okay, I'll be I'll be the modern Murdoch. Um anyway
1:27.3	For those of you have watched the crazy ones before welcome back to the show for those of you who somehow stumbled here
1:34.3	Whether it's through YouTube's amazing algorithm or a friend telling you that you have to watch or listen to this
1:39.9	welcome work side-free to be a part of the community and
1:43.9	Quick housekeeping before we hop into the show shoot us an email at the crazy ones at morning brew calm
1:50.0	Introduce yourself give us feedback on the show share ideas for how you want this to get better for you the listener
1:56.1	We want this to be a community of just amazing entrepreneurs
	...

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