Masters of Scale Raise more money than you need, w/Minted's Mariam Naficy
Nov 21, 2019
Mariam Naficy, founder of Eve.com and Minted.com, shares her experiences as a resilient entrepreneur navigating two economic downturns. She emphasizes the crucial mindset of raising more money than needed to prepare for unexpected expenses and pivots. Naficy discusses the biases faced by female founders during the dot-com boom and offers insights on balancing motherhood while building a business. She also explores innovative employee care strategies and the importance of customer insights amidst financial challenges.
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Aggressive Fundraising
- In a competitive market, raise aggressively, as competitors are doing the same.
- Raising too little can lead to being outspent and losing market share.
Evite's Over-Fundraising
- Selina Tobaccowala reflects that Evite raised too much money ($37 million) during the dot-com boom.
- Focus on building a strong business with solid fundamentals before scaling.
From Boom to Bust
- Eve.com successfully navigated the dot-com crash, selling just before the market downturn.
- Mariam Naficy experienced a shift from celebrated entrepreneur to being shunned due to market resentment.