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☆ Bonobos cofounder Andy Dunn has a new IRL social startup. Read the 31-page pitch deck it used to raise $11.5 million.
▼ + stars: | 2024-10-02 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +4 min

Pie, an IRL social startup, raised $11.5 million in Series A funding led by Forerunner Ventures. Founded by Bonobos' Andy Dunn, Pie focuses on in-person connections and events. One of many emerging "IRL social" apps, Pie lets users plan and join in on IRL hangouts. Advertisement"This is venture-backed startups," Dunn said, adding that by the time of Pie's Series B, it will have a monetization engine locked down. Read the 31-page pitch deck that Andy Dunn used to raise Pie's Series A:Note: Pie has redacted details and amended some pages so that the document could be shared externally.

Persons: Bonobos, Andy Dunn, Pie, —, Dunn, Vivek Murthy, Kirsten Green, Ev Williams, Marisa Fanco's, wasn't, " Dunn, Mary Doctor Organizations: Forerunner Ventures, Service, IRL, US, Origin Ventures, Pie's Locations: Chicago, New York City, Los Angeles, San Francisco

☆ This 44-year-old founder and CEO is stepping down to go on a 3-year religious mission. 'I feel such confidence that this is the right thing.'
▼ + stars: | 2023-04-30 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +11 min

Davis Smith founded Cotopaxi, an outdoor gear company and certified B Corporation, in 2014. In July, he will step down as CEO to go on a 3-year religious mission in Brazil. Damien Huang, Cotopaxi's president who joined the company from Eddie Bauer, where he was CEO, will move into the role. "But I feel such confidence that this is the right thing." And we don't do that by isolating ourselves or saying, "We're better than you," or "You're not doing it right."

☆ Private venture-capital returns from one of the largest endowments reveal Union Square Ventures has been wildly successful. Sequoia and Y Combinator have lost money so far.
▼ + stars: | 2023-01-23 | by ( Ben Bergman | ) www.businessinsider.com time to read: +6 min

USV's 2004 fund returned more than $305 million in cash from a $22 million UTIMCO investment, with an IRR of 66%. Thrive Capital, the venture firm Joshua Kushner founded in 2009, has delivered -34% IRR on two funds from late 2021. UTIMCO's $6.7 million invested has been marked down to $4.6 million. Two funds UTIMCO invested in the VC firm Initialized at the beginning of 2022 have a -5.5% IRR. Upfront Ventures, the most prominent early-stage firm in Los Angeles, has returned only $31 million though UTIMCO invested $110 million since 2015.

☆ How the Pandemic Changed E-Commerce—and Where It Goes Now
▼ + stars: | 2022-10-30 | by ( ) www.wsj.com time to read: 1 min

Kirsten Green, center, and Lydia Jett, right, talk about the future of e-commerce at the WSJ Tech Live conference. The world of online retail is facing a stark reality: During the pandemic, when many people were stuck at home, they went shopping online. Now that things are returning to normal, e-commerce sales are slowing or falling. What are online sellers going to do?

☆ Prolific unicorn backer Brad Svrluga dishes on the 'lower valuations' and 'long waits for funding' that await founders this fall
▼ + stars: | 2022-09-20 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +3 min

For Brad Svrluga, cofounder and general partner of VC firm Primary, venture deals are ramping up. Here's why he thinks this new normal is good for founders, who need to set "rational expectations." Startup founders and venture capitalists across the country have begun to see signs of a fall comeback after the first summer slowdown in two years. In 2021, the hyper-competitiveness of the market meant that VCs were offering some startups term sheets in a matter of minutes. Still, for early-stage founders looking to raise today, the days of easy money and competing term sheets are gone.

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