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☆ How fashion influencer Tezza turned photo filters into an app with $32 million in projected yearly revenue and a newly launched print magazine
▼ + stars: | 2023-09-21 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +4 min

With an Instagram audience of 1.2 million followers, a popular photo-editing app, and now a magazine, Tessa Barton — better known by her moniker Tezza — is building a media empire. The Tezza app, similar to photo-editing tools like Adobe's Lightroom or VSCO, announced this week that it had surpassed 20 million downloads and has about 2.5 million monthly active users. Turning social media followers into app usersGrowing an audience on social media helped the two cofounders build and grow the app. Barton's latest world-building play took place during New York Fashion Week in September, where the influencer launched a new magazine: Tezza Magazine. Its content pulls from brands Barton has collaborated with or admires, as well as art created by Tezza app users.

Persons: Tessa Barton —, Barton, Cole Herrmann, Tezza, Puss Puss, Sydney Bradley Organizations: New York, Tezza, V Magazine Locations: New York, New

☆ 'Be a disciplined company.' How Klaviyo broke the IPO dry spell, according to its CEO.
▼ + stars: | 2023-09-20 | by ( Melia Russell | ) www.businessinsider.com time to read: +8 min

CEO Andrew Bialecki told Insider that being a "disciplined company" was key to its success. Jeff Bussgang, a general partner at Flybridge Capital Partners in Boston, told The Boston Globe in an interview, "I'm seeing green shoots — it's definitely back on the agenda for boards." KlaviyoBialecki told Insider he tried to run a "disciplined company," one of two ingredients to its success. "There's a false choice here between being high growth and doing things efficiently," Bialecki told Insider. Are you a Klaviyo insider with insight to share?

Persons: Klaviyo, Andrew Bialecki, Bialecki, Tomasz Tunguz, Jason Lemkin, Jeff Bussgang, — it's, Ed Hallen, it's, Hallen, Klaviyo Bialecki, That's, Klaviyo Bootstrapping, Jon Karlen, Karlen, Melia Russell Organizations: Service, Klaviyo, New York Stock Exchange, Flybridge Capital Partners, Boston Globe, Securities and Exchange Commission, Boston Locations: Wall, Silicon, Instacart, Boston, BostInno, Massachusetts, mrussell@insider.com

☆ Some startup founders say VC influence is 'debilitating.' Here's why they are turning down outside funding and bootstrapping instead.
▼ + stars: | 2023-09-14 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +6 min

But when it comes to his current startup, an AI platform for businesses called Iterate, Nordmark is staunchly against relying on outside funding. Nordmark is part of a growing league of founders who are opting for bootstrapping, which means growing startups without relying on outside funding from investors. Six startup founders interviewed by Insider also say that in some cases, they're actively turning down opportunities for funding to keep maximum control of their business plans. Founders who have eschewed VC funding say that bootstrapping allows them to go — and grow — at their own pace. To be sure, some startup founders are still taking big checks from VCs when the timing is right.

Persons: Jon Nordmark, Samsonite, Nordmark, they're, it's, MailChimp, Brooke LeBlanc, VCs, Dr, Bobbi Wegner, SVB, Evan Jager, we're, Dori Yona, Jason Burke, – Burke Organizations: Insider, VCs, Apple, Oracle, Intuit, Founders Locations: VCs, Boston

☆ Fishing startups are making the industry more sustainable by repelling bycatch, recycling nets, and tackling dredging — but they need more cash to stay afloat
▼ + stars: | 2023-09-08 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +9 min

But overfishing has left some fish stocks depleted, while destructive fishing practices like dredging have harmed ecosystems . Ocean tech has the additional challenge of "dealing with this chemically rich liquid that basically eats everything that goes into it," Watson said of the ocean. Blue Ocean Gear's data-collecting buoy. Blue Ocean GearFishing for fundingBut Falconer is competing with buzzy tech sectors in the pursuit of venture capital. Without cash flowing in, fishing tech could face a brain drain.

Persons: Daniel Watson's, SafetyNet, Daniel Watson Dan, Eric Li, James Dyson, Enki, Watson, Ed Phillips, Phillips, Dado Ruvic, Kortney Opshaug, Opshaug, it's, Ava Ocean, Maren Hjorth Bauer, Ava Ocean's, Hjorth Bauer, Ian Falconer, I'm, Falconer, haven't Organizations: Venture, Service, SafetyNet Technologies, European Union, Future Planet Capital, Aquaculture, REUTERS, NASA, Ocean, Investors, multibillion, Strategic Locations: London, Dubrovnik, Croatia, Bering, Cornwall

☆ ComBio wants industrial players to use sustainable biomass instead of fossil fuels for heat generation. Check out the 9-slide pitch deck it used to raise $90 million in growth capital.
▼ + stars: | 2023-09-08 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

Brazilian company ComBio wants industrial players to swap out fossil fuel boilers for biomass. Founded in 2008, ComBio has developed biomass-based systems to remove the need to use oil and gas when generating heat. The company sources biomass from agricultural and forestry waste, which it said is sustainable and would typically have no other use. "If you look at the energy transition on heat, on thermal, you have quite limited options and by far the best one is biomass," Filho said. Check out the 9-slide pitch deck the company used to raise the funds below.

Persons: Lightrock, ComBio, Paulo Skaf Filho, Filho Organizations: Capital, Renewables, US International Trade Administration Locations: London, Brazil, Europe

☆ Andrew Bialecki built Klaviyo into an email titan by breaking all the norms. Now he's taking it public as its largest shareholder.
▼ + stars: | 2023-09-01 | by ( Melia Russell | ) www.businessinsider.com time to read: +8 min

Andrew Bialecki is preparing to take Boston startup Klaviyo public eleven years after founding it. Bialecki, who cofounded the marketing tech company in 2012, owns more than a third of Klaviyo, according to the company's recent S-1 filing. In the last eleven years, the 37-year-old has quietly built the hottest Boston startup you've never heard of. For comparison, HubSpot's Brian Halligan and Toast's Chris Comparato reported salaries of roughly $240,000 before taking their Boston startups public. Bialecki has also sold few shares of Klaviyo in inside rounds, according to two people familiar with the company's financials.

Persons: Andrew Bialecki, Jason Lemkin, Peter Walker, Klaviyo, Yankee frugality, Barry Chin, Ed Hallen, Hallen, Bialecki, Alexa von, TJ Mahony, he's, Elias Torres, Bootstrapping, Jon Karlen, Karlen, Mahony, Alex Clayton, frugality, HubSpot's Brian Halligan, Toast's Chris Comparato Organizations: Boston Globe, Getty, MIT's Sloan School of Management, Capital, Harvard University, Predictive Technologies, Fortune, Red Sox, Meritech Capital, Boston, Black, Patriots Locations: Boston, Coast, Bialecki, Washington, DC, Klaviyo, Braze, Miami

☆ How Preply became one of the largest online language learning startups in the world
▼ + stars: | 2023-08-28 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +4 min

He started to see the potential for online language tutoring as a viable business model, since online lessons were cheaper than in-person lessons and class schedules were more flexible. In the summer of 2012, Bigai, Voloshyn and Lukyanov founded the online language learning startup Preply. Last month, Preply raised a $70 million Series C extension round with a combination of debt and equity led by Horizon Capital. Reach Capital, Hoxton Ventures and Owl Ventures, which led its previous $50 million Series C in 2022, also participated. The company's successful fundraising comes after a difficult year personally for the Preply team.

Persons: Preply, Kirill Bigai, Dmytro Voloshyn, Sergey Lukyanov, Bigai, Lukyanov, James Kim Organizations: Preply, Horizon Capital, Morning, Skype, Horizon, Reach, Hoxton Ventures, Owl Ventures, Datadog, Bain, Reach Capital Locations: Ukraine, Boston, Texas, Barcelona, Kyiv, Berlin, Czech, Russia

☆ My company lost $450K because we didn't fire 5 wrong hires quickly enough. It's important to 'fire fast' — even though it's difficult.
▼ + stars: | 2023-08-22 | by ( Melissa Kwan | ) www.businessinsider.com time to read: +9 min

After spending too much time and money because I'd rather avoid tough conversations, I finally learned the importance of "firing fast." The concept of "hire slow, fire fast" has been popularized by startup culture, referring to the agility required to grow a company in a competitive environment. In our first two years, we made five wrong hires that ended up costing $450K because we didn't "fire fast." The most expensive thing about wrong hires is not money — it's time (and sadly sometimes friendships, as mentioned above). While not all costs can be avoided — because you don't know what you don't know — they can be mitigated by "firing fast."

Persons: Melissa Kwan, Kwan, It's, it's, I've, Dev, we'd, —, We've Organizations: Morning

☆ Mushrooms are flourishing in the Abu Dhabi desert
▼ + stars: | 2023-08-10 | by ( Sarah Lazarus | ) edition.cnn.com time to read: +4 min

Now, a startup in Abu Dhabi has found a way to grow them in the middle of the desert. Below Farm is producing “specialty mushrooms” such as oyster, king oyster, shiitake and lion’s mane. Managing director Bronte Weir says the indoor farm, about 45 minutes’ drive from downtown Abu Dhabi, is the first in the region to grow and sell high-end mushrooms. He now orders 20 kilograms (44 pounds) of oyster mushrooms a week from the company. Neighborhood pizzeria Marmellata uses Below Farm's produce on one of its most popular dishes: the kale and mushroom pizza.

Persons: Bronte Weir, ” Weir, Liliana Slowinska, Wojciech Slowinski, Weir, isn’t, Abu, we’ve, ”, “, we’re, Dagstani Organizations: Hong Kong CNN, CNN Business, Business Research Company Locations: Hong Kong, Abu Dhabi, Europe, United States, UAE

☆ Mark Cuban nearly went broke at age 27—and became a millionaire 5 years later
▼ + stars: | 2023-08-10 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

Mark Cuban vividly remembers the moment he realized he was nearly broke. The secretary took about $82,000, effectively wiping out MicroSolutions' account balance, Cuban confirmed to CNBC Make It. Cuban then helped co-found AudioNet, which became Broadcast.com and was acquired by Yahoo for $5.7 billion in 1999, making Cuban a billionaire at age 40. "Once you learn how to sell, you can always start a business, [because] you're an entrepreneur at heart," Cuban told The School of Hard Knocks last year. Disclosure: CNBC owns the exclusive off-network cable rights to "Shark Tank," which features Mark Cuban as a panelist.

Persons: Mark Cuban, TikToker Bobbi Althoff's, Cuban, Barstool, wasn't, Forbes, multimillionaire, NPR's, Rainer Zitelmann, Warren Buffett Organizations: CNBC, New York Times, Cisco, CompuServe, Yahoo, Cuban, Fortune, Hard Locations: Cuban

☆ Here's the 7-slide presentation healthcare startup Helpful used to raise $7.5 million for its management program for family caregivers
▼ + stars: | 2023-08-01 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +2 min

Healthcare startup Helpful wants to disrupt the family caregiving industry. Check out the 7-page pitch deck Helpful used to secure $7.5 million from Redesign Health. Helpful launched in July with a 5,000-caregiver waitlist, CEO Wes Donahoe, who was a founder-in-residence at Redesign Health while building the startup, told Insider. Redesign Health is a startup studio that creates, builds, and funds healthcare startups from the ground up. Check out the seven-slide pitch deck Helpful used to raise $7.5 million in seed financing from Redesign Health.

Persons: waitlist, Wes Donahoe, Donohoe Organizations: Health, National Alliance for Caregiving, AARP, Ianacare, Medicare, Senior Health Care, Catalyst, CVS, Aily

☆ Seeking nominations for the top angel investors funding creator economy startups in 2023
▼ + stars: | 2023-07-31 | by ( Sydney Bradley | Amanda Perelli | ) www.businessinsider.com time to read: +2 min

Insider is compiling our 1st annual list of the top angel investors in the creator economy. From Hollywood celebrities to startup founders to influencers, the creator economy has been bootstrapped by many famous angel investors. Typically high-net-worth individuals, angel investors provide startups with funding using their own money, unlike venture capital firms. And Jack Conte, CEO and cofounder of Patreon, has also invested in several up-and-coming creator startups, like financial-management company Stir and online courses startup Creator Now. In order to be considered for this list, angel investors must have written checks to at least two startups between January 2022 and August 2023.

Persons: influencers, Jack Conte Organizations: Morning

☆ I felt stuck in banking, so I quit to start a $2 million tech company without any experience. Here's how I knew it was time to transition into something better.
▼ + stars: | 2023-07-21 | by ( Robin Madell | ) www.businessinsider.com time to read: +10 min

He launched his own tech business and recommends all potential founders learn about sales. I was more comfortable failing at that point in my life than working a job that I thought wasn't realizing my potential. What worked for me was making a list of other people who've been really successful networkers after first studying them by reading articles or listening to podcasts. Back when I was in college, I wish I knew that college is more about networking than learning. With this strategy in mind, if you think you're going to start a business, then college isn't needed, in my opinion.

Persons: Daniel Fayle, Fayle, It's, it's, —, We're, who've, Brian Grazer, you've, isn't, They've, Jenna Gyimesi Organizations: Warner Brothers, Nike

☆ Here's the 12-slide pitch deck Prolific, a startup providing quality data to train AI models, used to raise $32 million
▼ + stars: | 2023-07-12 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Prolific, a startup providing quality data for AI training, has raised $32 million in fresh funds. The Y Combinator graduate company aims to help AI models avoid biases and inaccuracies. A startup that gathers quality data to help train AI models has raised $32 million in fresh funds. The company offers researchers access to "fast smart human feedback at scale" that can help AI data sets avoid biases and inaccuracies. Prolific's £25 million (around $32 million) Series A funding comes from Partech and Oxford Science Enterprises (formerly Oxford Science Innovation).

Persons: Phelim Bradley, Bradley Organizations: Oxford Science Enterprises, Oxford Science Innovation, Google, Meta, Stanford University, University of Oxford Locations: London, Partech

☆ Here's an exclusive look at the pitch deck AI-powered hiring startup RecruitBot used to raise $8.2 million in seed funding led by Slow Ventures
▼ + stars: | 2023-07-11 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +4 min

Recruitbot is a startup that uses AI to analyze and match potential job candidates to open roles. The team has just raised $8.2 million in new seed funding led by Slow Ventures. Some of the features include using AI for automating the search for qualified candidates by scraping data from LinkedIn and with other talent databases. The team got in touch with Sam Lessin, the general partner at Slow Ventures, after many of Lessin's portfolio companies started using RecruitBot for their hiring. Check out the 19-slide pitch deck that Recruitbot used to raise $8.2 million in seed funding: Note: certain proprietary information has been redacted.)

Persons: Jeremy Schiff, Schiff, Recruitbot, Kevin Mahaffey, Sam Lessin Organizations: Slow Ventures, OCA, Freestyle Capital, Parade Ventures Locations: OpenTable

☆ In the Age of A.I., Tech’s Little Guys Need Big Friends
▼ + stars: | 2023-07-05 | by ( Cade Metz | ) www.nytimes.com time to read: +1 min

From Hewlett-Packard to Google, the tales of bootstrapped companies that have turned into giants has inspired generations of entrepreneurs. In 2019, Aiden Gomez and Nick Frosst left Google to create an A.I. Several months later, they went back to Google and asked if it would sell them the enormous computing power they would need to build their own A.I. The big companies like Google, Microsoft and Amazon, he added, are controlling the chips. “They’re controlling the computing power,” he said.

Persons: Google Bard, Aiden Gomez, Nick Frosst, Sundar Pichai, ”, David Katz, Cohere’s, They’re, “ Organizations: Hewlett, Packard, Google, today’s, Radical Ventures, Microsoft Locations: Toronto

☆ This couple bootstrapped their way to a multimillion-dollar business. Here are their top tips for success
▼ + stars: | 2023-06-01 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +5 min

The duo shared three tips with CNBC Make It on how to run a successful business — in good and bad times. Putting customers firstWhen it comes to building a successful business, Hamilton has one guiding principle: you have to make products that people love. She launched the hair masque in 2018 when she saw a "mid-tier space" in hair care products that had yet to be filled — products of salon-grade quality, but at an affordable price. When people love one product, you can convert product love to brand love. "When people love one product, you can convert product love to brand love," Ostrowski shared.

Persons: Emily Hamilton, Alexander Ostrowski, Coco, Tik, Ostrowski, Emily, Hamilton, Emily Hamilton Co, they're, —, it's, Alexander Ostrowski Co, there's, I've Organizations: CNBC, Hamilton, Eve, Coco Locations: Bali, Singapore, Covid

☆ Check out the pitch deck that Ukraine startup Fuelfinance, which aims to help finance teams replace Excel with better tools, used to raise $1 million from a war zone
▼ + stars: | 2023-05-04 | by ( Melia Russell | ) www.businessinsider.com time to read: +2 min

In January, it raised $1 million in seed funding from angels at Google, Meta, and Salesforce. That's the situation Alyona Mysko found herself in as the chief executive and cofounder of Fuelfinance, a tiny accounting startup based in Ukraine. In January, Fuelfinance raised $1 million in a seed round of funding from angel investors at companies including Google, Meta, Salesforce, and Uber. Fuelfinance is taking on giants like Microsoft Excel and Pilot with its cloud-based approach to financial planning. Here's the pitch deck that Fuelfinance used to convince employees of Google, Meta, and Salesforce to invest $1 million.

☆ Grime, dirt, stink and funk: Tween boys are skincare’s hottest market
▼ + stars: | 2023-03-26 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +6 min

But, until recently, there’s been a glaring shortage of products targeting the skincare needs of one key demographic – tween boys. Maguiness, a board-certified pediatric dermatologist, and three other co-founders launched the boys skincare brand in 2020, at the height of the pandemic. The affordable line, which includes a face wash, body wash, moisturizer and topical acne treatment priced under $25, rolled into Target stores and online the following year. courtesy Stryke ClubThe personal care products market overall in the US amounts to more than $25 billion annually (according to market research firm NPD), but very little of it caters to boys. The body wash, for example, contains prebiotic chia eed extract, which acts as an anti-inflammatory and anti-microbial ingredient, said Biren.

☆ Grime, dirt, stink and funk: Tween boys are skin care’s hottest market
▼ + stars: | 2023-03-26 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +6 min

But, until recently, there’s been a glaring shortage of products targeting the skin-care needs of one key demographic – tween boys. The affordable line, which includes a face wash, body wash, moisturizer and topical acne treatment priced under $25, rolled into Target stores and online the following year. “Whether it’s young sensitive skin, or acne, eczema or their first shave, boys have specific skin needs,” said Maguiness. courtesy Stryke ClubThe personal care products market overall in the US amounts to more than $25 billion annually (according to market research firm NPD), but very little of it caters to boys. The body wash, for example, contains prebiotic chia seed extract, which acts as an anti-inflammatory and anti-microbial ingredient, said Biren.

☆ Inside the demise of Vice, from turning away a $3.5 billion Disney offer to a 'painful' downward spiral that has the media giant scrambling for a buyer
▼ + stars: | 2023-03-21 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +19 min

The talks fizzled, Disney backed off, and Smith set off for California to drum up other interest in Vice Media. Vice Media Group co-CEOs Bruce Dixon, left, and Hozefa Lokhandwala. Vice Media GroupOne former Vice insider familiar with the current situation told Insider that staffers were warning vendors they needed to threaten to stop work in order to get paid. Just a few months later, Rupert Murdoch tweeted, "Who's heard of Vice Media? Refinery29 quickly lost key staff and was not well integrated into Vice Media, the two former staffers said.

☆ 2 college friends created energy gum and mints that got the attention of Kevin O'Leary and Robert Herjavec on 'Shark Tank.' They turned down the offers and still built a 7-figure business while workin
▼ + stars: | 2023-03-02 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +9 min

College friends Kent Yoshimura and Ryan Chen came up with the idea of making caffeinated gum in 2013. "Shark Tank" stars Robert Herjavec and Kevin O'Leary both wanted a piece of the company when the co-founders entered the tank three years ago. Yoshimura and Chen came up with the idea of creating energy gum and mints on a 2013 scuba diving trip. Courtesy of Kent Yoshimura and Ryan ChenIt was on a scuba diving trip in 2013 when the friends thought about creating an energy product more approachable than pills. Turning down a $1 million deal from Robert Herjavec on 'Shark Tank'In 2019, Yoshimura and Chen got a casting call from the hit business reality TV show "Shark Tank."

☆ I started an Instagram fan page for luxury watches and turned it into an $8 million resale business — here's how
▼ + stars: | 2023-02-13 | by ( Claire Turrell | ) www.businessinsider.com time to read: +9 min

He launched the company in 2020 and opened a brick-and-mortar store in a mall in Hong Kong in 2021. When I was being interviewed by Hypebeast in Hong Kong, I met my future cofounder and ecommerce expert Sean Wong. By July 2020, Sean had left his job, and I'd moved to Hong Kong to launch the brand. The Wristcheck store in the Landmark Atrium mall in Hong Kong. By November 2022, we'd raised $8 million, with our lead investors being Gobi Partners, who manage the Alibaba Hong Kong Entrepreneurs Investment Fund.

☆ Hundreds of flexitarians are flocking to this vegan burger upstart. Here's why.
▼ + stars: | 2023-02-11 | by ( Nancy Luna | ) www.businessinsider.com time to read: +6 min

Plant-based burger chain Next Level Burger is backed by Whole Foods. He'd given up red meat in 2010, after his mother died of cancer at 56. Both became early backers of de Gruyter's brand, Next Level Burger, which has grown to nine restaurants in six states. Following a $20 million raise last fall, Next Level Burger opened its 10th location and second restaurant in Seattle in late January. Next Level Burger patties are made of quinoa and mushrooms.

☆ 5 tips for using TikTok as a small business owner without it taking up all of your time
▼ + stars: | 2023-01-18 | by ( Erin Greenawald | ) www.businessinsider.com time to read: +7 min

TikTok can be a great platform for small business owners to market their products or services. This article is part of "Marketing for Small Business," a series exploring the basics of marketing strategy for SBOs to earn new customers and grow their business. "I thought TikTok was all dancing and for Gen Z," Kim, who launched her business in December 2020, told Insider. Be a regular TikTok userKim said using TikTok regularly is a great way to come up with ideas and spot patterns and trends that you can apply to your own content. "You have to know who your audience on each platform is and talk to that audience," Kim said.

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