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20VC: Revolut Founder Nik Storonsky on When and Where Revolut Will IPO & What Revolut Need to Do to Hit $100BN Valuation

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

Release Date: 12/04/2024

20VC: The Insane Story of DeliveryHero: Losing $200M on a Gorillas Investment | Winning the Emerging Markets Delivery War with 35 Acquisitions | Competing with Uber and Doordash in a Capital Arms Race with Niklas Östberg show art 20VC: The Insane Story of DeliveryHero: Losing $200M on a Gorillas Investment | Winning the Emerging Markets Delivery War with 35 Acquisitions | Competing with Uber and Doordash in a Capital Arms Race with Niklas Östberg

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

Niklas Östberg is the Founder and CEO of Delivery Hero, a global juggernaut now present in over 70 countries across four continents. In Q4 2024, the company announced GMV of $49BN with $12.8BN in revenue and $750M in EBITDA. They have made an astonishing 35+ acquisitions including $2BN for Glovo. Before launching Delivery Hero, Niklas co-founded Pizza.nu, leading its expansion across Sweden, Poland, Finland, and Austria. In Today’s Episode We Discuss: 04:09 How Skiing Prepared Me For Life As An Entrepreneur 10:12 Losing $200M on Gorillas Investment 17:58 Quick Commerce: Does the Business...

info_outline 20VC: Lessons from Investing $2BN and Returning $8BN in Cash | Why Most Venture Partnerships are Broken | We Sold Salesforce Early and Lost Out on Billions | Are The Best Deals Always Expensive and Competitive with Jake Saper @ Emergence Capital show art 20VC: Lessons from Investing $2BN and Returning $8BN in Cash | Why Most Venture Partnerships are Broken | We Sold Salesforce Early and Lost Out on Billions | Are The Best Deals Always Expensive and Competitive with Jake Saper @ Emergence Capital

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

Jake Saper is a General Partner @ Emergence Capital, one of the leading venture firms of the last 20 years. Their many wins include being early investors in Salesforce, Zoom, Veeva and more. In total, the firm has invested $2BN and returned an astonishing $8BN in cash with much more to come.  In Today’s Episode We Discuss: 04:45 The Zoom Investment Story 10:21 Founder, Market, Traction: Rank Them 26:37 Why Market Pull is the Most Important Thing and How to Know 27:23 Are the Best Deals Always Expensive? 28:25 What is the One Framework Emergence Use for Every Investment 29:08 Lessons...

info_outline 20Sales: Everything You Know About Sales Playbooks is Wrong | How to Hire and Train Your First Sales Hires | How to Crush Pipeline and Deal Reviews as a Team | How to Structure Sales Teams and Sales Comp Plans with Julian Teixeira, CRO @ 1Password show art 20Sales: Everything You Know About Sales Playbooks is Wrong | How to Hire and Train Your First Sales Hires | How to Crush Pipeline and Deal Reviews as a Team | How to Structure Sales Teams and Sales Comp Plans with Julian Teixeira, CRO @ 1Password

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

Julian Teixeira is the Chief Revenue Officer at 1Password, where he has grown B2B revenue over 8x and scaled a team of more than 450 in go-to-market. 1Password set the record for the largest raise in Canadian history at the start of 2022 and has raised nearly $1B in capital throughout his time with the company. Prior to 1Password, Julian served as the head of global sales at Lightspeed Commerce, a company he helped scale from startup to IPO and through over 10 acquisitions throughout his decade-long tenure.  In Today’s Episode We Discuss: 04:27 Sales Lessons from Scaling to $1BN in ARR...

info_outline 20VC: Lovable on Hitting $17.5M in ARR in 3 Months | Adding $2.1M ARR Every Week | Hitting 85% Day 30 Retention: Better than ChatGPT | The Story of Europe's Fastest Scaling Company with Anton Osika show art 20VC: Lovable on Hitting $17.5M in ARR in 3 Months | Adding $2.1M ARR Every Week | Hitting 85% Day 30 Retention: Better than ChatGPT | The Story of Europe's Fastest Scaling Company with Anton Osika

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

Anton Osika is the Co-Founder and CEO @ Lovable, the fastest growing startup in Europe. With Lovable, you can turn your idea into an app in seconds with just a prompt. After just 3 months, the company has scaled to $17.5M in ARR. They are adding $2M in net new revenue every single week. Even better, Lovable has 85% Day 30 retention rate, making it more retentive than ChatGPT.  In Today’s Episode We Discuss: 03:41 How a Side Project Turned into a $200M Company  05:39 Why Talent is 10x More Valuable Than Experience 08:57 How to Use a Waitlist Pre-Launch to 10x Growth 12:29 How to...

info_outline 20VC: Anthropic CPO Mike Krieger: Where Will Value Be Created in a World of AI | Have Foundation Models Commoditized | When Do Model Providers Become Application Providers | What Anthropic Learned from Deepseek show art 20VC: Anthropic CPO Mike Krieger: Where Will Value Be Created in a World of AI | Have Foundation Models Commoditized | When Do Model Providers Become Application Providers | What Anthropic Learned from Deepseek

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

Mike Krieger is the Co-Founder of Instagram and now CPO @ Anthropic.  In Today’s Episode with Mike Krieger We Discuss: 03:07 Where Will Value Be Created and Sustained in a World of AI? 04:59 Are Foundation Models Commoditised Today? 08:36 Should Founders Build for the Models of Today or Build for Models of the Future 12:19: Why Will Models Become More Different Than More Similar 16:38: Will Human or Synthetic Data Be More Prominent in the Future  19:28 Model Quality vs. Product UX 23:36 The Competitive Landscape of AI 32:27 Do We Underestimate China's AI Capabilities 33:59 What Did...

info_outline 20Growth: Inside Ramp's Growth Engine: How Ramp Became the Fastest Growing SaaS Company Ever | What Worked & What Did Not Work | How to Hire for Growth | How to Find Alpha in Channels Where No One Else Can with George Bonaci show art 20Growth: Inside Ramp's Growth Engine: How Ramp Became the Fastest Growing SaaS Company Ever | What Worked & What Did Not Work | How to Hire for Growth | How to Find Alpha in Channels Where No One Else Can with George Bonaci

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

George Bonaci is the VP of Growth at Ramp, where he’s helping one of the fastest-growing fintech companies scale even further. Prior to Ramp, George was VP of Growth at Gong. Before Gong, George was at Samsara where he helped grow revenue from <$100M to >$650M ARR, and played a pivotal role in the company’s successful IPO. In Today’s Growth Masterclass We Discuss: 03:57 How the Best Growth Teams Experiment 05:10 How to Allocate Bets and Resources for Growth 07:09 Velocity vs. Quality in Growth 15:05 The Role of Postmortems and How to Do Them 19:16 Growth Team Structure and...

info_outline 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo show art 20VC: The Insane Story of Glovo: Selling 30% of the Company for €100K | The McDonalds Deal That Saved Them | Running out of Money Three Times | Burning $1M Per Day | Being Acquired for $2.2BN with Oscar Pierre, Founder @ Glovo

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

Oscar Pierre is the Founder and CEO @ Glovo, the food delivery site that will get you anything you want to your doorstep. This story is insane, the company was started by Oscar 11 years ago, in their pre-seed round they sold ⅓ of the company for €100K. The company was later saved by a deal they made with McDonald's. The company nearly ran out of money on several occasions, one time the funding round came from the CEO of Rakuten who Oscar met an FC Barcelona drinks. Today, they are a part of DeliveryHero who acquired them for $2.2BN, they have delivered 1BN orders and have almost 60M...

info_outline 20VC: Why Google Will Win the AI Arms Race & OpenAI Will Not | NVIDIA vs AMD: Who Wins and Why | The Future of Inference vs Training | The Economics of Compute & Why To Win You Must Have Product, Data & Compute with Steeve Morin @ ZML show art 20VC: Why Google Will Win the AI Arms Race & OpenAI Will Not | NVIDIA vs AMD: Who Wins and Why | The Future of Inference vs Training | The Economics of Compute & Why To Win You Must Have Product, Data & Compute with Steeve Morin @ ZML

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

Steeve Morin is the Founder & CEO @ ZML, a next-generation inference engine enabling peak performance on a wide range of chips. Prior to founding ZML, Steeve was the VP Engineering at Zenly for 7 years leading eng to millions of users and an acquisition by Snap.  In Today’s Episode We Discuss: 04:17 How Will Inference Change and Evolve Over the Next 5 Years 09:17 Challenges and Innovations in AI Hardware 15:38 The Economics of AI Compute 18:01 Training vs. Inference: Infrastructure Needs 25:08 The Future of AI Chips and Market Dynamics 34:43 Nvidia's Market Position and Competitors...

info_outline 20VC Exclusive: Mercor Raises $100M at a $2BN Valuation: Scaling to $70M in ARR in 24 Months | 9-9-6: 9AM-9PM - 6 Days Per Week: The Most Intense Culture in Silicon Valley | The Future of Programming, Models and Data with Adarsh Hiremath show art 20VC Exclusive: Mercor Raises $100M at a $2BN Valuation: Scaling to $70M in ARR in 24 Months | 9-9-6: 9AM-9PM - 6 Days Per Week: The Most Intense Culture in Silicon Valley | The Future of Programming, Models and Data with Adarsh Hiremath

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

Adarsh Hiremath is the Co-Founder and CTO @ Mercor, an AI recruitment platform and one of the fastest-growing companies in technology. They have scaled to $70M in ARR in just 24 months. They are famed for working 6 days per week, 9AM to 9PM. All of their founders are Thiel fellows, they are also the youngest unicorn founders ever with the fundraise announced today raising $100M led by Felicis at a $2BN valuation.  In Today’s Episode We Discuss: 04:36 How Debating Makes The Best Founders 06:05 Do People Treat You Differently When a Unicorn Founder 10:58 Scaling to $70M ARR in 24 Months...

info_outline 20VC: NVIDIA vs Groq: The Future of Training vs Inference | Meta, Google, and Microsoft's Data Center Investments: Who Wins | Data, Compute, Models: The Core Bottlenecks in AI & Where Value Will Distribute with Jonathan Ross, Founder @ Groq show art 20VC: NVIDIA vs Groq: The Future of Training vs Inference | Meta, Google, and Microsoft's Data Center Investments: Who Wins | Data, Compute, Models: The Core Bottlenecks in AI & Where Value Will Distribute with Jonathan Ross, Founder @ Groq

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

Jonathan Ross is the Founder & CEO of Groq, the creator of the world’s  first Language Processing Unit (LPUTM). Prior to Groq, Jonathan began  what became Google’s Tensor Processing Unit (TPU) as a 20% project where he  designed and implemented the core elements of the first-generation TPU chip.  Jonathan next joined Google X’s Rapid Eval Team, the initial stage of the famed  “Moonshots Factory”, where he devised and incubated new Bets (Units) for Google’s  parent company, Alphabet. In Today’s Episode We Discuss: 04:20 Interview with Jonathan...

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Nik Storonsky is the Co-Founder and CEO of Revolut, one of the fastest-growing companies in the world with a $45BN valuation and 50M customers around the world. In July 2024, Revolut posted a whopping $2.2BN in revenue with $545M in pre-tax profit in 2023. To date, Nik has raised $1.8BN for the company from the likes of Index, Balderton, Ribbit, DST and TCV. 

In Today’s Show with Nik Storonsky We Discuss:

1. When & Where Will Revolut IPO:

  • What does Revolut need to do or change before they are ready to go public?

  • When would Nik like for Revolut to go public?

  • When they do go public, where would Nik list? Would it be in London?

  • How does Nik respond to claims that he has moved to Dubai for tax reasons?

2. What Revolut Needs to Achieve to Hit $100BN:

  • Why has no challenger bank won the US market yet?

  • What will Revolut do differently to allow them to win the US market?

  • What market share will Revolut have in Europe in 3 years time?

  • What line of the business that does not exist today, will be the biggest in 5 years time?

3. How to Build an Execution Machine:

  • Why does Nik believe the biggest mistake he made was hiring senior managers?

  • What have been Nik’s biggest lessons on how to hire for roles you have never hired for before? What works? What does not?

  • How does Nik retain insane velocity of execution at scale?

  • How does Nik bucket people into three different buckets? What does each bucket mean for the type of work they do and the expectations placed on them?

4. How Revolut Tests New Products:

  • How does Revolut use a portfolio approach to test new product ideas?

  • How are teams for new ideas structured? What roles do they have?

  • How much time and resources are they given?

  • What is the tracking process to determine the success of new products?

  • What % of new products do succeed and progress to the core app?

  • Which product did Nik think would be massive but turned out to be a flop?

  • What did Nik not expect to be massive and turned out to be mega hit?

5. The UK and Europe: Are We F******:

  • The Chancellor has said we will have no growth in the UK for the next 3 years. How does it feel for Nik to grow Revolut in this environment?

  • If Nik could advise Keir Starmer on how to turn the UK around, what would he say?

  • Why does Nik believe the US has created so many more $100BN companies?

  • Why does Nik believe that work/life imbalance is the secret to success and happiness?