Go viral, Rene Rechtmann
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This document summarizes the growth of Goviral, a video technology company, from its founding in 2003 to being acquired by AOL in 2011 for $100 million. It describes how Goviral grew from a small startup to serving major brands globally through building state-of-the-art video technology, expanding its network of publishers, and establishing international offices. The document also discusses Goviral's considerations around expanding further through additional growth capital or a potential acquisition by a larger company like AOL, which ultimately acquired Goviral in 2011.
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Go viral, Rene Rechtmann
- 1. V?kstfonden Ren¨¦ Rechtman May 2012
- 2. From greenfield ¡to $100m exit
- 3. Spot it and ride
- 4. The world anno 2003/2004
- 5. What was the business going to be? Original Sustainable idea product
- 6. What do you want to be when you grow up?
- 7. The businessman and the inventor Ambition Invention Professionalism Creativity Commercial Passion Scale Domestic Packaged product Playful Driven Introverted
- 8. A clear vision emerged GROWTH/VALUE + To create and engage audiences globally
- 10. Audiences North America presents opportunity ¡but other regions present for user growth¡ significant growth opportunities Millions of Users Penetration Rate ? Asia has 922.3M internet users¡ ? ¡but only realizes a 23.8% penetration rate ? Europe has 476.2M internet users¡ ? ¡and realizes a 58.3% penetration rate ? North America has 272.1M internet users¡ ? ¡and realizes a 78.3% penetration rate ? Latin America has 215.9M internet users¡ ? ¡but only realizes a 37.0% penetration rate Source: Internet World Stats (2011)
- 11. International considerations EU ? ? ? US ? APAC ? GLOBAL ? Accessibility¡.
- 12. Technology is the foundation Optimisation Social Video All Devices Facebook Twitter Ticker Developer SDK Tracks Everything White Label
- 13. Where to start? Documentation Automated management Scalability Automated optimization Automated data collection C++, php Automated reporting Htlm5, flash, java Automated publisher Agile Multi language Multi geographies Multi currency Multi jurisdiction Multi location
- 14. Culture Everything is possible Winning is the only option Hard work Urgency 9AM ¨C 7 PM Agile International Options Fighting Share success
- 15. Structure Individual responsibility Individual targets Individual Accountability P/L driven and attachment Country targets Corporate targets Weeks status Monthly P/L evaluation Bi-annually individual evaluation
- 16. The DNA of the people you need Hungry Entrepreneurs No limits International Hard workers Value for money London Talent from the world Wanted Dynamic Limited talent Solutions, please Not humble Comfortable Think big Too expensive Denmark Limited global outlook
- 17. Ready for it? ? 80 people/29 nationalities ? World class leadership attracts world class team ¨C A players hire A players ¨C B players hire C players ? Poor performers need to leave FAST ¨C Bad for culture ¨C Bad for product ¨C Bad for clients etc. ? No HR
- 18. A race against time Global race for video (Silicon valley) Not only local competition shaping up Risk capital available in volume Entry barrier is low Technology is cheap Talent looking for ¡°next big thing¡± Speed and Momentum is key..!
- 19. Professionalism I knew from day one that we needed an institutional investor ? Professionalism ¨C Mickey mouse board meetings ? World class network ? Experience ? Access to more capital ? Attract talent ? ¡°Green card¡±
- 20. Two ways¡ Bootstrapping VC ¡°Classic¡± ? Stay in control ? Confident in unlimited scale ¨C Make a formula for growth/ scale ¨C Strong BP/team/beta ¨C Growth capital (3-5x) ¨C Angel ¨C Pros ¨C VC (10X) ? Control your destiny ¨C Pros ¨C Cons ? Going all the way ? Not pushed to the limit ¨C Cons ? The VC make the shots
- 21. Two ways¡ Bootstrapping VC ¡°Classic¡± ? Stay in control ? Confident in unlimited scale ¨C Make a formula for growth/ scale ¨C Strong BP/team/beta ¨C Growth capital (3-5x) $100m vs $390m ¨C Angel ¨C Pros VC added a 4X factor ¨C VC (10X) ? Control your destiny ¨C Pros ¨C Cons ? Going all the way ¨C Cons ? Not pushed REMEMBER¡You start a relationship¡. to the limit ? The VC make the shots Make sure that the personalities match and you get the right experience
- 22. Crisis! 50% growth while the world fell apart ? Stayed focused ¨C Scalability ? De-select short term opportunities ¨C Reckett, Pre-roll, MPU video ? Trusted our instincts ? Invested in the business ¨C Tech, people and international 08 09 10
- 23. The goviral we built Video technology Network Sales State of art video player tech +30,000 mid & long-tail publishers Trading with all 4 major networks HTML 5 player in production +70% long tail views 17 of top 20 global brands as clients GVN distribution platform Measurement & Optimization International operation 60m views delivered MoM, 136 metrics, full customization 7 offices, 4 partners C++, infinitely scalable A/B testing environment 85 countries served
- 24. Back to hyper growth On track for an exit 09 10 11
- 25. Video Deciding the future..? Considerations Solutions ? US expansion ? More growth capital ? Asia expansion ? New VC partners ? Product expansion ? Merger with US player ? Competition ? Selling the business ? Market development ? Business as usual ? Risk
- 26. The wish list for Aol Growth business Growth market Strategic importance Strong team Good tech platform In the right markets Profitable
- 27. The latest chapter In January 2011 Aol acquired goviral for $100m in cash