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Posts tagged as “build”

How to build a billion dollar digital marketplace – examples from Uber, eBay, Craigslist, and more

Marketplaces are easily underestimated When marketplaces get big, they can get really big. Some of the biggest tech successes ever – eBay, Airbnb, Alibaba, Uber – are marketplaces worth tens of billions of dollars each. And yet marketplaces often start small, in niches and weird corners of the Internet. As we all know, when eBay got started in 1995, it was focused on collectibles. The venerable venture capital firm, Bessemer Venture Partners, famously passed on an early investment: “Stamps? Coins? Comic books? You’ve GOT to be kidding,” thought David Cowan, a partner at Bessemer. “No-brainer pass.” An early investment in eBay would soon yield a 50,000% return from Series A to after the IPO, as the company started to help transact on everything from electronics, cars, homewares, and more. Two decades after eBay was founded, a similar story unfolded itself, this time over Uber (my current employer!) and the taxi market. NYU Professor Aswath Damodaran asserted that Uber was overvalued after a 2014 investment round. Based on data points from the global taxi and car-service market, he concluded the real number should be $5.9B. Since the 2014 article, Uber has blown past his estimate by 10X, with top line revenues to support it. Not bad. The reason the estimate was so off, as investor Bill Gurley pointed out, is that Uber goes beyond taxi use cases and grows the market substantially by unlocking many new categories of transportation. Another example of going from niche into more use cases over time. (As an aside, a slightly different flavor of the expansion of audiences and use cases leading to wild underestimates – this time my mistake: Why I doubted Facebook could build a billion dollar business, and what I learned from being horribly wrong) Starting small, and what to do nextIn both the eBay and Uber examples, we see that you can start with a niche – whether that’s a geography or product line – and then quickly scale into a huge network of buyers and sellers. It turns out that there are a couple key moves to make this happen, and today…

#1565 How to build an remote recruitment agency

This interview is about how to build an online recruitment agency, which enables businesses to find remote IT employees. What I’m trying to figure out is how today’s guest is competing in a world with so many recruitment companies that are so deeply venture backed. How is he getting customers? How is he finding the candidates? And then, what happened in the past when things didn’t exactly work out for him and he felt like he lost your soul running a previous company? Sharon Koifman is the founder of DistantJob, a boutique recruitment agency specializing in remote IT employees. Sharon Koifman is the founder of DistantJob, a boutique recruitment agency specializing in remote IT employees. Sponsored by With Bench, you get a professional bookkeeping team to do your books for you and our simple, elegant software to review your finances. It’s everything you need to forget about your bookkeeping, without actually forgetting about your bookkeeping. Sign up at Bench and get 20% off for your first 6 months. Regus has built an unparalleled network of office, co-working and meeting spaces for companies to use in every city in the world, an infrastructure to support every business opportunity. Their network of workspaces enables businesses to operate anywhere, without the need for set-up costs or capital investment. It provides our customers with immediate cost benefits and the opportunity to fully outsource their office portfolio. It’s a network designed to enhance productivity and connect 2.5 million like-minded professionals: an instant global community, and a place to belong. More interviews -> https://mixergy.com/moreint Rate this interview -> https://mixergy.com/rateint Powered by WPeMatico

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