Navigating Startup Funding and Growth

This chapter explores the journey of raising $40 million in funding and the accompanying shifts in responsibilities and expectations. It highlights the challenges of managing finances, the importance of strategic investments, and the commitment to fostering a supportive company culture while maintaining autonomy.

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Brought to you by Athletic Greens’s AG1 all-in-one nutritional supplement, Helix Sleep premium mattresses, and Shopify global commerce platform providing tools to start, grow, market, and manage a retail business.

Elan Lee (@elanlee) is the co-creator and chief executive officer of Exploding Kittens, a leading gaming and entertainment company. Under his leadership, Exploding Kittens has expanded its portfolio to nearly 30 different games with more than 20 million games sold in more than 50 countries since its founding in 2015.

Before founding Exploding Kittens, Lee was the chief design officer at Xbox Entertainment Studios, where he led the Interactive Entertainment Portfolio. Prior to that, he was the founder and chief creative officer of Fourth Wall Studios and co-founder of 42 Entertainment. He began his career at Microsoft Games Studios as a lead designer on the original Xbox.

Lee has won a Primetime Emmy for the series Dirty Work; Game Innovator of the Year for Exploding Kittens; a Peabody Award for the world’s first alternate reality game, The Beast; and an IndieCade Trailblazer Award for a distinguished career in interactive entertainment, among others.

Please enjoy!

This episode is brought to you by Shopify! Shopify is one of my favorite platforms and one of my favorite companies. Shopify is designed for anyone to sell anywhere, giving entrepreneurs the resources once reserved for big business. In no time flat, you can have a great-looking online store that brings your ideas to life, and you can have the tools to manage your day-to-day and drive sales. No coding or design experience required.

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[06:00] Poetry For Neanderthals and collaborating with creative cohorts.

[16:41] Kitty Test Pilots and core gameplay loops.

[22:21] Crowdfunding, alternate reality games, and internet archaeology.

[25:54] Matthew Inman and The Oatmeal millions.

[32:18] The perils of operating faster than the speed of Gmail.

[34:06] Converting casual fans into superfans.

[34:51] What not to do when your Kickstarter goes better than expected.

[36:51] The budget of production needs to fit the fun.

[43:01] Does size matter?

[44:44] From direct-to-consumer sales to being featured in big box stores.

[47:07] Building a game from scratch quickly.

[52:26] Guiding principles.