Masters of Scale Raise more money than you need, w/Minted's Mariam Naficy
Nov 21, 2019
Mariam Naficy, founder of Eve.com and Minted.com, shares her experiences as a resilient entrepreneur navigating two economic downturns. She emphasizes the crucial mindset of raising more money than needed to prepare for unexpected expenses and pivots. Naficy discusses the biases faced by female founders during the dot-com boom and offers insights on balancing motherhood while building a business. She also explores innovative employee care strategies and the importance of customer insights amidst financial challenges.
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Negotiating with a 5-Year-Old
- Mariam Naficy had to negotiate buying the domain eve.com from a five-year-old girl, Eve Rogers.
- The negotiation involved equity, a board seat, trips to Idealab, and Disneyland.
Raise More Than You Need
- Raise more money than you initially think is necessary for your startup.
- Unexpected expenses, like Mariam Naficy's domain purchase, will always arise.
Rapid Scaling in the Dot-Com Boom
- Mariam Naficy's Eve.com raised $26 million in its first year and rapidly scaled to 120 people.
- This aggressive approach secured Eve.com the top spot in the online cosmetics market.