The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: Wolt CEO, Miki Kuusi on Leadership Lessons Scaling to a Reported $8.1BN Exit to Doordash, Building Teams not Families, The Difference Between Trust and Safety Within Companies, How To Use Compensation to Create Culture & Why You Should Not Be Lookin
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Nov 28, 2022 Miki Kuusi, CEO of Wolt and now Head of DoorDash International, shares insights from his journey of scaling Wolt to an $8.1 billion exit. He discusses the importance of building a strong team culture that prioritizes trust over safety and emphasizes the value of transparency in compensation. Miki reflects on the challenges of leadership, the delicate balance of focus in decision-making, and the need to adapt hiring strategies as the company grows. His personal anecdotes reveal the sacrifices and insights that shaped his leadership style.
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Wolt's Gradual Aha Moment
- Miki Kuusi's "aha" moment with Wolt wasn't singular but a gradual realization.
- He saw smartphones as remote controllers for life, starting with food delivery.
Finding Product-Market Fit
- Wolt initially focused on pick-up orders, but it wasn't the explosive success they hoped for.
- The true product-market fit was found in delivery, bringing restaurants to customers.
E-commerce Dual Nature
- E-commerce companies are both consumer brands and logistics companies.
- The key to success lies in convenience and quality.
