Equity The mmhmm story and how it plans to spend its $100M
Jul 28, 2021
Phil Libin, founder of mmhmm and former Evernote leader, returns to share insights on his innovative video communication service. He discusses securing $100 million in funding and the commitment to enhancing user experience. Libin emphasizes the importance of building a diverse team to tackle software challenges. The conversation also touches on the evolution of video conferencing since the pandemic and advocates for asynchronous communication as a means to improve collaboration and flexibility in modern work environments.
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mmhmm's Origin
- mmhmm began as a joke in May 2020 during the pandemic lockdown.
- Phil Libin and his team experimented with video tools to alleviate boredom, using a green camping towel as a makeshift green screen.
From Joke to Prototype
- Phil Libin used a green camping towel for visual effects during Zoom calls.
- He created a quick prototype and showed it to investors like Roelof Botha at Sequoia, who encouraged him to develop it further.
Fundraising Philosophy
- Phil Libin views fundraising as an obligation, not an accomplishment.
- He believes that raising money quickly requires a plausible big-picture idea and a product people want immediately.