20VC: From Penniless Printing Shop Offices to Public Company and One of the Largest Entertainment Companies: The Story of LADbible | The Future of Content & Social Media | US vs Europe: Is Europe F****** with Solly Solomou
Feb 14, 2025
auto_awesome
Solly Solomou, Founder and CEO of LADbible Group, shares his remarkable journey from running a printing shop to leading a global entertainment company. He recounts pivotal moments, like meeting Kevin Hart, that sparked his entrepreneurial spirit. Solly discusses the lessons learned from product failures and emphasizes the importance of building a business without external funding. He explores future trends in content, addressing the influence of wearables and the changing social media landscape, while contrasting the business environments in the US and Europe.
Solly Solomou built LADbible from a printing shop office to a public company without initially relying on external funding.
Adaptability and resilience were crucial for Solly in overcoming obstacles, like the mysterious deactivation of their Facebook page.
Entering the US market sooner could have presented better growth opportunities for LADbible, highlighting different dynamics between US and UK entertainment sectors.
Deep dives
The Journey from Humble Beginnings to a Global Phenomenon
The company began in a small office above a printing shop, where Solly Solomu initially focused on creating a profitable business without any prior understanding of investment. His entrepreneurial spirit was evident from an early age as he engaged in various small businesses while still in school. The first product he launched was an online student community that catered to peers by recommending venues in their area. With minimal funding and a passion for entrepreneurship, Solly's focus from the beginning was to ensure the business was profitable from day one.
Leveraging Social Media for Growth
Solly recognized early on that engaging with audiences on Facebook was crucial for the growth of his business. After discovering an existing Facebook page, Lab Bible, with a significant following, he proactively negotiated its acquisition to leverage its audience for his new venture. This decision allowed him to tap into an established community of users, helping his platform quickly gain traction. Solly utilized various marketing tactics, including collaborations and promotional materials, to drive traffic and advertisers to the revamped Lab Bible platform.
Expansion and Adaptation Amidst Challenges
As the business grew, Solly faced several challenges, including a significant moment when their Facebook page was mysteriously deactivated, threatening their entire operation. Through determination and resourcefulness, he managed to connect with Facebook’s CTO, enabling the page’s recovery and allowing the brand to continue its expansion. Such experiences underscored the importance of adaptability and resilience in the rapidly evolving media landscape. He emphasized that operating under pressure often spurs creativity, pushing the company to innovate solutions to unforeseen problems.
Strategic Decisions in Entering New Markets
Reflecting on past decisions, Solly expressed a desire to have entered the US market sooner, seeing a substantial opportunity for growth. He acknowledged that the size and scale of the US entertainment market offered different challenges and potentials than those available in the UK. The company eventually established an office in the US, employing a local team to better navigate the market's unique dynamics and consumer preferences. This strategic decision aims to enhance Lab Bible’s presence and influence within the competitive landscape of digital media.
The Path to Going Public
Transitioning from a private to a public company was a significant milestone for Solly and Lab Bible, facilitated by an IPO that raised around £120 million. This move was intended to provide the financial means to accelerate growth in the US and support future expansion plans. Although the experience differed from expectations due to the pandemic, Solly noted the valuable learning curve associated with this transition. Looking ahead, he considers a dual listing in the US as a potential future step, depending on the growth trajectory of their American operations.
Founder and CEO of LADbible Group, Solly Solomou has built one of the largest and most engaged digital media entertainment companies in the world. Under his leadership, LADbible has grown to reach two-thirds of 18-34-year-olds in the UK, with a global audience of over 494 million followers, including 141 million in the US. The company’s content now has a total reach of over 1 billion people worldwide.
In Today’s Episode We Discuss:
From Printer Shop Office to Ringing the IPO Bell:
How did Solly start LADbible with no money and no experience?
How did a moment with Kevin Hart and Ice Cube show Solly that he had something special with LADbible?
In the expansion of the business, what new products did not work? What did Solly learn from the failures of products?
Why did Solly always want to build the business without an external funding?
What are the top 3 pieces of advice Solly gives to young entrepreneurs starting a business today?
The Future of Content and Social Media:
How does Solly see wearables changing the future of media and social?
Does Solly agree that the friendship graph has been eradicated by interest graphs?
Does Solly think TikTok should be banned?
Why does Solly think TikTok Shop is the most interesting product in social today?
Europe vs US: Is Europe F******:
What are the single biggest differences between doing business in the US vs Europe?
Why did Solly decide to go public in London on The London Stock Exchange?
How tough is it being a public company in London?
How important are local liquidity markets if Europe is to regain competitiveness?
If Solly were advising Keir Starmer on how to stimulate growth in the UK, what would he say and advise?
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode