The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: Okta Founder Frederic Kerrest on Why You Want To Be A Monopolist In A Small Market, The Biggest Challenges in Scaling Okta To IPO and Being a16z's First Ever Fund Check

May 3, 2019
Frederic Kerrest, the Founder and COO of Okta, shares insights from his journey in building a leading secure identity management platform. He discusses the importance of targeting small markets to achieve monopolistic advantages. Frederic reflects on the challenges Okta faced leading up to its IPO, particularly balancing vision with realism during tough times. He also highlights the significance of market evaluation and the dynamics of securing venture capital, drawing on lessons from his time at Salesforce and his relationship with a16z.
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ANECDOTE

Okta's Founding

  • Frederic Kerrest co-founded Okta 10 years ago after working at Salesforce.
  • He saw the opportunity in cloud computing and the need for an identity management layer.
INSIGHT

Salesforce Inspiration

  • Witnessing Salesforce's hypergrowth firsthand was invigorating for Frederic Kerrest.
  • It showed him the value of SaaS and inspired Okta's creation.
ADVICE

Market Focus

  • Focus on large, growing markets when choosing investment opportunities.
  • Great teams can pivot products to fit these dynamic markets, which is what matters in venture.
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