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.
36:01
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Quick takeaways
- Importance of founder-market fit for pursuing and investing in ideas.
- Challenges faced by Okta pre-product market fit and strategies for scaling.
Deep dives
The Story of Octa's Founding and Market Vision
Fredrick Karist, the founder and COO of Octa, shares the journey of founding Octa ten years ago as he and his co-founder Todd recognized the growing opportunity in software and infrastructure services. Starting with web single sign-on, Octa evolved to offer solutions like multi-factor authentication and lifecycle management, aligning with the industry's shift towards cloud services.
