Equity Yeah, but is that venture backable?
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Aug 2, 2023 Sara Mauskopf, CEO and co-founder of Winnie, a childcare marketplace, shares her journey in the evolving childcare sector. She discusses how Winnie carved its niche and the unique challenges of scaling in a care-focused market, especially post-pandemic. Sara highlights the discrepancies in funding opportunities between childcare and eldercare. She also tackles the undervaluation of care work in society and the pressing need for innovative solutions that support both childcare access and women's workforce participation.
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Winnie's Pivot and COVID Boost
- Winnie initially struggled to find product-market fit, pivoting from a directory to a Yelp-like platform for parents.
- The COVID-19 pandemic unexpectedly boosted Winnie's business as childcare providers sought online platforms to connect with families.
Unexpected Growth and Valuation
- Winnie's growth during COVID caught them by surprise, delaying their fundraising efforts.
- This unintentional delay proved beneficial, preventing them from being burdened by a high valuation during the subsequent downturn.
Fundraising Challenges and Lean Approach
- Winnie's fundraising journey has been challenging due to the perceived lack of "sexiness" in the childcare market.
- This forced them to adopt a lean, profit-focused approach, building a sustainable business.