Startups Decoded S2E13: From Fundraise to Exit: What Every Founder Needs to Know — Jennifer Lewis, Exited Founder - Lex
In this episode, Andy Walsh sits down with Jennifer Lewis, former Founder CEO of queer social app Lex, to unpack the full arc from first fundraise to exit.
Jennifer shares what really happens behind the scenes when you’re raising as a queer female founder, how she navigated a co-founder departure mid-fundraise, and why “perfect data rooms” don’t close rounds, relationships, and conviction do.
They walk through how she scaled Lex into a beloved LGBTQ+ community, decided to sell to 9count, and protected the mission and culture through the acquisition.
If you’re a founder wrestling with fundraising, leadership, or whether to sell, this is a candid, hard-won playbook from someone who’s actually done it.
Jennifer Lewis
Jennifer is an expert in launching and scaling startups from Seed to Series B. With global experience across Nike, Universal Music, Unilever, and Pepsi, she brings a bold, creative mindset to growth. She’s known for her work in women’s health, LGBTQ+ tech, and community-driven brands, and has led Lex through a major rebrand and exit. Jennifer has won 3 marketing effectiveness awards and over 40 creative awards.
Chapters
- 00:00 Introduction to the Journey of a Founder
- 01:28 From Advertising to Startups: Jennifer’s Background
- 04:47 Building Lex: A Personal Mission
- 09:57 The Importance of Fast Decision-Making
- 17:19 Navigating Co-Founder Dynamics and Fundraising
- 21:53 Navigating Leadership and Team Dynamics
- 25:34 Lessons from Fundraising Challenges
- 29:12 The Reality of Fundraising for Female Founders
- 33:16 The Importance of Culture in Acquisitions
- 36:41 Reflections on the Acquisition Decision
- 39:59 Exploring New Ventures and Personal Growth
About Lex
Lex is a social app for LGBTQ+ connection, inspired by vintage personal ads. Originally launched in 2019, it grew into a vibrant digital community for queer expression, with over 1 million downloads and millions of messages sent monthly. In 2024, Lex was acquired by 9count, home to other social platforms like Wink and Summer.
Music Credit:
“Neptuno” - Phondupe (Album: Onykia)
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