Secret Leaders with Dan Murray-Serter & Chris Donnelly  cover image

Secret Leaders with Dan Murray-Serter & Chris Donnelly

‘Unicorn status? It’s meaningless!’ And why entrepreneurs are born not made | Evidation Founder Christine Lemke

Aug 29, 2023
Christine Lemke, Co-Founder and CEO of Evidation, discusses her unique origin story and the creation of Evidation, an app that rewards users for daily activities. She shares her indifference towards unicorn status, highlighting the importance of financial stability. The podcast also explores topics like growing up in a lawless town, internet connectivity solutions, the significance of co-founder relationships, and the challenges faced by startups.
01:02:33

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Unicorn status does not significantly impact consumer trust and credibility, which is more influenced by financial stability.
  • Achieving profitability is seen as a more meaningful milestone than reaching unicorn status.

Deep dives

Funding Challenges and Unicorn Status

The company has raised around $250 million in funding, with the latest round being $150 million led by Omer's and B Capital. Funding rounds were difficult, with the need to speak to numerous venture capitalists to convey the unique and unconventional business model. The most recent funding round was easier due to market conditions, with funds readily investing at a high valuation. Being a unicorn has provided access to influential individuals and opened doors, aiding networking and relationship building in the industry. However, it has had limited impact on consumer perception and trust. Trust is built more from financial stability demonstrated through a strong balance sheet, especially during business deals with larger companies. The consumer base is more concerned with the experience provided by the app rather than the unicorn status.

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