The CTO Show with Mehmet Gonullu #344 Building a Startup for Gen Z: Sam Obletz on the Evolution of Claim
In this episode of The CTO Show with Mehmet, we are joined by Sam Obletz, CEO and co-founder of Claim, a rewards-based social app designed for Gen Z. Sam shares his inspiring entrepreneurial journey, starting from his early ventures in Portland, Oregon, to founding Claim and securing funding from major investors like Sequoia Capital. We delve into the motivations behind Claim, the challenges faced in the startup journey, and the innovative strategies used to engage Gen Z consumers.
Key Topics Discussed:
1. Sam’s Entrepreneurial Journey:
• Early ventures in computer integration and web design.
• Experience in investment banking at Goldman Sachs and its influence on his entrepreneurial path.
2. Founding Claim:
• The inspiration behind Claim and the gap in the market it aims to fill.
• The importance of building something big and beautiful for consumer engagement.
3. Challenges and Insights:
• Overcoming the challenges of starting a company.
• The role of early entrepreneurial experiences in shaping business acumen.
• Insights on the competitive advantage gained from starting young.
4. Marketing and Consumer Engagement:
• The innovative “drop” strategy used by Claim to create excitement and FOMO.
• The importance of word-of-mouth marketing and creating authentic consumer experiences.
• How Claim is leveraging Gen Z’s social behaviors for organic growth.
5. Fundraising Journey:
• Securing funding from Sequoia Capital and other major investors.
• Tips for founders on raising funds and the importance of aligning with mission-driven investors.
• The differences in fundraising in different market conditions.
6. Future of Claim:
• Expansion plans and the vision for Claim’s global growth.
• The technical complexities and backend fintech integrations that support Claim’s operations.
• Long-term goals and the roadmap for Claim’s evolution.
7. Advice for Entrepreneurs:
• The significance of passion, patience, and perseverance in the entrepreneurial journey.
• Surrounding yourself with smart people and having a long-term perspective.
• Practical advice for building a startup focused on Gen Z.
Links and Resources:
01:15 Sam Obletz's Early Entrepreneurial Journey
02:11 From Investment Banking to Founding Claim
05:01 The Genesis of Claim
06:18 Understanding Gen Z and Marketing Challenges
08:59 Claim's Unique Approach to Marketing
14:20 Expanding Claim's Reach and Future Plans
24:00 Fundraising Journey and Insights
38:15 Advice for Aspiring Entrepreneurs