

Consumer VC: Venture Capital I B2C Startups I Commerce | Early-Stage Investing I Brands
Mike Gelb
Consumer VC takes a look into early-stage consumer investing and venture capital. If you are interested in learning about consumer trends, have a b2c business and interested in learning about the fundraising process at the early stage, you have come to the right place.Mike interviews some of the top venture capitalists in the world that focus on B2C and consumer type companies or have a deep track record investing in these categories such as marketplaces, SaaS, social, CPG and non-tech subscription.Mike also interviews founders that are building some of the most disruptive consumer facing companies in the world. The conversation usually includes the insight the founder discovered, fundraising strategy, and the pitch.This podcast also includes bonus episodes. Each bonus episode dives into a particular subject that might not have to due with the fundraise or venture capital, but still would be helpful to founders. For example, a bonus episode on brand strategy or how to construct a board of directors. All bonus episodes will be clearly labeled.For all episodes, please visit www.theconsumervc.com. For updates, you can follow @mikegelb on Twitter.
Episodes
Mentioned books

Apr 29, 2021 • 42min
Dan Reich (Troops.ai + TULA) - From skincare to SaaS, building B2C and B2B businesses
My guest today is Dan Reich, who is a serial entrepreneur. Some of the companies he founded are Spinback, TULA and Troops.ai. TULA started as a digitally native health and beauty brand where Dan served as CEO from inception to over $1mm in sales in less than one year. Troops is a B2B technology company that is building a mobile-first, intelligent CRM. Since Dan has extensive backgrounds in both B2B and B2C, in this episode we focus on some of the differences when building a B2C company vs. B2B.Here are some questions I ask Dan -What was your attraction to entrepreneurship?Why did you decide to launch a skincare brand? What was the insight?How did you think about the competitive landscape within skincare?When did you realize after launching this could be something real?What was your approach to scaling online?What was your initial omnichannel strategy?How were you able to successfully fundraise?What was the hardest part of TULA's business to get investors over the line?Why did you decide to step down as CEO?What compelled you to start a completely different business in Troops.ai?What are some of the differences building an enterprise business vs. consumer business?As an investor, what do you look for in an entrepreneur?Are there specific categories you focus on or find attractive?Walk me through your decision making process.What's one thing you'd change with the fundraising / venture capital process?What's one book that inspired you personally and one book that inspired you professionally?What's the best piece of advice that you've received?What's one piece of advice for founders currently building?

Apr 27, 2021 • 36min
Robin Li (GGV Capital) - What U.S. investors can learn from China's consumer internet, bringing small businesses online and opportunities in the creator economy
My guest today is Robin Li, Principal at GGV Capital. GGV is a global venture capital fund that invests in seed to growth stage companies. Some of their companies include Airbnb, Poshmark, Alibaba, and Peloton. We discuss how GGV makes decisions on a global scale, what opportunities in consumer internet Robin is most focused on, and bringing small businesses online.You can follow Robin on Twitter @robin_p_liSome of the questions I ask Robin -What attracted you to venture capital and how did you wind up at GGV?When it comes to evaluating early stage consumer companies, what are some of the elements you look for that are positive signs that there is traction and how do you evaluate companies when you have to make decisions very quickly?Are there metrics that you focus on that might often be overlooked by founders?What are some major turn offs or deal breakers from startups when they pitch their business to you?In the due diligence process, how do you assess if the product is solving a real problem?What are current trends that you are focused on?What have been changes in consumer behavior during COVID that you are most surprised by?What are some of the challenges when it comes to evaluating consumer startups?How has consumer technology and ecommerce evolved differently in China vs. the United States?I know that GGV invests in both the U.S. and China. In ecommerce, retail and social media China is far ahead of the United States with technology. What do you see as consumer technology that exists in China and that will crossover to the U.S.? What consumer technology won’t cross over?What are some of the key differences between the Chinese consumer and the American consumer relating to internet behavior?Communities - Chief - have over three thousand women, connecting Fishbone around professional communitiesRound sizes have increased dramatically over the past few years with huge funds into venture capital. Now we have pre-seed, mico funds. How has this influenced you as an investor?What are some consumer trends that you are excited about?What is one company that you recently invested in or worked with that you are excited about?What is one company that you should have invested in but didn’t?What is one piece of advice that you have for founders of b2c companies that are looking to raise capital?

Apr 22, 2021 • 44min
Callie Christensen and Kelly Oriard (Slumberkins) - Creating stories to help teach children emotional learning, scaling organically and fundraising when you don't have a lead investor
Thank you Rick Desai for introducing me to today's guests Callie Christensen and Kelly Oriard, founders of Slumberkins. Slumberkins is a leading children’s educational brand on a mission to promote early emotional learning through a combination of creatures and story telling. We're going to learn what they believe was missing in a child's development, how they scaled organically, and maybe the most creative way I've heard to successfully fundraise as well as lots of other amazing parts to their journey. Without further ado, here's Callie and Kelly.Some of the questions I ask Callie and Kelly:How did you both know each other and meet?What did each of you think you wanted to do with your lives professionally?How did you blend these two loves physcology and teachingWhat was the insight that led you to founding Slumberkins?What were the early signals that this could be something?What was your initial approach to distribution?Authencitiy in the brandHow did you approach raising capital and why did you feel the need the raise capital?Early on, you had a tough time finding a lead investor what was your strategy in order to land a lead?I know it was a few years ago, but what was the biggest learning from Shark Tank and how was your overall experience?What's your approach to finding an investment partner?How do you think about scale and what's your vision for the brand?What's one thing that you would change about the fundraising process?What's one book that inspired you personally and one book that inspired you professionally?What's the best piece of advice that you've received?What's the best piece of advice that you have for founders?

Apr 20, 2021 • 38min
Andrew Dudum (hims & hers) - The Future of Telehealth
Andrew Dudum, founder of hims & hers, discusses building a transformative healthcare startup, the impact of COVID-19 on telehealth, and the decision to go public via SPAC. They also emphasize the importance of authenticity, building a community, and transparency in venture capital fundraising.

Apr 15, 2021 • 50min
Eric Doty (Loupe) - Building the world's largest community of sports card collectors
Thank you Arie Abecassis for the introduction to our guest today Eric Doty, founder of Loupe. Loupe is a free app built for the modern sports card collector. We talk about box breaks, how he thinks about the sports card collecting market, solving the classic chicken or the egg, supply/demand trap early on and his approach to leadership.A couple of books that inspired Eric:Educated: A Memoir by Tara WestoverFactfulness by Hans RoslingHere are some of the questions I ask Eric:What was your attraction to entrepreneurship and collecting cards?If they can do it, I can do it.What was the insight that led you to founding Loupe?Take us to that moment of what led you to focus on Loupe full time?Describe to us what box breaks are for those who aren't familiar?How do you think about trust and accountability? Validating cards in the break are legitimate?How are communities created on Loupe?How did you approach growth early on?What was your approach to fundraising?What were some of the biggest hurdles or question marks potential investors had?What was it like fundraising during COVID?InfluencerWhat's one thing you would change when it came to venture capital?Do you have room limits?What's the best piece of advice you've received?How has that impacted you a leader or as a CEO?How do you think about communication amongst your team?Is it hard to build cultureWhat's one piece of advice for founders?

Apr 13, 2021 • 39min
Monique Woodard (Cake Ventures) - The three layers of cake investment thesis, the future of work, and demographic changes that lead into opportunity
Thank you Samara Hernandez for the intro to our guest today, Monique Woodard.Monique is the founding Partner of Cake Ventures. Cake invests in companies that address the needs of a world undergoing massive demographic changes. We break down the three layers of Cake or themes that Monique focuses on, how she thinks about geography and future of work and her learnings as an operator and from 500 Startups.I highly recommend following Monique on Twitter @MoniqueWoodard.A book that inspired Monique:The Tycoons by Charles R. MorrisQuestions I asked Monique:What was your attraction to technology and entrepreneurship?What led you to San Francisco?Why did you decide to become an investor?What were some of your learnings from your experience at 500 Startups?What led to founding Cake Ventures?What particular themes are you focused on investing in?What's your decision making process or diligence process within each theme.What has been some of the effects of COVID on sourcing and your due diligence process?What's one thing that you would change about venture capital?What's the best piece of advice that you've received?What's one piece of advice for founders who are currently building?

Apr 8, 2021 • 41min
Sara Deshpande (Maven) - Investing in companies building on top of Zoom and opportunities in Telehealth
My guest today is Sara Deshpande, Partner at Maven Ventures. Maven Ventures is a consumer focused micro-fund that focuses on investing in seed stage companies. Some of their investments include Zoom, Wild Type, Angellist and Nuggs. What I most enjoyed about this conversation was looking at what types of businesses were being built on top of Zoom and the opportunities in telehealth. Without further ado, here's Sara.You can catch her on Twitter @sara_desh.Three books that have inspired Sara:The Alchemist by Paulo CoelhoShoe Dog by Phil KnightMaid by Stephanie LandSome of the questions I ask Sara:You came from healthcare consulting at Deloitte. What was your attraction to venture capital, startups and innovation?Tell us a bit about Maven.What do you consider micro-VC?Walk us through your due diligence process?How do you access how big of a pain point a company is solving?What are some of the opportunities that you're seeing telehealth?Another area of focus are technology that serves families. What's an example of a company you're excited in this space or a problem that you are hoping to see solve?Has COVID affected any of the themes you focus on?What are some other trends that you're curious about?What's one thing that you would change when it came to venture capital?What's the best piece of advice that you've received?What's one piece of advice that you have for founders?

Apr 6, 2021 • 27min
Morgan Hirsh (Public Goods) - Finding simplicity while focusing on selling sustainable essentials
My guest today is Morgan Hirsh, CEO and founder of Public Goods. Public Goods is your one stop shop for healthy, sustainable, everyday essentials you can trust. This episode helps to demystify or understand what sustainability means or could mean for consumer products. I also loved learning about his approach to building Public Goods in multiple categories rather than just one category.In this episode we discuss:What led Morgan to leave Canada and come to New York City?Why he decided to start Public Goods?What sustainability meansInvestor reaction when he wanted to build in multi-categoriesHis approach to leadership

Apr 1, 2021 • 41min
Alexandra Fine (Dame Products) - Normalizing Sexual Wellness and Self Care Products
My guest today is Alex Fine, founder of Dame Products. Dame is the home of phenomenally fun toys for adults, that helps people to upgrade their self care with toys for sex. They were also named one of the most innovative wellness companies in 2020 by Fast Company. We touch on alot of areas in both sexual wellness and femtech that have been traditionally heavily stigmatized and her journey guiding Dame to amazing heights.Some of the questions I ask AlexLet's start at the beginning. What attracted you to entrepreneurship and sex therapy?What was the insight that led to Dame?How did you start creating vibrators?What was the process of testing, finding women to test the product. Was there any hesitancy to sample since they were putting the vibrators under their labias?When did you realize this could be a business?How did you approach marketing and brand?How did you think about the competitive landscape in the vibrator category?How do you think about product extensions and launching new products?What are some of the hurdles or challenges you've had to face?What was your fundraising strategy?What's the most surprising thing you've done and thought you'd never do as a founder?What's one thing you'd change regarding the fundraising process?What's one book the inspired you personally and one book that inspired you professionally?What's the best piece of advice that you've received?What's one piece of advice for founders?

Mar 29, 2021 • 33min
Aditi Dash and Joe Hovde (CircleUp) - Balancing data with founder-market fit when investing in consumer brands
My guests today are Aditi Dash and Joe Hovde from CircleUp. CircleUp Growth Partners is an early-stage consumer fund that takes a data-driven approach investing in compelling companies. Aditi is one of the investment partners and Joe is one of the data analysts. This is a fascinating conversation about building a data base for the private markets and using that data base as a tool to help make investment decisions and discover trends in CPG.Some of the questions I ask Aditi and Joe:Let's start at the beginning. What was each of your attraction to working with consumer brands and the private markets?For those that aren't familiar walk us through a little bit of the history of Circle Up.One of the difficulties in the private markets is that company information is private. I understand that you are building a platform to help make investment decisions based on data, but what's that process of convincing a company to share its metrics and data with you?How has the platform helped make investment decisions?What are some of the ways that you've been able to leverage data?What is the relationship between data and how you make decisions when it comes to investing?How do you make sure you don't overindex on the data when analyzing a company to invest in?What are the most important metricsHas the platform led to help you discover new trends?What are some of the trends that you are most excited about?Walk us through your due diligence process.What makes a strong founding team?What's one thing that you would change about venture capital?What's the best piece of advice that each of you've received?What's one piece of advice that you have for founders?