Building a Company Step By Step Ch. 10: Get Out of the Building and Sell
by Jon Eckhardt
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EIX is featuring interviews that explore the principles outlined in Steve Blank and Bob Dorf's book, "The Startup Owners Manual: The Step-by-Step Guide for Building a Great Company." This episode focuses on Chapter 10: Get Out of the Building and Sell!
On April 1, 2021, the Madison, Wisconsin-based company Fetch Rewards became a unicorn, with a $210 million investment round lead by SoftBank VisionFund 2. Fetch is an app that uses information from grocery store receipts to help consumers capture more rewards from their grocery purchases, which can consume 20% of their yearly budget. The first versions of the app focused on shoppers in just one Madison-area store, and it spread beyond that one store and from Madison to many other regions. In the early days Fetch's founding team did indeed get out of the building -- they mingled with their first customers to get a better sense of how they shopped and to refine their business model.
EIX Editor in Chief Jon Eckhardt interviewed the company's founder, Wes Schroll, on how he built Fetch Rewards into a billion-dollar company.
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DOI: 10.32617/738-61dc44c436393Comments
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http://epicenter.stanford.edu/Epicenter offers opportunities to help faculty, students and academic leaders support entrepreneurship and innovation learning in undergraduate engineering education. Epicenter was funded by the National Science Foundation from 2011 to 2016 and directed by Stanford University and VentureWell. Epicenter's mission was to empower U.S. undergraduate engineering students to bring their ideas to life for the benefit of our economy and society.
