Startup studio's recipe to create SaaS unicorns
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Venture firms have their investment thesis, we have our building thesis. At eFounders we are not investing in companies, we are building them. As a startup studio, we’ve chosen to develop our own thesis — a series of rules that are truly part of our company creation process. Here is our “building thesis”, the one we think helps us create unicorns.
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Startup studio's recipe to create SaaS unicorns
- 1. The startup studio’s recipe to create unicorns eFounders startup-building thesis
- 2. Venture firms have their investment thesis, we have our building thesis. At eFounders we are not investing in companies, we are building them. As a startup studio, we’ve chosen to develop our own thesis — a series of rules that are truly part of our company creation process. Here is our “building thesis”, the one we think helps us create unicorns.
- 3. What we like
- 4. Targeting millions of businesses…
- 5. We like the network effect of consumer businesses, and we like the general behavior of business customers. It naturally comes with a business model, it’s more predictable and less risky. Mention has more than 300 000 users, a big part of them are SMEs, big companies, agencies and a lot of institutions.
- 6. …Offering a service rather than purely a software…
- 7. We like to create services that are powered by amazing software more than building software as such. TextMaster is a translation service that relies on a very powerful software, as are Mention — a media monitoring service powered by a very strong web crawler — and Mailjet - an email delivery service with a reliable deliverability technology.
- 8. …At a small and recurring cost.
- 9. We are not selling big software to large accounts. Instead, our products are offering recurring services that can help increase revenues, reduce cost or improve productivity for a few tens or hundreds dollars a month. Aircall is based on a subscription model. For $24 a month you can get one or more business phone lines that can be shared across your teammates to manage support call and increase productivity.
- 10. We are eager to
- 12. Our ambition is to disrupt entire sectors. There are still lots of opportunities in the enterprise world. Disrupting industries is a great way to create large- scale businesses. TravelX (project still under cover) is going to be our way to reinvent the corporate travel agency. This sector is fossilised and thus offers a huge opportunity for disruption. TravelX project will definitely change the way agencies are currently working.
- 13. …by cutting out the middlemen…
- 14. We like marketplaces because disintermediation empowers the multitude, changes the established order, creates market transparency and often improves service quality while reducing cost. illustrio disintermediates design agencies by providing a customisable illustrations generator. Therefore, it provides a better and cheaper services to startups, SMEs, medias or other kinds of agencies and lets them build their own illustrations and visuals in a few clicks.
- 15. …or by using new technologies…
- 16. We like leveraging new technologies and getting inspired by the new perspective they offer. Solved uses a brand new technology that enables communication from browser to browser (Web RTC) which makes it possible to put collaborators in touch with software experts live very easily.
- 17. …in order to create scalable…
- 18. We’re using our infrastructure to make at least 30% of our client acquisition completely automatic — and we are very also happy to contact or call the other 70%! Mention’s 300,000 users have been acquired without spending a dollar in paid marketing.
- 20. We like to avoid local constraints (HR, Accounting etc) to focus on issues common to any companies worldwide, and not limited to startups. Front provides a tool to manage customers’ incoming queries as a team. Front can be used by any type of companies worldwide, it is just sufficient that the companies have customers. Every company that has customers needs Front.
- 21. TO SUM UP
- 22. eFounders’ building thesis We like targeting millions of businesses, offering a service rather than a software, at a minimum and recurring cost. We are eager to disrupt outdated industries by cutting out the middlemen or using new technologies in order to create scalable and global business models.