Ninja Van just raised US$578m.
I wrote them their first cheque. US$50k.
This is what I learnt sitting on the board of a 3 person startup that grew to 61,000 employees in 6 countries.
🪡
I wrote them their first cheque. US$50k.
This is what I learnt sitting on the board of a 3 person startup that grew to 61,000 employees in 6 countries.
🪡
1/ Know when to move on
The Ninja Van founders were running a startup making custom shirts. Marcella was not doing well.
While running Marcella they realised existing logistics providers are not set up for e-commerce.
So they left Marcella to start Ninja Van.
The Ninja Van founders were running a startup making custom shirts. Marcella was not doing well.
While running Marcella they realised existing logistics providers are not set up for e-commerce.
So they left Marcella to start Ninja Van.
2/ A founding team that stays together despite a failed startup has a much better shot at success with their next startup
Marcella had 5 founders. 2 of the 5 left early to start Ninja Van. After Marcella shut down, the remaining 3 joined. All 5 are still at Ninja Van today.
Marcella had 5 founders. 2 of the 5 left early to start Ninja Van. After Marcella shut down, the remaining 3 joined. All 5 are still at Ninja Van today.
3/ Hire the smartest people you know
The CEO of Ninja Van is charismatic. He put that charisma to work hiring the smartest people he knew.
He convinced many talented friends to leave well-paying jobs to join his early stage logistics startup.
The CEO of Ninja Van is charismatic. He put that charisma to work hiring the smartest people he knew.
He convinced many talented friends to leave well-paying jobs to join his early stage logistics startup.
4/ Don’t be shy asking investors for help
When Ninja Van first started I’d stay in the office with them well past midnight sorting parcels.
The first two Xmases (peak season!) I got into a van and delivered parcels.
When Ninja Van first started I’d stay in the office with them well past midnight sorting parcels.
The first two Xmases (peak season!) I got into a van and delivered parcels.
5/ Founders get their hands dirty
The founders slept in a room above the warehouse for more than a year.
When the drivers were overwhelmed during peak season, everyone on the founding team (CEO, CTO, COO etc) got into a van to deliver parcels.
The founders slept in a room above the warehouse for more than a year.
When the drivers were overwhelmed during peak season, everyone on the founding team (CEO, CTO, COO etc) got into a van to deliver parcels.
6/ Successful startups come close to running out of money multiple times
Fundraising was never easy. Ninja Van survived multiple near death experiences.
To stare into the abyss and find a way back requires guts, skills, grit and resourcefulness.
Fundraising was never easy. Ninja Van survived multiple near death experiences.
To stare into the abyss and find a way back requires guts, skills, grit and resourcefulness.
7/ The best founders are endlessly resourceful
Hiring, fundraising, negotiating with landlords/leasing companies/regulators etc - all require founders to be creative and resourceful.
I read somewhere the #1 quality to look for in a co-founder is resourcefulness. Good advice.
Hiring, fundraising, negotiating with landlords/leasing companies/regulators etc - all require founders to be creative and resourceful.
I read somewhere the #1 quality to look for in a co-founder is resourcefulness. Good advice.
8/ Enjoy the journey
The work was hard, but the founders found the fun in it.
They genuinely enjoy the startup grind and find ways to have fun at work. Playing keepie uppie at midnight. Building a pizza oven.
In recent years, work + play trips in Europe.
The work was hard, but the founders found the fun in it.
They genuinely enjoy the startup grind and find ways to have fun at work. Playing keepie uppie at midnight. Building a pizza oven.
In recent years, work + play trips in Europe.
9/ Doing well in school only goes so far
The founders went to some of the best schools in Singapore. They gave up comfortable white collar jobs to sleep in factories (Marcella) and warehouses (Ninja Van).
They took the road less travelled and built a unicorn.
Be bold.
The founders went to some of the best schools in Singapore. They gave up comfortable white collar jobs to sleep in factories (Marcella) and warehouses (Ninja Van).
They took the road less travelled and built a unicorn.
Be bold.
I tweet about reimagining learning, and occasionally about startup life having sat on both sides of the table as investor and founder.
Follow me to read about education, entrepreneurship and early stage investing.
Follow me to read about education, entrepreneurship and early stage investing.
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