222. Crisis Coverage w/ Leah Solivan – Building TaskRabbit in a Recession; COVID Effects on the Independent/Gig Economy; and Key Factors for Early-Stage Marketplace Success
This post is by Nick Moran from The Full Ratchet: VC | Venture Capital | Angel Investors | Startup Investing | Fundraising | Crowdfunding | Pitch | Private Equity | Business Loans
Leah Solivan of Fuel Capital joins Nick on a special Crisis Coverage installment to discuss Building TaskRabbit in a Recession; COVID Effects on the Independent/Gig Economy; and Key Factors for Early-Stage Marketplace Success. In this episode, we cover:
- Background -- path to venture?
- How is the current climate affecting your investing?
- Differing viewpoints on how much runway to plan for w/ a new capital raise... are you suggesting founders raise for more than 18-months or does the standard runway guidance hold?
- This crisis has had a pretty profound impact on the sharing economy/the gig economy/the independent economy. As someone with experience working in this space, what are your observations?
- Key lessons learned from building TaskRabbit in 2008/2009 during a recession?
- What will be the big opportunities post-covid, given the changes to consumer behavior?
- What are the main 3-5 things your looking for in a consumer marketplace business at the seed stage?
- Are there GMV levels that you're looking for?
- How about take rate?
- Best advice on investing in marketplace businesses that you've come across and incorporated into your approach?
- I've seen a number of consumer marketplace business that start w/ an auction-style format where vendors bid for consumer business, like thumbtack... then they flip to more of an affiliate/referral model where the consumer enters the specs for their job, those leads are sent to vendors and the vendors reach out individually w/ proposals. Why have we seen this shift?
- Does the transaction interface/format between vendors and customers influence your interest (Read more...)