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    Jiake Liu (Outer) - How Outer Became The Fastest Growing DNVB In The US, His Approach to Showrooms, and Why You Can't Rely On "Build It and They Will Come"

    Jiake Liu (Outer) - How Outer Became The Fastest Growing DNVB In The US, His Approach to Showrooms, and Why You Can't Rely On "Build It and They Will…

    FromThe Consumer VC: Venture Capital I B2C Startups I Commerce | Early-Stage Investing I Brands

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    Jiake Liu (Outer) - How Outer Became The Fastest Growing DNVB In The US, His Approach to Showrooms, and Why You Can't Rely On "Build It and They Will…

    FromThe Consumer VC: Venture Capital I B2C Startups I Commerce | Early-Stage Investing I Brands

    ratings:
    Length:
    53 minutes
    Released:
    Aug 20, 2020
    Format:
    Podcast episode

    Description

    I'd like to thank Adelle Archer for introducing me to today's guest, Jiake Lu, CEO of Outer. Outer is an extraordinary company that is reengineering outdoor furniture. Business Insider named them the #1 fastest growing DTC brands. I chat with Jiake about how he went from founding a B2B business to B2C, his really unique showroom strategy.And there you have it, lots of fun chatting with Jiake about outdoor furniture. Feel free to follow him on Twitter @jiakeliu. You can also follow your host, Mike, on Twitter @mikegelb. You can also follow for episode announcements @consumervc.One book that inspired Jiake is Sapiens by Yuval Noah Harari.Here's what we cover -His attraction to entrepreneurship and software. Learnings from starting ProspectWise and why he started Outer. How did he realize the insight that folks weren't using their outdoor furniture? What was his product innovation? How did he turn this into a brand rather than being a wholesaler?His unique distribution strategy and how he thought about show rooms? His launch strategy when they premiered May 2019? The competitive landscape in outdoor furniture?His initial growth strategy? Why did he you need to fundraise? The hardest part about fundraising or element of his business that it was hardest for investors to understand? Some of the effects of COVID on his business?What's one thing that he would change when it came to fundraising? One piece of advice for DNVB companies?This episode is brought to you by Crunchfirm : a full-stack finance, accounting & CFO advisory partner focused exclusively on VC backed startups. Listeners get the first month free of their services, by emailing hello@crunchfirm.com.
    Released:
    Aug 20, 2020
    Format:
    Podcast episode

    Titles in the series (100)

    The 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.