20VC: Why Every Founder Should Bootstrap Their Startup, How To Solve Information Asymmetry Between Founders and VCs & Living In A Cupboard For Two Years To Fund StyleSeat with Melody McCloskey, Founder & CEO @ StyleSeat
Melody McCloskey is the Founder & CEO @ StyleSeat, the largest and fastest growing marketplace in the $78b beauty and wellness industry. They have raised over $40m in challenging funding conditions from some of the true greats of the business including Alfred Lin @ Sequoia, Chris Sacca, Jeff Clavier, Aileen Lee, Lightspeed, the list goes on. As for Melody, as well as running StyleSeat she is also a mentor for the Thiel Fellowship working with some of the brightest and best next generation entrepreneurs.
In Today’s Episode You Will Learn:
1.) What was the origin story of StyleSeat for Melody and how did Travis Kalanick and Garrett Camp come to be angel investors?
2.) Melody has previously stated that ‘CEOs do not have all the answers’. What did Melody find most challenging that she struggled to answer? How has her approach to decision making and delegation changed over the last few years?
3.) Melody has been CEO for 6 years, a rarity in tech today, so what has been the core to her success long term as the leader of StyleSeat?
4.) With $40m in funding over 3 rounds, how did Melody find the fundraising experience? How did she feel the rounds differed? What does Melody believe she did well and what would she improve for further rounds?
5.) How does Melody approach transparency internally with fundraising? Should founders tell the team about fundraise opportunities? When is the right and wrong time to do so?
Items Mentioned In Today’s Show:
Melody’s Fave Book: Hard Thing About Hard Things
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