So, you’ve decided that 2013 is the year to launch your startup.
Do you have your startup pitch ready? We’ve shown you the power of the Gaddie Pitch.
Now, here’s an example of a successful startup pitch from Sam Altman, the CEO of Loopt.
In 2007, Loopt developed a mobile app that allowed you to find, and communicate with, friends in your immediate vicinity. It sounds like a hundred other apps now in the market but in 2008 it was ‘awesome’ (i.e. likely to inspire awe).
In this pitch, Altman provides a very succinct pitch, is friendly and genuinely enthusiastic about his product. He also tempts fate and wins, when he performs a live demonstration of the app.
What can you learn from this pitch?
- It’s short.
- It’s concise.
- It explains the pain point.
- It shows a working solution to solve that pain.
- It’s not too formal and, it’s not overly informal.
- And, it focuses on the customer, not the technology.
Was it a successful pitch?
Loopt raised $32 million from investors including Y Combinator, New Enterprise Associates and Sequoia Capital. In early 2012, Loopt was acquired by Green Dot Corporation for $43 million.
Share your pitch
So, if you’re launching a new startup in 2013, polish up your Gaddie Pitch. Then, get pitching!
If you have a video of your business pitch, we want to see it!
Loopt pitch, Apple Worldwide Developers Conference 2008
To help you to better understand your role as an owner director, and some of the important governance considerations for private companies, the Australian Institute of Company Directors has developed five valuable resources to help you increase your knowledge. Download your free resources now.