Ep168 – Will On (Co-founder & Co-CEO – Shippit) on fundraising, secondaries and the Co-CEO model

The Startup Playbook PodcastInsights and lessons from the world's best entrepreneurs and investors Twitter Facebook YouTube Instagram Ep168 – Will On (Co-founder & Co-CEO – Shippit) on fundraising, secondaries and the Co-CEO model July 28, 2022 rohitbhargava Podcast My guest for Ep168 of The Startup Playbook Podcast was the Co-founder & Co-CEO of Shippit, Will On. Will and his co-founder Rob started Shippit in 2014. They raised $500K as their first funding round bringing in a number of strategic investors on board when it was just the two of them in the business. Fast forward 8 years later and Shippit now has a 200+ strong team and recently raised a $62m Series B2 funding round led by Tiger Global and Tidal Ventures. In this interview we covered a range of topics including: navigating the challenges of early stage startupslessons from Shippit’s Co-CEO modelsecondarieshow fundraising changes from Seed to Series B & much more Timestamps  03:16 – William’s backstory05:20 – Feeling like a “misfit” during university08:31 – The early days of building Shippit12:36 – Advice for founders when evaluating potential external business partners15:07 – How the co-CEO relationship has worked for William and Rob Hango-Zada20:19 – Early challenges Shippit faced in gaining momentum24:45 – How the approach to raising capital has changed during the last 7 years of Shippit27:03 – Advice for founders currently raising capital32:35 – Secondaries and how it’s played out for Shippit35:22 – Leveraging secondaries to attract more talent36:55 – How Shippit found a specific focus within the broader industry they work within39:56 – Balancing a specific focus with looking out for new opportunities43:59 – Advice on how to surround yourself with the right people Our partners A big thank you to Daniel Gulati and Justin Lipman for their help with this interview. Also a big thank you to our partners for this episode. Lawpath Lawpath’s Legal Advice Plan gives you access to lawyers on demand for one low monthly fee. Create legal documents, sign online and have a lawyer on-call to help you through any legal need for a fraction of the cost.  Lawpath has helped Australian businesses save over $100 million in legal fees, and are offering Startup Playbook listeners up to 20% off their most popular legal plans. Visit lawpath.com/playbook for your exclusive discount and discover an easier way to get your legals sorted. Scendar  We’re Scendar, an accounting and advisory practice better described as Finance as a Service (FaaS). We’re focused on founders, funders and startups. Clients that are ever-changing and adapting. We like fast movers. And as you might have guessed, we’re not your basic accountancy. We can take care of tax and the books whilst building a syndicate fund and a multimillion dollar exit strategy.  At Scendar, we’re empowered by our client’s potential. Find out more at Scendar.com Dovetail Studios  Dovetail Studios operates a venture studio and VC to transform ambitious ideas into unstoppable businesses. On top of being a renowned product development partner for startups like Afterpay, they also operate a VC fund to invest in early-stage companies that go through their venture studio program. So if you’re a non-technical, early-stage founder looking for a talented team to help supercharge your success, check out dovetailstudios.com Links Mentioned  Will’s Links TwitterLinkedIn People mentioned Rob Hango-ZadaDaniel Gulati Steve BaxterMichael CindricLachlan DonaldJustin LipmanLes SzekelyMarcus LimHoward LeibmanIan BeattyLeigh JasperJames Chin Moody Companies mentioned ShippitDeloittePwCUnilever Shark TankSentiaBuildkiteOneflareSecond QuarterSendle Feedback/connect/say hello: [email protected]@RohitBhargava7 (Twitter)/rohbhargava (LinkedIn)@rohit_bhargava (Instagram)My Youtube Channel Credits: Music: Paycheck Other channels: Don’t have iTunes? The podcast is also available on Spotify, Soundcloud & Stitcher Audio Player. Find all links to the podcast here. https://traffic.libsyn.com/secure/startupplaybook/Ep168_-_William_On_Co-founder__Co-CEO_-_Shippit_on_fundraising_secondaries_and_the_Co-CEO_model.mp3Podcast: Play in new window | Download | EmbedSubscribe: RSS admin January 1, 2014 Reply Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat admin January 1, 2014 Reply Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat admin January 1, 2014 Reply Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. 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