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How to Launch a Marketplace | Derrick Fung, Founder of Drop episode artwork

EPISODE · Jul 15, 2022 · 24 MIN

How to Launch a Marketplace | Derrick Fung, Founder of Drop

from A Product Market Fit Show | Startup Podcast for Founders · host Pablo Srugo

How do you launch a marketplace? How do you get beyond the chicken-and-egg problem? Derrick's answer: Fake it Till you Make it.When launching Drop (a rewards app with millions of downloads), Derrick needed both consumers and brands to join. Instead of going after both at once, he found a way to seed supply and added brands' logos to his website, whether they had joined or not. It may have led to some Cease and Desist letters (or Conversation and Discussion letters, as he called them), but it also led to considerable growth.If you're about to launch a marketplace or are struggling to get it off the ground, listen to this episode and see how Derrick did it.  Send me a message to let me know what you think!

Episode metadata supplied by the publisher feed · Published Jul 15, 2022

What this episode covers

How do you launch a marketplace? How do you get beyond the chicken-and-egg problem? Derrick's answer: Fake it Till you Make it. When launching Drop (a rewards app with millions of downloads), Derrick needed both consumers and brands to join. Instead of going after both at once, he found a way to seed supply and added brands' logos to his website, whether they had joined or not. It may have led to some Cease and Desist letters (or Conversation and Discussion letters, as he called them), but i...

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How to Launch a Marketplace | Derrick Fung, Founder of Drop

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Frequently Asked Questions

How long is this episode of A Product Market Fit Show | Startup Podcast for Founders?

This episode is 24 minutes long.

When was this A Product Market Fit Show | Startup Podcast for Founders episode published?

This episode was published on July 15, 2022.

What is this episode about?

How do you launch a marketplace? How do you get beyond the chicken-and-egg problem? Derrick's answer: Fake it Till you Make it.When launching Drop (a rewards app with millions of downloads), Derrick needed both consumers and brands to join. Instead...

Is there a transcript available for this episode?

Yes, a full transcript is available for this episode. You can read the complete transcript on the episode page.

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