“Industry will agree differently”
Dan Lewis, co-founder տնօրեն Executive Director of Digital Freight Company Motorcade, did not start his own company because he had a deep and constant passion for freight. At least not in the beginning.
The application has a history of strategy և management consulting, which has turned into a product development career for such high-tech companies as Google և Amazon. But when he was struck by the desire to start a company, he explored the world’s lucrative industries, and then, using AngelList, saw how many companies were trying to disrupt those industries.
His search led to thousands of companies working in the industry, from telecommunications to fashion to video games to food. Billions of dollars are spent every year on freight, but less than 30 startups have shown interest in the field.
“I saw a huge opportunity, ‘few people went with it,'” Lewis told TechCrunch.
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Lewis և Grant Goodale Founded in 2015 by Convoyև have since brought in a number of top investors. A few years after the founding of Convo, with a turning point in events, The company has secured its Series B from YC Combinator’s Continuity Fundfund, which was usually aimed at earlier stage companies.
Recently, Convoy provided the $ 260 million E SeriesBailey Gifford և T. Led by Row Price, who raised the company to $ 3.8 billion. To date, the company has raised nearly $ 1 billion to expand its platform, which connects a fragmented network of shippers, carriers and brokers in the United States.
Speed is a great feature of building a startup, և it մեծ is also a great feature of not slowing down, because you can show tremendous progress and then give a higher rating based on it. Dan Lewis, co-founder and CEO of Convoy
We sat down with Lewis to talk about the importance of being customer-centric when starting a company, why early-day compensation packages can help you avoid over-weakening your company in future fundraisers, and how to set boundaries on compromises. Will be established as a founder.
The following interview, edited for brevity and simplicity, is part of an ongoing series focusing on transport founders.
TC. YC’s contribution to your B Series was noticeable as Convoy was out of the Continuity Fund’s portfolio at the time. What do you think made Convoy stand out?
Lewis. YE culture is a really intriguing culture, so they did not feel they had to stay in a certain area, especially with the Continuity Fund targeting early growth companies. When we met, I think the breakthrough was just a unique story. People usually do not realize how fragmented and large the offshore shipping industry is. So YE saw this as a major setback.
We were thrilled to work with them as they are an incubator և accelerator, so their entire system is designed to help the founders succeed. They had so many unique projects that helped us grow and prosper that I had never seen before with other investors.
You mentioned that a good way to determine the direction of a startup was to compare areas where there is a lot of money against companies that are trying to disrupt those areas. Is it still a good method?
I think it is a really good method. It would be interesting to draw a list of industries, find out how much money is spent in those areas, and then see how many companies go into those areas. AngelList is a great resource to find the newest, most innovative companies pursuing these areas.
Before starting the company, I wrote this article on Quora, which went viral published by Forbes. This was the answer to the question: how to come up with a startup idea? I wrote this really comprehensive theory, mostly a book. So when I was about to start my own company, I had to eat my dog food. I came back և used my own process և now I can say it is trustworthy because it works.