How One Company Gatecrashed University Fraternity and Sorority Houses to Get Their Very First Users, Collecting Thousands of Them Almost Immediately

Morning Innovators 👋 This week (in less than 5 minutes!) we’ll explore…

🎓 How one company gate-crashed university fraternity and sorority houses to get their very first users, collecting thousands of them almost immediately
👕 How one start-up caught a wave and is now becoming the GOAT of oats
📱How one start-up got 100,000s of store visitors by breaking TikTok

Each week we’ll be writing about crazy pivots, secret stories of how huge companies almost failed in the beginning, the untold journeys that the most successful founders took to get to where they are today, breakdown mind-blowingly successful acquisitions and investments whilst spotlighting some of the most exciting start ups that you haven’t heard of yet, plus throwing in a few tips and tricks along the way.

👆 The most clicked link in the last week’s newsletter was Gamma, an AI tool for easily building slick decks, presentations, documents and websites.

If you have any feedback or suggestions for next week’s edition let us know.

Happy hustling,
Rich & Gary

How they got their first users This week we’re looking at how Tinder managed to become a global phenomenon from its humble beginnings. You might be swiping right, but do you know how the app itself got its first users?

While many know that Tinder sprouted in dorm rooms, few are aware of its origin story. Before the fiery app we all know, the Tinder team, students at USC, were engrossed in developing a credit card loyalty app, Cardify. Due to Apple's strict app store guidelines, the Cardify launch stalled. But, as they say, when one door closes, another opens. That delay led to the birth of an idea from a hackathon: Matchbox, which soon evolved into Tinder.

Just a week post-launch, Tinder was ablaze with 15,000 users! How did they do it?

Back in 2012, Tinder's major selling point was its FB-only sign-up. While most dating apps had long questionnaires, Tinder’s quick sign-in option allowed users to jump straight into the action. Why spend 20 minutes signing up when you can dive in within 10 seconds?

The creative minds at Tinder, many of whom were affiliated with sororities, had a brilliant idea. They pitched sororities to host parties where the only "ticket" was the Tinder app. Collaborating with the coolest sororities, they ensured a lively crowd at every event.

Next, the team pitched Tinder to brother fraternities, showing them the plethora of profiles of nearby sorority girls. It was an instant hit!

Focusing single-mindedly on their campus strategy, they expanded to various colleges. With the ball rolling, they onboarded representatives from diverse campuses, instructing them on the art of the Tinder pitch, and voila, the growth was unstoppable!

Tinder's take-off moment? It was around January. After being successful on campuses, users went home, shared stories, and suddenly, Tinder's growth went viral.

After mastering campuses, Tinder aimed for the stars, literally! They targeted celebrities, replicating their college growth strategy but on a grander scale. Rather than splurging on ads or mass emails, Tinder banked on word-of-mouth and authentic experiences. Their one deviation, attempting paid advertising in Turkey, wasn't successful, underscoring the importance of organic growth.

Tinder's journey underlines the significance of understanding your audience, crafting a tailored strategy, and the unmatched power of organic growth. As Tinder realised, it’s not about getting just any users; it’s about getting the right users.

🏦 Revolut appoints UK chief in push for elusive banking licence
UKTN
Revolut has hired a new UK banking chief executive as the fintech continues its regulatory battle to secure a full UK banking licence.

🧠 Google Commits $2 Billion in Funding to AI Startup Anthropic
The Wall Street Journal
Google move follows Amazon investment as tech giants place bigger bets on startups racing to develop artificial intelligence

🏠 Airbnb cofounder Joe Gebbia raises $41 million for his startup building small, pre-fabricated houses that spun out of Airbnb in 2022
Fortune
Airbnb cofounder Joe Gebbia describes a house that sounds like a nice spot for an upcoming vacation: it’s cozy, with lots of natural light and a high gable ceiling, bespoke custom furniture, and a smart design aesthetic.

🧑‍💻 A minor ChatGPT update is a warning to founders: Big Tech can blow up your startup at any time
Business Insider
Did OpenAI just kill a bunch of startups by making a small update to ChatGPT? Investors and founders will soon find out.

Each week we’ll be spotlighting some of the most exciting start-ups you haven't heard of yet. This week we decided to look at a range of consumer-goods start-ups..

Waterhaul, founded by marine scientist Harry Dennis in 2018, transforms discarded fishing nets, known as ghost gear, into durable and sustainable eyewear. Driven by the mission to combat the persistent threat of non-degrading plastics in our oceans, Waterhaul's sunglasses are not just stylish but also symbols of marine conservation, designed to last a lifetime and encapsulate a fusion of adventure with a profound purpose of protecting our seas.

Oatsu, inspired by the global popularity of overnight oats, offers convenient, healthy on-the-go breakfasts. Founded by Lauren, who initially sold her creations on Instagram, Oatsu has since delivered over 20,000 plant-based breakfasts in recyclable packaging across the UK. Poised to emulate the success of US overnight oat brands, Oatsu is set to feature in Holland & Barrett's 645 stores. The brand's name originates from the Japanese word for 'oats'.

Founded by Spice Girl Emma Bunton and Christopher Money, Kit & Kin offers natural, skin-friendly products that emphasize eco-consciousness. They champion sustainability with plant-based ingredients, eco-friendly materials, and a foundation that conserves rainforests and supports communities, all while maintaining a strong commitment to cruelty-free practices as proud PETA members.

Who needs a marketing budget when you have a phone, an awesome product and social media? We’ll tell you one company that doesn’t, WrumerSound!

Using nothing but their phone, TikTok and Instagram along with their own product, they were able to get 18.8 million views on the four videos above. Each of these videos are so ridiculously simple, they’ll have you screaming “WHY HAVEN’T I DONE THIS?”. The WrumerSound team were able to amass these views by just showing people how to use their product and all the cool things you can do with it. Their product is a tool which plugs right into the OBD port of your car and enables your standard family car to sound like the car of your dreams.

These videos resulted in 100,000s of store visitors, making a load of sales in the process! when they translated all of their best performing videos to German, it generated an extra 146,502 online store sessions!

Are you one video away from 100,000s of new store visitors? Can you make a simple video showing people how to use your product? We think you can!

As start-up founders ourselves, one of the areas we’re really passionate about is raising awareness of opportunities. If you’re not mixing in the right circles, it can be really easy to miss a pitch event, or job opportunity that could be game-changing for you. We’ve included a few upcoming events and opportunities below, but this is where we really want to leverage our community of innovators. Please reply to this email with any tips and opportunities you think we should be featuring.

💼 Job opportunities

🏠 UI/UX Designer, PropertyLoop
🏦 Software Engineer, Griffin
🧠 Software Engineer, honu.ai

🎤 Events

The British Business Bank are hosting Business Finance Week 2023 between 6-10 November.

Activities during this week are designed to support smaller businesses to understand the different finance options available and provide connections to support them in growing their business. There will be 27 in-person events across the UK and webinars, all free of charge, focused on the following themes:

On 20th November, PWC are hosting a breakfast style morning event for underrepresented founders.
The event will include guest speakers from the fundraising community, round table discussions, and a platform to refine your elevator pitch among investors and fellow founders. Recognising the challenges faced by female and underrepresented founders, PWC’s goal is to enhance fundraising opportunities and help founders foster meaningful connections.

Tramshed Tech are launching two new programmes:

Greentech Catalyst Accelerator is a 12-week programme which aims to accelerate the growth and impact of environmentally focused businesses that have the potential to contribute to a more sustainable future Pan-Wales. The programme will provide the selected businesses with timely training, expert advice, network support, and access to funding to allow them to thrive.

The Convergent Content Programme aims to forge powerful connections between Wales' vibrant tech, media and creative sectors. This programme offers a range of immersive workshops, industry-driven events and mentorship whereby creative, media, and tech organisations across Wales can explore fresh ways of creating and distributing content as well as reaching new audiences. The programme is committed to diversity and inclusion, making the metaverse accessible to more people and promoting collaboration.

Each week we’ll be highlighting our favourite tools - either something we’ve been using in our businesses, or tools that our innovator community have recommended.

This week we came across a great no-code tool for creators. Stan offers an all-in-one digital store, designed to optimise monetization opportunities beyond brand deals and affiliate sales. Acting as a versatile link-in-bio, the Stan Store allows creators to sell digital products, host webinars, offer coaching sessions, and even set up recurring memberships. More than a mere link hub, it offers seamless funnels, an easy-to-use course builder, and features to gather email leads. While creators can harness these functionalities to transform their content into profitable ventures, they also benefit from Stan's supportive ecosystem, including weekly monetisation tips, an exclusive creator community, and access to private masterclasses. If you're a content creator aiming to expand your revenue streams and treat your passion more like a business, Stan is the comprehensive tool to consider.

Next week we’ll be looking at how one start-up cereal brand gate-crashed Kelloggs on their own turf and got thousands of views in the process, how a struggling marketplace start-up pivoted to video recording software to secure a $975m exit, along with highlighting more great tools and start-up news.

P.S. Connect with us on LinkedIn…