He raised $20M, hit $3.5M in revenue—& failed. Here are the top 3 lessons he learned. | Ned Phillips, Founder of Bambu
Ned had a chance to run Robinhood Asia but he turned it down. Instead, he launched a competitive product. He decided to go B2B and sell to banks and other financial institutions. He locked down a $400K revenue sale before writing a line of code. It seemed easy at first. Overtime, he grew to $3.5M in revenue, billions in assets under management and hundreds of thousands of users. He raised $20M in venture capital. But then the problems started. Enterprises that paid for large contracts didn'...