mazumdar
Joined 14 years ago
Joined 14 years ago
Over the next 2.5 years, I reapplied to YC five more times. I interviewed twice in the second round. I eventually got rejected every time. From the ideation stage, to $1M in revenue, YC has an application of mine for every milestone in between (until I did not need to raise money anymore).
My company, Y Athletics (https://yathletics.com), is a profitable business with no investor funding and 7 figure revenues. We've delivered products to over 25,000 paying customers all around the world. We don't solve problems, but we create some amazing products that people want.
This post about Webflow made me nostalgic as it was during that time that I started to read HN religiously (and now I discovered that Vlad and I applied and were rejected in the same batch as well). My first landing page was made on Webflow. I learned how to code using Codeacademy. My first 100 users came from a comment I posted on an Ask HN thread (https://news.ycombinator.com/item?id=6617551). Seeing others building their startups inspired me to continue building mine. My company would probably not exist if it wasn't for HN. Thanks for everything!
https://medium.com/@arbabmazumdar/3-things-i-learnt-while-bo...
https://medium.com/the-crowdfunding-bible/how-i-raised-250-0...
I don't see my business as solving any real problems. But I believe you don't need to solve real problems to have a business. I can very well frame my business as one that solves a problem, but that would be marketing speak rather than reality. There are billion dollar companies that don't solve problems and that's esp. true in the apparel industry.
I'm not going to delve any further into my thinking of the 'problem solving' approach because there is a more important point that was possibly misunderstood in my original comment. A lot of the responses to my comment are based around the merits of the idea itself, but YC has been pretty clear that they fund people over ideas. The way I look at it, the idea is just a medium for them to get to know the founder(s). There is no such thing as a 'billion dollar idea'. Most billion dollar businesses did not become that way over a short period of time [1], esp. not in the apparel industry. Every company started with something small and what you do in your initial years is just the stepping stone of creating opportunities to become something bigger.
But back to the point - I believe YC uses your idea to understand the founder, and my point was that one of the traits they look for is the founders ability to clearly articulate what their business will look like in ten years. The emphasis here is on the founder's characteristics rather than the merit of the idea itself. So, while I agree with your thought process on what a VC looks for, I disagree that YC looks for the same thing. That's why they are an incubator rather than a VC firm.
On a less related note: I don't apply to YC for the sake of raising funding. My company generates enough revenues, and we have enough positive cash flow and great credit terms with vendors. The value addition I seek from YC is more to do with better figuring out the business rather than access to capital. The reason YC is the only investor I talk to is a very personal one: My company would not exist without HN. I don't have a background in engineering, but since I started reading HN 5 years ago, I really resonated with the community (although I never participated). Back in those days, there used to be more front page articles about startups and the community seemed more tight-knit. I started learning how to code through codeacademy and that was the inflection point that gave me the confidence that I can actually build things, which eventually resulted in me building YA. I worked with many YC companies and still do business with some of them. So, the real reason I apply to YC is because I've gotten a ton of value from it's community and naturally want to have a closer association to them and the partners that run the organization. The sad part is that as they grow bigger (which is better for the world), the appeal of being in the insider community gets smaller. I just hope I get to participate in a cycle before that feeling goes away all together.
[1] Companies like Uber & Airbnb are exceptions
The reason for rejection was same at both times - I didn't have a clear strategy of how to grow my company into a big business. (For those that don't know, YC gives you a pretty clear explanation of why they rejected you and what they want you to do better.)
We make products that our users absolutely love and have seen phenomenal growth, and YC understands that. But it seems like it's very important to them that you are able to clearly articulate what your business will look like in ten years when it's a billion dollar company.
I have no doubt that I will make my company into a billion dollar business. But I simply don't know how I will take over the world yet. I strategize what needs to be done over the next 1 year and focus only on that. Sure, it might not be a trait for successful founders, but I firmly believe that staying focused on building great products is key to my business. The vision for how I will turn this into a billion dollar company will gradually come with time.
The solution for me is good noise canceling headphones. If you fly often, invest in a good pair and it will do wonders for you. It has for me.
I especially love their mobile responsiveness and have modeled our own after them:
2) Men and women shop differently and I feel as if women want more choices so the model does not necessarily work for them. That said, I've received a lot of interest from women for the first product we launched so plans may change in the future.
I think apparel brands offer too many choices so I'm creating a brand that keeps it simple but at the same time invests in making very high quality products. For ex: the first product we launched is our athletic shirt - SilverAir. It's made using silver which kills the odor-causing bacteria in your sweat, so you can wear the shirt for the entire day and feel fresh, or reuse the shirt more often (i do).
The fabric is completely new and something we made from scratch. Without letting cost be a factor, we sourced some of the best yarns you can buy and achieved a feel that is super comfortable while being lightweight and breathable. To manufacture, we use seamless knitting machines so the body of the shirt does not have any stitches on it. (trust me, the silver is what sells but the most loved feature by our customers is the material and how you feel as if you're not wearing anything - in a good way)
1. We weren't featured by KS but it was on the "popular projects" page throughout the life of the campaign. It initially got there by a combination of backers finding it through "Recently launched projects" + backers who signed up on our website to be notified of the launch (the former being the majority). By the end of Day 1, it was #1 in its category and stayed there for a while. Here is a link that shows the trend of the project funding if you're interested: http://www.kicktraq.com/projects/yathletics/silverair-odorle...
2. Remaining 20% found it through our own marketing efforts + other websites/blogs writing about the project
3. Sure thing - https://www.kickstarter.com/projects/yathletics/silverair-od...
Reach me: sam @ company website