Fundraising Growth Journey

A discussion about how Marc Lore's fundraising evolved across his different ventures.

"At diapers.com we raised $55 million. Jet was substantially larger - we raised about $800 million. This is why Alex and I started a venture fund called VCP (Vision Capital People). We believe there's a really big hole in the market for people with big visionary ideas to get a big infusion of capital early, when they have nothing, so they can go out and hire the very best team in the world.

A lot of startups face a chicken and egg problem - how do you get the capital unless you have the team? You can't hire the team until you have the capital, but you don't get enough capital until you prove it. So you get $1 million, then $5 million, then $10 million, and each step of the way you're on a tight wire. One little thing goes wrong and investors lose confidence.

We say no - if you have a big vision, we know this could be a really big idea, we know somebody's gonna do this, it's the right time to do it. Let's not undercapitalize it. Here's $10 million seed - go out and hire the best team in the world. That puts you in a position to have the best shot at a really successful business. If you've got the best people, capital, and vision right, you're a player now. Worst case, somebody's gonna pick it up because you've got great people, it's the right time, and it's a big vision."