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Olga Vidisheva

02/24/15

@ Y Combinator

I'm excited to share the story of Shoptiques and my journey as its founder.

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Olga Vidisheva

02/24/15

@ Y Combinator

Shoptiques allows you to shop the world's most unique boutiques online, making it easier to discover amazing products without needing to travel.

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Olga Vidisheva

02/24/15

@ Y Combinator

I moved to the United States at 17, speaking no English, and graduated from Wellesley College and Harvard Business School.

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Olga Vidisheva

02/24/15

@ Y Combinator

After working at Goldman Sachs as an investment banker, I realized I loved shopping at unique local stores during my travels, but found it frustrating that many weren't online.

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Olga Vidisheva

02/24/15

@ Y Combinator

While at Harvard Business School, I investigated why unique boutiques weren't online, discovering that many great merchandisers struggled with digital marketing and e-commerce.

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Olga Vidisheva

02/24/15

@ Y Combinator

Talking to over 800 boutique owners was the most helpful thing in starting and running Shoptiques, allowing us to build exactly the solution they needed.

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Olga Vidisheva

02/24/15

@ Y Combinator

I applied to Y Combinator without knowing that being a single non-technical founder might be a disadvantage, and I'm glad I did because it changed the trajectory of my life and business.

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Olga Vidisheva

02/24/15

@ Y Combinator

Always ask for what you want; if you don't ask, the answer is always no. This mindset helped me apply to Y Combinator and ultimately succeed.

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Olga Vidisheva

02/24/15

@ Y Combinator

Be honest with yourself about the kind of business you want to build. I aimed to create a multi-billion dollar business with Shoptiques. Don't go raise money from capital firms that need a high return and an exit in five to ten years.

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Olga Vidisheva

02/24/15

@ Y Combinator

I wanted to build a huge business, but I knew that with the technology I had at the time, I simply couldn't scale to a multi-billion dollar business.

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Olga Vidisheva

02/24/15

@ Y Combinator

At Y Combinator, I approached the team and said I needed a technology team to build something in-house, and they helped me tremendously.

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Olga Vidisheva

02/24/15

@ Y Combinator

I brought on two technical co-founders who started building the website, and while they were working, I decided it was time to fundraise.

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Olga Vidisheva

02/24/15

@ Y Combinator

We raised seed funding from Andreessen Horowitz, Greylock, and Benchmark, who understood marketplaces well.

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Olga Vidisheva

02/24/15

@ Y Combinator

Remember what kind of business you want to build and surround yourself with a network that has invested in similar businesses.

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Olga Vidisheva

02/24/15

@ Y Combinator

Growth is everything; however, my website would crash with every sixth visitor due to technology not scaling properly.

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Olga Vidisheva

02/24/15

@ Y Combinator

As a non-technical founder, the scariest thing is when your core business is failing despite your best efforts.

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Olga Vidisheva

02/24/15

@ Y Combinator

It's okay to cry in the bathroom when things get tough; it's a part of the journey.

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Olga Vidisheva

02/24/15

@ Y Combinator

I learned that the technology co-founders I initially brought in weren't the right fit and didn't have the skills to take the business where I wanted it to go, so I had to fire them.

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Olga Vidisheva

02/24/15

@ Y Combinator

I called my best friend from Y Combinator, who was working on a different company, and asked him to come to New York because I needed help with technology.

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Olga Vidisheva

02/24/15

@ Y Combinator

Eight months later, I had to fire my best friend who was my CTO because he focused too much on technology rather than what users wanted.

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Olga Vidisheva

02/24/15

@ Y Combinator

Make your own path; it's okay not to have a technical co-founder and to figure things out differently.

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Olga Vidisheva

02/24/15

@ Y Combinator

I hired an incredible CTO who is not a co-founder but has goals tied to his compensation, which has worked well for me.

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Olga Vidisheva

02/24/15

@ Y Combinator

We grew over 700% last year, and the site didn't crash once after bringing in the right team.

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Olga Vidisheva

02/24/15

@ Y Combinator

Believe in what you do and surround yourself with passionate people; this is crucial for success.

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Olga Vidisheva

02/24/15

@ Y Combinator

There was never a moment in Choptiques' history that I didn't believe it would be a multi-billion dollar business because I was passionate and surrounded by amazing people.

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Olga Vidisheva

02/24/15

@ Y Combinator

If you don't believe in your idea from the beginning, go find another idea; passion and belief are what will take you to the next level.

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Olga Vidisheva

02/24/15

@ Y Combinator

Marketplaces are tough businesses, but after about two years, they hit an inflection point and start growing exponentially.

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Olga Vidisheva

02/24/15

@ Y Combinator

Surround yourself with people who have lived through the challenges of building a marketplace; their experience is invaluable.

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Olga Vidisheva

02/24/15

@ Y Combinator

If you're a single founder, having a supportive team is essential because you won't have someone to lift you up on tough days.

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Olga Vidisheva

02/24/15

@ Y Combinator

My favorite quote by Jeff Bezos is that in the end, we are our choices; every day you make choices that impact your life and those around you.

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Olga Vidisheva

02/24/15

@ Y Combinator

Believe in what you do because every one of you can start amazing businesses and contribute to the world.

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Olga Vidisheva

02/24/15

@ Y Combinator

Please follow Choptiques on social media and download our app when we launch on March 18th.

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Olga Vidisheva

02/24/15

@ Y Combinator

Thank you for having me; it's been such a pleasure to share my journey.

Olga Vidisheva Speaks at Female Founders Conference 2015

Takeaways