Clay Water Brick by Jessica Jackley

Author:Jessica Jackley [Jackley, Jessica]
Language: eng
Format: epub
Publisher: Random House Publishing Group
Published: 2015-06-23T00:00:00+00:00

CHAPTER 7

Walk Your Own Path

Break Up with the QB

In the late spring of 2005, just after Kiva’s pilot round of loans had been distributed and a few months before we were set to officially launch, Matt and I were approached by two entrepreneurs who were also trying to develop their own venture in the microfinance space. Early into our initial conversation with them, they proposed that we join forces.

One of the founders had been an integral force behind one of the most successful web start-ups at the time. He struck us as smart and savvy, and through his previous work he had gained access to Silicon Valley’s most elite circles. The other founder was also well-connected and had deep experience in the nonprofit world. She was a charismatic figure, and presented herself as someone whose involvement (or lack thereof) had the power to make or break an idea’s ability to succeed.

We were flattered and somewhat confused by their invitation to partner with them; they seemed to have everything already going for them, and we had barely gotten started. But pairing up with this duo offered an intriguing opportunity, so we didn’t ignore their offer. We asked them more questions about what they were doing, and how they thought we could work together. It was true, similarities did exist between our two ideas: We both wanted to innovate in the microfinance sector, we both wanted to give everyday people new options to empower entrepreneurs, and the timing of both ventures’ beginnings did seem uncanny.

On the other hand, the similarities between the two organizations seemed superficial somehow. It wasn’t clear that our core values aligned, and we definitely had different styles. For instance, we each used drastically different language to talk about our work; theirs seemed very business-focused and sophisticated to me, and ours felt simpler and more accessible. They spoke of users, we spoke of people. They talked about transactions, we talked about relationships. They referenced untapped markets and consumer trends, and we just talked about the kinds of markets where our entrepreneurs sold fish or vegetables or cooking oil. There were also vast differences in our visions. Kiva’s was to become a portal for everyday people to lend directly to entrepreneurs; theirs was to create a securities marketplace for people to invest in microfinance institutions, as one would invest in the stock market.

Despite the obvious disparities between the two ventures, we remained intrigued by the possibility of working with such formidable people and continued to engage in conversations with them. As we did, and as we learned more and became even more intimidated by who they presented themselves to be, a sobering realization occurred to us. At this stage, after we had learned so much about them, rejecting their offer to partner would probably offend them and turn them against us. Choosing not to partner with them meant choosing to compete instead. At that stage, the idea of going head-to-head with a start-up like theirs was incredibly daunting and, we assumed, would inevitably mean losing.

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