World Changers by John A. Byrne

Author:John A. Byrne
Language: eng
Format: epub
Publisher: Penguin Group US
Published: 2011-11-13T16:00:00+00:00

Reid, I’m sure it wasn’t smooth sailing. No start-up ever is. So what were some of the major hurdles you had to overcome?

The first crisis was not unexpected but real. Our growth rate was not what it was expected to be and if we keep on this growth rate we are going to die. So we immediately focused on what was keeping people from signing up and what do people want when they are here. And we found that they weren’t signing up because they thought they could do it later and what they were most interested in doing was knowing who else is there. Those things called for a virality fix.

The other thing was we went through the whole Series A without a dime of revenue, just focusing on growth. It took us 464 days to get to one million members. It’s now more than 100 million. Despite the fact that we thought we had launched a pretty unique idea, there also were a number of different professional networks. There was Spoke.com, Zero Degrees Network, Visible Path, and some other ones, too. They were all doing the professional network idea. So to get it to one million members and breaking through that was really key. We had a bit of a crisis when we discovered that Spoke was also trying to do a public and private network in the professional space. But none of them got nearly the traction we got.

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