“I actually think that if you look at Uber, Airbnb, Meta, they don't use events, or at least not in the early days. We didn't use events at Revolut.”
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More from Val Scholz
Insight
Startups without product-market fit can exit for $400M via traffic arbitrage
“Even if you don't have product market fit, you can sell a business for four hundred million, you know, because if you're just good enough to generate constantly more traffic and it's cheaper to generate or buy traffic than the money you're making, the business…”
Val ScholzJun 21, 2024▶ 23:31Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Opinion
TransferWise couldn't figure out Revolut's free FX cross-selling strategy
“So that was always like the secret sauce, which I think, you know, like for a long time, competitors couldn't really figure out. I think Transwise couldn't really figure out like, how can we give it away for free and still make more money than them?”
Val ScholzJun 21, 2024▶ 10:48Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
AssertionNot checkable as stated
Revolut hired young, driven talent over pre-existing skills
“Nick basically looked at, looked for very young people, very driven people, very smart people. That was basically the main requirements, right? The thinking was kind of like, you know, we can teach people skills. We can't teach them the right behaviors or atti…”
Val ScholzJun 21, 2024▶ 27:37Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Opinion
Mixpanel and Amplitude create most data issues for tech companies
“Mixpanel, amplitude, didn't really change for like probably 1520 years which usually creates most of the issues in a company.”
Val ScholzJun 21, 2024▶ 46:49Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
Insight
Building product-led growth starting with paid marketing rarely works
“I don't think you can, it's really hard to build a product led business if you start with paid marketing.”
Val ScholzJun 21, 2024▶ 50:51Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
AssertionSupported
Revolut grew fastest in Ireland, Romania, and Poland, not the UK
“So if you think about Revolut against Monzo, right, like the markets we grew the fastest wasn't the UK. It was Ireland, it was Romania, Poland.”
Val ScholzJun 21, 2024▶ 0:04Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
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