Marshall: Startup CAC is most efficient early on before market competition increases
Woody Marshall · 20VC: Learnings From Backing The Likes of Spotify and Airbnb, The World of Growth Investing Today and The Right Way For Investors To Think About Liquidity with Woody Marshall, General Partner @ TCV · Oct 8, 2018 · at 21:38
Woody Marshall, General Partner at growth equity firm TCV, reflects on past portfolio investments and how customer acquisition costs escalate over time.
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“There's sometimes, like, we look back at companies and say, God, we should have spent twice as much on customer acquisition because customer acquisition was remarkably efficient in the early days, and over time, it gets more and more competitive.”
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