The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
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Floodgate's Initial Zimride Investment Thesis Incorrectly Relied on Facebook Connect
“The thing that we were betting on was the Facebook Connect, to be honest. We thought that that was going to create more trust in this network, even within Zimride. Now, that was the thing that we thought was the real change element. It turns out that wasn't, r…”
Rachitsky: Zimride hired its first PM to develop Lyft
“So as an example, Zimride, to explore the idea of Lyft, hired their first PM, and his job was go explore this idea of Lyft.”
Lyft Founders Built the Original App in Three Weeks in 2012
“And like when I say we were experimenting, I think John and Logan emailed a bunch of Zimride users in the San Francisco area, and they built Lyft in like three weeks because they felt like this was an experiment that they wanted to run.”
Miura-Ko: Startup Pivots Are Iterative Processes, Not Single Moments
“And so, if you think, like, a pivot in many people's minds is just like a moment. It's like the singular decision, and it's like a lightning strikes you, and you know. In reality, what happened with Lyft was that Zimride went through hundreds of iterations.”
Miura-Ko: Zimride was extraordinarily capital efficient before competing with Uber
“And in fact, if you look at Zimride, it was an extraordinarily capital efficient business. And in fact, they were extraordinarily capital efficient until they were in competition with a company that had a huge budget to play with, and so it was a matter of sur…”
Pishevar passed on investing in Zimride before it became Lyft
“What happened was Lyft was, you know, Zimride, and I had passed on Zimride”
Fishman: Zimride pivoted to Lyft within five months of his joining
“And I joined a company called Zimride as their head of growth. And we pivoted Zimride to Lyft in about, I don't know, four or five months after I joined.”
Zimride Generated Millions in Revenue Before Pivoting Entirely to Lyft
“You have, like, a few million dollars of revenues coming here, and, like, that's what investors invested into, that was really powerful, because you don't have a ton of data points.”
Floodgate Invested in Zimride Two Years Before Its Lyft Pivot
“We made our investment in 2010, and the actual change didn't happen until 2012.”
Lyft Co-Founder John Zimmer Promoted Zimride Wearing a Beaver Suit
“The fact that John Zimmer, when he was selling the platform to universities, would go to a university campus dressed in a beaver suit to try to convince people to just engage with this platform gives you a sense for, like, it wasn't that they felt like someone…”