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20VC Prediction Open · timeframe Sep 2029
Gurski: Five or more $10B+ consumer subscription companies will exist by 2029
“I think we will have them because this business model is growing, and you might just check numbers of Apple, and you may see that Apple got from consumer subscription in 2017 and five billion, and it's projected that we'll get maybe one hundred billion or so n…”
Dmitry Gurski Sep 23, 2024 ▶ 54:42 Dmitry Gurski: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health|E1205 · 20VC with Harry Stebbings
20VC Assertion Not checkable as stated
Gurski: Flo Health spent $150M on product using Eastern European talent
“We invested to product, just to product, up to this moment, one hundred fifty million, and we mostly had engineers in Eastern Europe, like, to understand that in standards of UK or United States, you should multiply that on two”
Dmitry Gurski Sep 23, 2024 ▶ 13:01 Dmitry Gurski: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health|E1205 · 20VC with Harry Stebbings
20VC Assertion Supported
Gurski: Flo Health has reached $200M in annual revenue
“I am running company with two hundred million in revenue”
Dmitry Gurski Sep 23, 2024 ▶ 26:10 Dmitry Gurski: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health|E1205 · 20VC with Harry Stebbings
20VC Assertion Not checkable as stated
Gurski never flies business class to save money for hiring developers
“I never use business class even in my trips to United States, even to Seattle or San Francisco because all the time I'm thinking, okay, five, 10,000. I would better to pay one month of salary to developer in Lithuania Then she raised this money for my comfort,…”
Dmitry Gurski Sep 23, 2024 ▶ 26:21 Dmitry Gurski: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health|E1205 · 20VC with Harry Stebbings
20VC Prediction Not checkable as stated
Gurski: Flo Health can reach $600M revenue in several years
“It's achievable in several years for us to be in the range of six hundred million.”
Dmitry Gurski Sep 23, 2024 ▶ 1:00:45 Dmitry Gurski: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health|E1205 · 20VC with Harry Stebbings
20VC Assertion Partly supported
Flo Health relocated over 90% of its Belarusian workforce in 2022
“When work started in 22, we had 70% of our employees in Belarus. It was more than 290% of them were located with families in several days.”
Dmitry Gurski Sep 23, 2024 ▶ 1:13:34 Dmitry Gurski: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health|E1205 · 20VC with Harry Stebbings
20VC Assertion Not checkable as stated
Gurski: 30 CMO candidates gave 30 different definitions of brand
“I was in process of hiring of chief marketing officer, and I had maybe 30 different candidates to meet, and I was asking the same question, what's the brand, by your opinion, to 30 different simios, and I got 30 different answers.”
Dmitry Gurski Sep 23, 2024 ▶ 24:10 Dmitry Gurski: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health|E1205 · 20VC with Harry Stebbings
20VC Assertion Supported
Flo Health increased onboarding premium conversion by 8x through A/B testing
“A conversion to premium on onboarding increased in several years eight times, 800%, because of optimization, because of hundreds of A-B tests, and because of this approach that we should not just create value, we need to explain value, we need to sell”
Dmitry Gurski Sep 23, 2024 ▶ 36:53 Dmitry Gurski: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health|E1205 · 20VC with Harry Stebbings
20VC Assertion Not checkable as stated
Flo Health monetizes 25-30% of its non-teen US audience
“Now we monetized, maybe if we exclude teenagers, 25, 30% of our American audience”
Dmitry Gurski Sep 23, 2024 ▶ 40:37 Dmitry Gurski: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health|E1205 · 20VC with Harry Stebbings
20VC Assertion Supported
Flo Health reached $100M in revenue within four years of monetizing
“Four years, maybe. But we had a substantial audience when we started monetization because we started monetization in 2018 and product existed for three years.”
Dmitry Gurski Sep 23, 2024 ▶ 44:39 Dmitry Gurski: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health|E1205 · 20VC with Harry Stebbings
20VC Assertion Not checkable as stated
Flo Health made almost no product progress for six months post-relocation
“For half a year we, almost didn't have any progress with our product because all people were so stressed and defocused by moving families, and it was a huge, huge destruction, and it was very expensive as well.”
Dmitry Gurski Sep 23, 2024 ▶ 1:14:13 Dmitry Gurski: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health|E1205 · 20VC with Harry Stebbings
20VC Prediction Not checkable as stated
Gurski: Flo's success will make fundraising easier for future femtech founders
“Our success was so beneficial for the industry because you are VC and you know that VC are making decisions based on benchmarks. And now, like all VCs will start believing that it's possible to have a great success in this industry and all founders will have m…”
Dmitry Gurski Sep 23, 2024 ▶ 1:23:14 Dmitry Gurski: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health|E1205 · 20VC with Harry Stebbings
20VC Assertion Partly supported
Dmitry Gurski: Flo team achieved six startup exits including Google and Facebook
“We had six exits up to this moment. We had exit to Google, exit to Facebook, ah, we started several companies, ah which have has revenue in a 100,000,050 million.”
Dmitry Gurski Sep 23, 2024 ▶ 6:44 Dmitry Gurski: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health|E1205 · 20VC with Harry Stebbings
20VC Assertion Not checkable as stated
Flo Health prepared a 700-page market research document before launch
“I remember that before starting Flow, our document about this market and potential product had 700 pages,”
Dmitry Gurski Sep 23, 2024 ▶ 10:05 Dmitry Gurski: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health|E1205 · 20VC with Harry Stebbings
20VC Assertion Partly supported
Gurski: Competitor Glow raised $30M from top VCs before Flo launched
“They raised from Anderson Horowitz and Founders Fund, thirty million, almost immediately. They started three years before Floor”
Dmitry Gurski Sep 23, 2024 ▶ 11:39 Dmitry Gurski: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health|E1205 · 20VC with Harry Stebbings
20VC Assertion Not checkable as stated
Flo Health: Simplicity Ranked Top User Priority for 7-8 Consecutive Years
“Each year we have a deep research of our user base. What's the most significant for them in our product? And for seven or eight years in a row, the most popular answer, simplicity, simplicity, nothing else.”
Dmitry Gurski Sep 23, 2024 ▶ 48:36 Dmitry Gurski: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health|E1205 · 20VC with Harry Stebbings
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