Hongwei Liu, founder and CEO of Mappedin, reflects on appearing on Dragons' Den and discusses why consumer media exposure offers false validation for B2B enterprise software companies.
“What we didn't get from that was customers. Cause you know, if you're selling lawn chairs, dragon's end is awesome. People on their couch, buy lawn chairs off the TV. They're not buying indoor mapping software for their mall, right? Like that's not enterprise buying behavior. So, so that was bad validation.”
quote is from the automated transcript, cleaned for reading:
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More from Hongwei Liu
Insight
Buildings need unified map maintenance tools rather than custom consumer apps
“While every building might want a different app for some mapping use case, they're all going to want the same productivity tool for maintaining their own maps.”
Hongwei LiuFeb 1, 2023▶ 14:43Hongwei Liu, Founder of MappedIn | How to Find Product Market Fit · PMF Show
AssertionNot checkable as stated
Most of the world's large shopping malls use Mappedin
“Today we have, you know, Definitely CF, but most of the malls big malls in the world are using us.”
Hongwei LiuFeb 1, 2023▶ 17:23Hongwei Liu, Founder of MappedIn | How to Find Product Market Fit · PMF Show
AssertionNot checkable as stated
Mappedin is used by approximately 10% of Fortune 500 headquarters
“Today we're working with, like, 10% of the Fortune 500 headquarters. Their office managers are using maps and tools to maintain.”
Hongwei LiuFeb 1, 2023▶ 18:43Hongwei Liu, Founder of MappedIn | How to Find Product Market Fit · PMF Show
AssertionNot checkable as stated
Mappedin is the largest indoor mapping startup in the world
“I, I'd say we're by far the biggest indoor mapping startup in the world in terms of customers, revenue, square footage, et cetera.”
Hongwei LiuFeb 1, 2023▶ 26:12Hongwei Liu, Founder of MappedIn | How to Find Product Market Fit · PMF Show
AssertionSupported
Mappedin won a US Homeland Security contract for firefighter indoor mapping
“We submitted this RFP for Homeland Security and we won. Canadian company won a US defense contract to build and to adapt our indoor mapping tools for that.”
Hongwei LiuFeb 1, 2023▶ 29:11Hongwei Liu, Founder of MappedIn | How to Find Product Market Fit · PMF Show
AssertionSupported
New Jersey allocated $6.5M to map state schools after the Uvalde shooting
“August 30th, twenty-twenty twenty-twenty-two, the governor of New Jersey puts out a press release saying, I'm allocating six and a half million dollars of Funding to map all the schools in the state of New Jersey because Uvalde happened and maps of schools are…”
Hongwei LiuFeb 1, 2023▶ 21:37Hongwei Liu, Founder of MappedIn | How to Find Product Market Fit · PMF Show
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