Bilbao: Instacart's $41M Series B inspired the founding of Rappi
Andres Bilbao · He took on Uber & grew Rappi to $5B—here’s why the craziest founders often win. | Andres Bilbao, ... · PMF Show · Sep 16, 2024 · at 3:02
Andres Bilbao, co-founder of Latin American delivery super-app Rappi, discusses how the founding team decided to enter last-mile delivery in 2014.
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“You would say that Felipe, one of my business partners, he saw Instacart raise like forty one million dollars. I think it was like a Series B or something like that. And we thought that that was like all the money in the universe, right? And Felipe said, we should definitely do that. And he sort of like wanted to quit, but instead of quitting, it's like, let's start wrapping.”
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More from Andres Bilbao
Bilbao: LatAm founders must appear Americanized to raise mega venture rounds
“In Latam, as a founder, I feel that if you want to raise like giant funds,
You have to come across as an American or American Mitch.
You know what I mean?
Like somehow us educated, there's this need to feel very American.
Otherwise I don't think that you race.”
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“What are you going to do? Go and talk to each of them, have like three months negotiate. No dude, you just sent the courier. So you just got the menus. Put them on the app, and then people start ordering”
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“When people give Kalanick shit, Over some of the stuff that happened in culture they fail to understand how aggressive and how demanding the industry is and the marketplace business in that regard is that you had to have someone extremely aggressive to be able…”
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