Alexa Von Tobel describes LearnVest's organic growth and acquisition strategy before being acquired by Northwestern Mutual.
Assertion Partly supported
Von Tobel: 80% of Americans live paycheck to paycheck
“Right now, 80% of the country lives paycheck to paycheck, and money is your lifeline.”
Insight
Von Tobel: Let the five smartest people you know shred your company
“Find the five smartest people you know, and let them shred your company. It sucks for somebody to be like, this is a terrible idea. This part sucks. This part sucks. But I think that the thing that I wish I would have told myself is like, really lean into the …”
Assertion Supported
Von Tobel: LearnVest sold to Northwestern Mutual for about $375M
“We ended up selling for just about three hundred and seventy five million dollars”
Insight
Von Tobel: Loving your work means working nonstop with zero boundaries
“Somebody once said to me, like, do what you love to do, and you'll never work a day in your life, and I, I've actually come up with this one, which is, do what you love, and you will work every day of your life, all the time, with no boundaries, and take thing…”
Assertion Not checkable as stated
LearnVest secured 50,000 signups and almost 10 Series A term sheets instantly
“By the end of the month, we had about 50,000 signups, and what was really crazy is then, all of a sudden, I had almost 10 term sheets being like, I want to commit to your Series A.”
Assertion Not checkable as stated
Von Tobel: LearnVest held over $50M in cash before acquisition
“We, fifty million dollars, 50 plus million dollars of cash.”