John James, founder of Acumen Brands, describes how Facebook algorithm shifts eliminated organic distribution for Country Outfitter.
0:00 / 0:13exact quote · 13.3s
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“So I think we had 56% reach when we'd post an organic Facebook post. And literally overnight, over a span of about three different algorithm tweaks, that went to .5%.”
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“We were on a run rate before Facebook changed their algorithm over a hundred million dollars, and it dropped south of a hundred million dollars during the, in between the time of the investment and when I left.”
John JamesOct 30, 2018▶ 5:391193 Now Anyone Can Use the Tech He Used to Build His $100m eCommerce Brand
Insight
James: Do not build your business on third-party platforms
“And so, you know, the advice and the learnings there is, you know, don't build your business on someone else's platform. Don't be Facebook's bitch. Don't be Google's Move it onto your own platform.”
John JamesOct 30, 2018▶ 6:551193 Now Anyone Can Use the Tech He Used to Build His $100m eCommerce Brand
Opinion
John James: Walmart overpaid for Jet.com, but Marc Lore is a genius
“Well, of course they did, but Mark Lohr's a genius. There's only two of him, and one's named Jeff Bezos, and then Mark's the other one. So yeah, of course they overpaid.”
John JamesOct 30, 2018▶ 18:321193 Now Anyone Can Use the Tech He Used to Build His $100m eCommerce Brand
AssertionNot checkable as stated
James: General Atlantic Acumen Brands Buyout Valued Company at $157.5M
“They took a majority stake in it. I think post money on it, and there was some money on the balance sheet. I think it was 157 and a half. Million post money.”
John JamesOct 30, 2018▶ 5:261193 Now Anyone Can Use the Tech He Used to Build His $100m eCommerce Brand
AssertionNot checkable as stated
Acumen Brands abandoned 19 stores when Country Outfitter hit 90% of revenue
“So we had 20 stores running and then we look up one day and realize that country outfitter is 90 plus percent of our revenue. So we abandoned the rest of them”
John JamesOct 30, 2018▶ 3:001193 Now Anyone Can Use the Tech He Used to Build His $100m eCommerce Brand
AssertionNot checkable as stated
James: Majority of General Atlantic's $83M Acumen Deal Was Secondary Liquidity
“Most of that was secondary, and in fact, the majority of it was, so you know, depending on who you're talking to, it's, it was a venture event, or it was a secondary liquidity event”
John JamesOct 30, 2018▶ 4:431193 Now Anyone Can Use the Tech He Used to Build His $100m eCommerce Brand
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