This guy had two $10,000,000+ exits🚀. By selling the same idea 💡TWICE | 04 Startup 360 by Sivesh |
The Story of "tbh" and "Gas" Founder
Hello Entrepreneurs,
I am back, and this week I will be sharing a story. Story of a founder who took two exits working on the same idea. Story of
Persistence, Experiance and Adaptability
A story which will motivate a lot of founders who for some reason have stopped believing in their ideas...
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So now the story and the learning:
This guy had two $10,000,000+ exits...
By selling the same idea.
TWICE.
Here's the story of The Viral Engineer (and 3 key lessons for your business):
Nikita Bier co-founded the app 'tbh,' in 2017.
It allowed high school students to anonymously complement each other.
The app went viral.
Hitting #1 on the app store.
2,500,000 daily users in just 9 weeks.
This rapid growth caught the attention of Facebook.
Who acquired the app for $40,000,000.
But...
Facebook shut down 'tbh' in 2018 due to low usage.
Bier then signed a non-compete agreement and joined Facebook's team.
After the non-compete expired...
Bier founded a similar app called 'Gas' in 2022.
It was similar to 'tbh.'
But with a crucial difference...
'Gas' offered users the option to pay for 'God Mode.'
Which provided hints about who was anonymously complimenting them.
This innovative feature helped the app stand out.
And it quickly gained traction.
7,400,000 installations.
Nearly $7,000,000 in consumer spending.
'Gas' even briefly dethroned TikTok as the most downloaded social media app on the Apple store.
Discord then acquired Gas in an 8-figure deal.
Bier has a talent for entrepreneurship.
But his story shows success is repeatable.
Here are the top 3 business lessons to launch your own 8-figure idea:
1. Adapt and innovate.
By introducing a paid feature like 'God Mode'...
He added a twist that generated huge revenue and made the app more appealing.
Constantly reassess your products and be open to making changes.
2. Persistence pays off.
Bier didn't give up after his first app was shut down.
He believed in his idea and saw an opportunity to bring it back to life.
Leading to another successful exit.
3. Leverage your track record.
Bier was able to build trust with potential investors for 'Gas' using his past experience.
This played a significant role in the app's eventual acquisition by Discord.
A proven track record of success can open doors for your future ventures.
That’s all for today. See you all next week.