Listen: Jonathan Jonathan, Rebecca, Facebook discussed on Venture Stories
"Hey, everybody, it's torbert co-founder partner village. Global eight network driven venture firm, and this is metro stories a podcast covering topics related tech business with world leading experts. Hey, everybody. Welcome to another episode of venture stories by village global. I'm here today with three very special guests, and we're going to be talking about consumer. I I would like everybody to introduce themselves and your history in the consumer space, Rebecca, perhaps we'd start with you share. I'm Rebecca Kayden. I'm a partner at union square ventures where a New York based these is driven venture capital firm before that I spent about five and a half years at Maveron, which is a consumer only firm, and so most of mine vesting history is in consumer really across a couple of different things brands and retail platforms consumer wellness education and financial services, which are kind of big buckets of consumer spend that excite me. Hey, everyone. My name's Nicole BUSTER treve de imagining director Shasta ventures joined the firm in twenty twelve around the same time, Rebecca joint Maveron kind of grown up in the venture business together and similar Rebecca have spent my time in the last seven years in consumer everything from Quincy more products companies to financial technology businesses to some stuff in consumer health. And one of my companies is the farm dog really excited have Jonathan Jonathan. Can you introduce yourself in the farmer's dog? Sure. Jonathan Regev the CTO at the farmer's dog which is day. Deidra, her fresh pet food company and my first foray into consumer was helping watch some ecommerce companies in in Asia and amidst New York and started the farmers Doug air, cool and Aqeel one you tell the story of how you found the farmer's dog. And what would attract you so much show? Why got to meet Jonathan and brats the founders early on I think maybe three or four months before. So we ended up leading the company's series A. And we the long been interested in the category. At Shasta have felt that the category is just a phenomenal consumer category to invest in. And what we really liked about the farmer's dog is that the creating a whole new category within pets this idea of fresh pet food something that people haven't been able to really consume in the traditional retail stores uniquely suited to online and subscription. And then love the passion that Jonathan his co founder Brett had for the business. And so all those things let us to end up leading the series around awesome. Let's zoom out and then we'll come back into specific categories. Rebecca, you've been doing consumer since twelve we just established. So I how have you seen it evolve? In his in terms of how you purchase investing. And how do you foresee it evolving in the future? Where are we right now? So I think it's evolved both on the consumer. Behavior side, and then the fundamental kind of platforms and infrastructure that permit consumer brands to grow on the behavior side, but we've seen is a real appetite in kind of explosion around desire for the new right? So a movement away from comfort with legacy in entrenched brands to a desire for brands that Stanford things in our value-based, much more personalized where discovery in newness is fun and cool and exciting to really amass customer base. Not only early adopters and related to the platform side, where it's way more accessible than it's ever been in. So, you know, obviously, this last decade has been explosion of Facebook and Instagram and Massaccessi ability where brands can reach customers faster and cheaper really than ever before. And that's created a lot of opportunity to go get them and not only to make the products, but to sell them in a direct way to tell that. Story, and that's been really exciting. And it's allowed for a huge amount of innovation and adoption on one hand, I think that customer behavior in that desire for the new is only continuing where more eager to explore new things were more eager for these brands to stand for something than ever before. But the underlying nature of these platforms where they found is changing. And it's changing pretty quickly. Cavs across the board are rising the fundamental structures of these platforms are evolving. And so I think the next era is going to be a couple of things it's going to push brands to really think about long tail acquisition strategy of how to get customers in new ways after hearts and minds, including organic ways. And I don't mean, you know, magic fairy dust organic ways, I mean, what are strategic structural ways that get people talking and sharing and connecting an often that has to do with building more than a transaction, but building and engaged brand post transaction as well. So I I always think about DEA and co as an. Example about which is a business I invested in both Maveron, and we recently lead the series see at USC in so customers transact they Diene co is a commerce platform for buying plus size clothing. But these customers wind up feeling part of something. So not only have they gotten the clothes, which is great. That's functional. They liked the style. That's cool. But they also feel connected to the brand, and you can tell that because they're engaged in the Facebook group riding"