4. John Lee | Loopie (uber for laundry)
Episode description
John Lee is the Founder and CEO of Loopie.
For John, his obsession has always been to create a dual-benefit venture. He loves the concept of a company that is able to benefit multiple parties, simultaneously. In 2018, he dreamed up the concept for Loopie, a mobile app for laundry that connects people who don’t have the time or desire to do their own with other people who can wash, dry and fold at home for a little extra cash.
John dubs Loopie the "uber for laundry" in the sense that Loopie is the asset light marketplace that connects customers and washers, but doesn't have to own a single laundromat, washing machine or dryer.
Today Loopie has pretty impressive traction in Seattle and is planning to launch to new markets soon.
This was a really interesting interview that sheds light on the path of a first time founder and the climb to product market fit and eventual scale.
Tune in to hear John's inspiring story and leave a review!
EPISODE TOPICS:
- (1:48) What does Loopie look like today (mission, vision, products, size)?
- (2:29) What is your background and what were you working on before starting Loopie?
- (7:08) Where did the idea for Loopie come from?
- (11:34) What came first - idea socialization or early prototype development?
- (13:28) What was the early feedback on the initial concept for Loopie?
- (16:04) How long did it take to go from idea to workable prototype?
- (19:03) What did the team look like early on?
- (21:45) What are the unit economics on the business?
- (23:31) How does the laundry drop-off process work?
- (25:20) How did you acquire your early customers?
- (26:51) How do you think about growth?
- (29:45) What's your bigger constraint, finding customers or washers?
- (33:51) How do you think about competition?
- (45:25) How do you think about funding?
- (53:05) What does your team look like today and what do you look for when you hire?
- (57:02) How are you thinking about scaling the business?
- (1:04:14) How do you think coronavirus will impact the startup landscape?
- (1:08:41) Who was your most underrated hire?
- (1:10:09) Did you have an advisory board?
- (1:12:36) What books or resources would you recommend?
- (1:14:37) What's one thing that you know now that you wish you knew when starting out?
- (1:16:47) What do you think it takes to be a good founder?
- (1:21:18) What is your morning routine?
- (1:24:17) John's startup manifesto
- (1:27:25) John's founder nomination
- (1:29:35) Where should we look to contact you?
Loopie - www.loopie.io
- Follow Loopie (@loopielaundry) on Instagram // Twitter
- Follow John on LinkedIn // Instagram
- John's learning and resource recommendations
The Founder - www.thefounderpod.com