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Spero Ventures

A Founder’s Path From Napkin to NASDAQ

A story of chasing a dream and never giving up

The Founder Flash

The Launch Incubator

The Requested “napkin” founding team (L to R): Nichole Pahl, Jon Shumate, Sonny Mayugba, Carlos Rivera
Slide from Josh Elman’ presentation during the first Launch Incubator

The Bombastic Launch

Live demo launch of Requested in front of 10,000 people during Launch Festival

The Anti-Dilution Trap

Facing the Data

Getting Creative

  • Work to sell the company
  • Build a new business model, based on licensing Requested’s software
  • Make the existing product work
  • Raise more money

A Way Forward

Sonny Mayugba handing out flyers shortly after Requested merged with Watir

Explosive Growth

1. Provide value to your shareholders first, then your employees, then you.

2. Have structured weekly meetings.

3. Mandate no-nonsense weekly reporting by every team member with accountability.

4. Build a strategy.

5. Always stay focused on the product.

6. Find the wells and drill them dry.

7. Have disciplined board meetings.

8. Invest in data.

9. Hire a good investment bank.

10. Prepare for a clean bill of health.

Selling for $308M, Then Going Public

Sonny Mayugba and his original Requested napkin team during Waitr’s opening day on the Nasdaq

The Most Important Founder Lesson

Sonny’s family who was behind him every step along the journey
Watch Sonny Mayugba’s “From Napkin to Nasdaq” keynote including full Q&A



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Spero Ventures

Spero Ventures is an early-stage venture capital firm driven to deliver value to shareholders and society.