Santiago Sosa, Tiendanube | E-commerce, Pivoting, SaaS Growth for SMBs, and Raising from Angels [Ep. 2]

The audio and video are in Spanish. These notes are a translation.

A few years ago, if you wanted to start an online store and you did not know how to code, you were forced to pay thousands of dollars to a development agency. Today, there are Software as a Service (SaaS) solutions such as Tiendanube that let you create your e-commerce in hours and for a few dollars a month. These tools have seen dramatic growth because of COVID-19.

To talk about this sector, we are very happy to have Santiago Sosa, CEO and cofounder of Tiendanube, the startup that provides entrepreneurs and SMEs in Latin America with the tools to create, manage, and promote their e-commerce or online store. Last October, Tienda Nube closed its Series C for USD 30 million with venture capital funds such as Kaszek Ventures, Qualcomm Ventures, FJ Labs, IGNIA, and Elevar Equity.

What You Can Learn Today

• Opportunities in the e-commerce sector in Latin America
• Growth recommendations for SaaS
• Differences between angel investors and VC funds

If you like the podcast, the easiest way to help us is by leaving a review with ⭐⭐⭐⭐⭐ on Apple Podcasts. It takes less than 1 minute and helps us convince the hardest guests to land, such as David Vélez, CEO and founder of Nubank, whom we would love to interview.

Origin of Tiendanube, E-Commerce Enabler

• [1:42] - How did Santiago arrive at the world of startups?
  • The role of university in Santiago’s career
• [5:28] - From Link Store to the e-commerce enabler model with Tiendanube
  • What is the marketplace or aggregator model about?
  • How the Tiendanube e-commerce platform works
• [8:05] - Birth of Link Store
  • Brand identity as a fundamental piece
  • The relevance of listening to your user
• [10:51] - What is still left to exploit in the e-commerce sector in LatAm?
  • Integrating technology to improve the experience
• [16:18] - Tiendanube’s strategies to win over SMEs in LatAm
  • The importance of usability
  • Analytics and business intelligence to understand the customer
  • Tiendanube’s early bet on e-commerce on mobile phones
• [19:44] - The science and the art in acquisition channels
  • How does Tiendanube work its acquisition channels?
  • The free trial within Tiendanube’s strategy
  • Why is the free trial important for customers?
• [23:58] - Growth advice for SaaS in other verticals
  • The win win of a SaaS ecosystem

Fundraising and the Future of Tiendanube

• [27:25] - What did the angel investors see in Tiendanube’s founders to invest in their startup?
• [30:40] - Santiago’s fundraising experience
  • The differences between the angel investor and venture capital
• [35:05] - Tiendanube’s future plans
  • Expansion to another country?
  • Investment in new services

Tweet Round

• [38:34] -
  • Recommended books: Thinking in Systems: A Primer
  • The investor who has contributed the most to Tienda Nube: Kaszek Ventures (Nicolás Szekasy)
  • A change in the world of startups: there should be more people dedicated to starting companies
  • The best entrepreneur: Jeff Bezos

Episode Mentions

Recommended books: Thinking in Systems: A Primer

Investors: Nicolás Szekasy of Kazek Ventures, Fabrice Grinda of OLX and FJ Labs, Alec Oxenford of DeRemate.com and OLX, Jose Marin of DeRemate.com and FJ Labs, and Wenceslao Casares of Xapo

Venture Capital funds: Kaszek Ventures, Qualcomm Ventures, FJ Labs, IGNIA and Elevar Equity

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