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Back in 2005 on Valentine's Day, three (single) guys had nothing to do.
So they decided to build an app.
This is the wild story of how one of the biggest social media networks in the world started as a dating site:
So they decided to build an app.
This is the wild story of how one of the biggest social media networks in the world started as a dating site:
It was 2005 and the demand for the video was on.
But the three founders, Chad, Jawed, and Steve, needed a practical application for video.
But the three founders, Chad, Jawed, and Steve, needed a practical application for video.
Valentine's day was around the corner...
So dating was the obvious use case for the (single) founders.
They even came up with a slogan for it:
"Tune in, Hook up"
So dating was the obvious use case for the (single) founders.
They even came up with a slogan for it:
"Tune in, Hook up"
v1 of the app was designed as a way for people to upload "vlogs" of themselves talking about what they wanted in a partner.
With the dating industry set to hit $8.4B in 2024, perhaps it was the right niche to start with but just at the wrong time...
prnewswire.com/news-releases/…
With the dating industry set to hit $8.4B in 2024, perhaps it was the right niche to start with but just at the wrong time...
prnewswire.com/news-releases/…
Nevertheless, after launching, for five days, not one single person uploaded a video.
Not. one. single. person.
Not. one. single. person.
The whole thing didn't make any sense.
The team was so desperate for some actual dating videos (whatever that means) that they turned to the website any desperate person would turn to:
Craigslist.
The team was so desperate for some actual dating videos (whatever that means) that they turned to the website any desperate person would turn to:
Craigslist.
Despite offering to pay women $20 to upload videos of themselves on Craigslist, nobody came forward, forcing the team to adopt a different strategy...
“OK, forget the dating aspect, let’s just open it up to any video”
It was soon clear that the dating idea perhaps wasn’t going to work.
It was soon clear that the dating idea perhaps wasn’t going to work.
This is where the team decided to do something bold:
They decided to open up the app to every video instead of keeping it to a niche.
They decided to open up the app to every video instead of keeping it to a niche.
BuT StARtuPS shOUld StICk tO thEiR niCHE
This team was about to break the age-old rule of sticking to a niche early into their venture.
This team was about to break the age-old rule of sticking to a niche early into their venture.
By breaking this rule, the team uploaded its first official video in April 2005 onto the platform during its private beta.
The video was called: Me At The Zoo
(This is the actual video, below)
The video was called: Me At The Zoo
(This is the actual video, below)
Within a month, the app launched its beta version, and the website attracted 30,000 viewers a day.
Half a year later, over two million users were using the site daily.
In late 2005 @sequoia invested $3.5M into the company's Series A.
Things were COOKING.
Half a year later, over two million users were using the site daily.
In late 2005 @sequoia invested $3.5M into the company's Series A.
Things were COOKING.
In October 2005, the platform saw its biggest viral video hit one million views.
The video was a Nike ad featuring Ronaldinho (see below) receiving his pair of "Golden Boots."
This was the first of many viral videos to hit millions of views.
The video was a Nike ad featuring Ronaldinho (see below) receiving his pair of "Golden Boots."
This was the first of many viral videos to hit millions of views.
By the end of its first year, the platform was receiving around 25 million views daily.
The platform was a virality magnet.
Videos posted on the platform could go viral for many reasons, from successful ads to a simple one-minute clip of a baby biting someone else’s finger.
The platform was a virality magnet.
Videos posted on the platform could go viral for many reasons, from successful ads to a simple one-minute clip of a baby biting someone else’s finger.
In late 2006, only a year and a half after the company was started, the company was quickly acquired by @Google for a whopping $1.65 Billion dollars.
The company is one we've all heard of:
• “You” represents that the content is user-generated, created by individual users, and not the site itself.
• “Tube” is a nod toward an older original term for television.
Put them together and you get...
That's right:
YouTube
• “You” represents that the content is user-generated, created by individual users, and not the site itself.
• “Tube” is a nod toward an older original term for television.
Put them together and you get...
That's right:
YouTube
Youtube has kickstarted the careers of many superstars of the video platform, including @pewdiepie, @MrBeast , @MichellePhan , @psy_oppa and more.
Without the platform, many wouldn’t have had the chance to chase their passions.
Without the platform, many wouldn’t have had the chance to chase their passions.
Today, Youtube has evolved from helping showcase amateur videos to original content, licensed by singers, bloggers, and more.
It has since grown from just collecting ad revenue to a full-fledged streaming platform as well as a subscription service.
It has since grown from just collecting ad revenue to a full-fledged streaming platform as well as a subscription service.
In 2022, YouTube's revenue* accounted for 11% of Google's total revenue.
(YouTube did $29.2 billion in revenue)
(YouTube did $29.2 billion in revenue)
YouTube founders Chad, Steve, & Jawed are part of the PayPal Mafia a group of former PayPal employees and founders who have since founded and/or developed technology companies like:
• LinkedIn
• Yammer
• Palantir
• SpaceX
• Affirm
• Tesla
• Slide
• Kiva
• Yelp
• Yammer
• Palantir
• SpaceX
• Affirm
• Tesla
• Slide
• Kiva
• Yelp
Learning lesson:
Often times the first thing you build won't work.
But, if you:
• Go against the grain (in this case, going broad vs going niche)
• And double down on what works
You can pivot your way to startup success.
A 🔑 lesson for anyone starting their own business.
Often times the first thing you build won't work.
But, if you:
• Go against the grain (in this case, going broad vs going niche)
• And double down on what works
You can pivot your way to startup success.
A 🔑 lesson for anyone starting their own business.
And if you are starting your own biz, check out doola.com
@doolaHQ helps you launch your LLC from anywhere in the world.
It allows you to do what you do best (talking to users, building product)...
... while doola handles the rest (formation, banking, and taxes).
@doolaHQ helps you launch your LLC from anywhere in the world.
It allows you to do what you do best (talking to users, building product)...
... while doola handles the rest (formation, banking, and taxes).
Hope you found this thread helpful and enjoyed it. If you did:
1. Follow me @ArjunMahadevan for more stories about how billion-dollar businesses got off the ground.
2. RT the first tweet below, if you can, to share this story with a friend who uses YouTube.
1. Follow me @ArjunMahadevan for more stories about how billion-dollar businesses got off the ground.
2. RT the first tweet below, if you can, to share this story with a friend who uses YouTube.
https://twitter.com/ArjunMahadevan/status/1668256826926694400
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