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HomeUncategorizedSkio (YC S20) – Subscriptions for Shopify, ReCharge Migrations Is Hiring

Skio (YC S20) – Subscriptions for Shopify, ReCharge Migrations Is Hiring

What we do

We help brands on Shopify sell subscriptions (+more in the future).

Company health

  • Founded: 2021
  • Funding stage: Seed ($8.4M)
  • Revenue stage: Series B ($5-10M annual run rate, 97% margins)
  • Team size: 37
  • Net gain/loss per month: close to profitability 🙂

Ways we stand out

  • “Regiciding” a $2.1B incumbent with PMF (ReCharge). 90% of our customers come from ReCharge.
  • Transaction fee business model (1% + 20c on every order).
  • One of the best times to join in terms of risk/reward (post-PMF while still being pre-series A). Our 409A is still relatively low meaning options can be early-exercised cheaply (great for saving on taxes). QSBS still applies (also great for saving on taxes).
  • Solo-founded. Generally speaking, solo-founded companies can give more equity and that’s what we do here. We believe very much in hiring 1 great fit over 3 good fits and giving the 1 great fit more equity.
  • Backed by Y Combinator (if investors matter to you).
  • D2C/Shopify app ecosystem is low tech. No competitors with strong engineering teams (it’s basically smurfing). Lots of low hanging fruit.
  • Flat org structure (with leads/comprehension-first titles). Good read on this here.
  • Minimal meeting culture. Make reversible decisions quickly. Make irreversible decisions less quickly. 15m meetings instead of 30m meetings. Good read on this here.
  • Big long-term vision for building network effects.
  • Inspired by Netflix culture. Think of us like a startup/high-upside version.
  • Trillies, not billies. Unicorn means nothing. We aim for kermit ($1T+ valuation).

Values

  • Integrity. Always act like someone’s watching.
  • Agency. We look for drivers over passengers (Frank Slootman). You run through walls to get things done & question how things can be better instead of going with the flow (too many people who go with the flow and we’re going to be in a bad spot in 10 years).
  • Grind. We work long hours to be the best at what we do.
  • Hats. Wear many hats. No job is not your job.
  • Intent. Assume good intent (esp. w/ written communication). We’re sensitive without walking on eggshells.

Great traits

  • Really good at something with high skill ceiling. Poker, piano, gaming, sports, past startup/project, anything.
  • High delta in circumstances & outcome. It’s a pretty strong signal when you’re able to do much better than most people in your shoes would do.
  • Adventure-driven. We’re here to build a legendary company & make some fun memories (+hopefully lots of money).
  • Similar sense of humor. We’re rekking a $2.1B, 9 year old incumbent and it’ll be more fun if you think it’s fun 🙂 It’s pretty much trolling on a business level.
  • EV-based decision-making. You look at how much X will help Y, the number of Y, and estimate how long X will take when deciding what to work on.
  • Autonomous. Can take vague requests and get them done without needing too much help.
  • Apolitical. Culmination of many points above. If you’ve experienced a political company culture and it killed you inside, then that’s great (will do our best to make sure this never happens here).

Deck

Deck

Why bet on the founder/me (Kennan)

A big part of joining a startup is betting on the founder(s). With this in mind/to save you time, here’s some reasons to bet on me:

  • Track record of grinding less-bullshittable things:
    • Dropped out after 1 year to join Pinterest (pre-IPO in 2017). Leetcoded intern offers (Pinterest, Stripe).
    • Top 200 in League of Legends in North America (out of 100M+ globally) in 1 year.
    • Accepted to Y Combinator 1 month post-idea as a solo founder.
    • Got product-market-fit + raised a seed for Skio in 4 months post-launch. Did this solo (did all eng., sales, support, & fundraising).
    • 2M+ views YouTube.
  • High delta in circumstances & outcome. Did above with no personal safety net (started supporting myself in high school) and no rolodex (built my network from scratch with many cold emails).
  • Extremely EV-based decision-making. If something is uncomfortable, I’ll run straight at it. I also spend money in any way I can to save time and get more done.
  • Thick-skinned. I’m used to being flamed from my gaming days 🙂 This helps me stay composed in high-pressure situations.
  • Won’t tap out early. Many call it a day once they secure tendies. I’ll do my best to take Skio into the trillies (kermit).

What they’re saying

Dr. Parik Patel tweet

What we do

We help brands on Shopify sell subscriptions (+more in the future).

Company health

  • Founded: 2021
  • Funding stage: Seed ($8.4M)
  • Revenue stage: Series B ($5-10M annual run rate, 97% margins)
  • Team size: 37
  • Net gain/loss per month: close to profitability 🙂

Ways we stand out

  • “Regiciding” a $2.1B incumbent with PMF (ReCharge). 90% of our customers come from ReCharge.
  • Transaction fee business model (1% + 20c on every order).
  • One of the best times to join in terms of risk/reward (post-PMF while still being pre-series A). Our 409A is still relatively low meaning options can be early-exercised cheaply (great for saving on taxes). QSBS still applies (also great for saving on taxes).
  • Solo-founded. Generally speaking, solo-founded companies can give more equity and that’s what we do here. We believe very much in hiring 1 great fit over 3 good fits and giving the 1 great fit more equity.
  • Backed by Y Combinator (if investors matter to you).
  • D2C/Shopify app ecosystem is low tech. No competitors with strong engineering teams (it’s basically smurfing). Lots of low hanging fruit.
  • Flat org structure (with leads/comprehension-first titles). Good read on this here.
  • Minimal meeting culture. Make reversible decisions quickly. Make irreversible decisions less quickly. 15m meetings instead of 30m meetings. Good read on this here.
  • Big long-term vision for building network effects.
  • Inspired by Netflix culture. Think of us like a startup/high-upside version.
  • Trillies, not billies. Unicorn means nothing. We aim for kermit ($1T+ valuation).

Values

  • Integrity. Always act like someone’s watching.
  • Agency. We look for drivers over passengers (Frank Slootman). You run through walls to get things done & question how things can be better instead of going with the flow (too many people who go with the flow and we’re going to be in a bad spot in 10 years).
  • Grind. We work long hours to be the best at what we do.
  • Hats. Wear many hats. No job is not your job.
  • Intent. Assume good intent (esp. w/ written communication). We’re sensitive without walking on eggshells.

Great traits

  • Really good at something with high skill ceiling. Poker, piano, gaming, sports, past startup/project, anything.
  • High delta in circumstances & outcome. It’s a pretty strong signal when you’re able to do much better than most people in your shoes would do.
  • Adventure-driven. We’re here to build a legendary company & make some fun memories (+hopefully lots of money).
  • Similar sense of humor. We’re rekking a $2.1B, 9 year old incumbent and it’ll be more fun if you think it’s fun 🙂 It’s pretty much trolling on a business level.
  • EV-based decision-making. You look at how much X will help Y, the number of Y, and estimate how long X will take when deciding what to work on.
  • Autonomous. Can take vague requests and get them done without needing too much help.
  • Apolitical. Culmination of many points above. If you’ve experienced a political company culture and it killed you inside, then that’s great (will do our best to make sure this never happens here).

Deck

Deck

Why bet on the founder/me (Kennan)

A big part of joining a startup is betting on the founder(s). With this in mind/to save you time, here’s some reasons to bet on me:

  • Track record of grinding less-bullshittable things:
    • Dropped out after 1 year to join Pinterest (pre-IPO in 2017). Leetcoded intern offers (Pinterest, Stripe).
    • Top 200 in League of Legends in North America (out of 100M+ globally) in 1 year.
    • Accepted to Y Combinator 1 month post-idea as a solo founder.
    • Got product-market-fit + raised a seed for Skio in 4 months post-launch. Did this solo (did all eng., sales, support, & fundraising).
    • 2M+ views YouTube.
  • High delta in circumstances & outcome. Did above with no personal safety net (started supporting myself in high school) and no rolodex (built my network from scratch with many cold emails).
  • Extremely EV-based decision-making. If something is uncomfortable, I’ll run straight at it. I also spend money in any way I can to save time and get more done.
  • Thick-skinned. I’m used to being flamed from my gaming days 🙂 This helps me stay composed in high-pressure situations.
  • Won’t tap out early. Many call it a day once they secure tendies. I’ll do my best to take Skio into the trillies (kermit).

What they’re saying

Dr. Parik Patel tweet

Read More

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