Seed-DB — Reflections on 2 years after launching

Two years ago today, on Wednesday, July 25th, 2012 I published a blog post that officially launched Seed-DB. I had been working at it since March 2012, and though it wasn’t 100% ready to launch I was able to push it out the door.

Since launch, Seed-DB has grown from >1300 companies to >4000 companies, from >100 accelerators to >200 accelerators, and from >$1billion to >$5billion in funding tracked.

What does that mean for Seed-DB today? I just checked Google Analytics to check the stats. In the last six months Seed-DB saw:

  • >34,000 user sessions from:
  • >20,000 different users
  • >118k pageviews
  • >5minutes spent per session
  • 59% of users were new

I’ve spent the last two years constantly adding more data, more features, talking to founders of companies and accelerators, and even a reporter or two. It’s been an interesting journey and I wanted to share some reflections on what I’ve learned.

#1: You CAN teach yourself to code in your spare time

Seed-DB was the first web application I had ever built. It was the first time I’d:

  • used Python for something other than a simple script
  • really used a DVCS (specifically Mercurial/Bitbucket)
  • installed/customized a Bootstrap theme
  • implemented jQuery plugins
  • and many more similar new tools…

While I had an engineering background, it was in aerospace/nuclear and even the projects I coded for my classes (in Matlab!) were over ten years in my past. I had picked up an O’Reilly book on Python and had created a few Python scripts the previous year, but without a project I didn’t really learn very much. By following example code, carefully reading error codes, reading more documentation and asking questions on StackOverflow, I learned everything I needed to build Seed-DB.

Creating something new from scratch is fun, and can keep you motivated despite mountains of problems. As long as you’re willing to do the hard work, it is possible to teach yourself to code. Think of something that you really want to create and just start building it.

#2: You CAN thread the needle

I just looked up and found that my very first commit to the Seed-DB codebase happened on March 27, 2012, so I built Seed-DB in my nights/weekends over the course of just four months. And I didn’t think it was really ready to launch. (I had to keep reminding myself of Reid Hoffman’s famous advice.)

But I was rushing to complete Seed-DB in time for some fairly big deadlines. I live in London and the London 2012 Olympics started on July 27th, so I committed to myself that I would launch Seed-DB before then. (My wife and I had family in town for it and tickets to a bunch of events… I HAD to launch before the Olympics started.) Launching on the 25th was literally the last day I wanted to launch, so I just made it in time.

Just after seeing Jess Ennis, Mo Farah, and Greg Rutherford all win gold for Team GB! (My wife is just a few weeks away from giving birth.)

Another more important deadline is that my daughter was due in early September. I had a ton of travel for work between the end of the Olympics and her due date, so there wasn’t a realistic option to launch later. (She arrived a couple weeks early, so this was an even wiser choice in hindsight!)

Me and my daughter (at a few months old)

Needless to say, launching created a lot of new non-coding work: responding to entrepreneurs and program founders, congratulations and criticism, and fixing bugs. But somehow the launch was the biggest needle to thread, and once that was done everything else does seem easier.

I learned that it IS possible to thread the needle between what may seem like impossible obstacles.

#3: You CAN do more than you think

In the course of a month, I launched Seed-DB, had an amazing time at the 2012 Olympics, traveled all over Central/Eastern Europe for work, and watched my daughter being born. After launching Seed-DB, I was getting… quite a lot of feedback.

What I tried to do was commit to spending 30–60 minutes a day (often while my daughter was sleeping and my wife was napping) responding to queries, implementing small features, and making progress on bigger features (like the Seed-DB Investor Graph). I found that was absolutely key: I didn’t have to complete a feature or fully respond to e-mail each day: I just needed to make a little progress each day.

#4: Building useful things brings you opportunities

People respect people that build interesting things, particularly in the world of startups. In my case, I started building Seed-DB out of frustration around a couple of job opportunities that had fallen through. I realized that I needed to do much more work that I initially thought to drive my career to where I wanted it to go, and that I needed to build something.

By creating Seed-DB, I suddenly had lots of people approaching me… and interesting people that I wanted to know! It led to lots of interesting job opportunities, too, and directly led to me getting hired by Techstars this summer.

One of the big principles at Techstars is to Give First. At the time I built Seed-DB, I hated that founders were making important decisions based on anecdotal data and what programs the press chose to cover, instead of researching from data on a full directory of programs. In hindsight I see that by building the site, I was doing my part to give first by giving entrepreneurs an honest, data-driven view into accelerators around the world.

Giving first generates goodwill; building something generates respect. When I launched Seed-DB I had no idea how powerful these two forces were, but they have totally changed my career and life.

Joining Techstars

After nearly five years at Google, Friday May 30th was my last day. I’m extremely happy to announce that I’ve accepted a role at Techstars as Director, Techstars Vision.

I first started speaking with David Cohen, the co-founder and Managing Partner of Techstars, in the summer of 2009 when I was doing my first research on seed accelerators. Over the past five years, he and several others of the Techstars team have given me valuable feedback that I’ve used in evolving Seed-DB. As I’ve gotten to know the Techstars team, I was constantly impressed with the quality of the people I met, and started in my new role at the beginning of June.

What’s ahead — Techstars Vision
I’ve joined Techstars to build and lead Techstars Vision, a new Techstars product. One of the key aims of Techstars is to build a strong network to support startups, made up of founders, mentors, investors, and corporations. Techstars Vision fits into this by building a significantly deeper and broader network between corporations and Techstars companies.

There are two parts to Techstars vision. The first is helping our Vision partners truly understand the very early stage startup market, so they can best engage with it. We do that by doing deep analysis on early stage startups, examining trends in startups, and evaluating the overall seed market. The second is facilitating direct meetings, presentations, and engagements between corporate partners and Techstars startups. We hope that our Vision partners will turn into customers and BizDev partners of our Techstars companies, helping both sides succeed.

What’s continuing — Seed-DB
Seed-DB will not be changing at all; I will continue to maintain it as a completely neutral database of all accelerators and companies from those accelerators. Techstars will not be treated any differently than any other accelerator, particularly since I will continue to get funding data solely from Crunchbase. If anything, some of my work with Techstars Vision will align with Seed-DB and I’ll likely have more time to follow-up with the many e-mails I get around Seed-DB!

What’s behind — Google
It goes without saying that it was a very difficult decision to leave Google. I spent nearly 4.5 years on the same team, and in that time the team grew 8x and the revenue we managed grew 40x. (!) I’ve learned so much from my managers and Google’s leadership and culture and really value my time at Google. To this day, even with 50k employees, each week any employee can walk up to the mic at Google’s weekly TGIFs and ask Larry Page and his management team questions they really care about, no matter how hard-hitting they might be. That level of trust in employees and willingness to face reality will always inspire me. What I’ll miss most are my amazing colleagues; you know who you are.

Seed-DB: a month of changes

Seed-DB was launched on July 25th, and since then it’s been a fascinating ride. Here is the latest news on everything related to seed accelerators and Seed-DB.

Follow Seed-DB on Twitter

Seed-DB now has a Twitter account: @GoSeedDB. Follow it to get all of the latest updates and announcements on the site. Like this newsletter, it will be low-traffic with just important updates for startups, accelerators, and investors.

Y Combinator Demo Day — public/stealth analysis

Some accelerators (like TechStars) publicly announce all of their companies at their Demo Days; while startups in other program (like Y Combinator) only publicly announce when they’re ready. Y Combinator’s Demo Day is taking place on Tuesday, August 21st.

In this years’ Y Combinator Summer 2012 class, there are 84 startups. As of today (Monday, August 20th), 50 of these startups (60%) have already gone public. I would expect another 10–15 startups to go public on Demo Day, leaving 20–30% of the startups to go public at some point in the future.

This past month on Seed-DB

I’ve focused effort on Seed-DB in the last month on two main themes:

  • improving breadth and quality of data
  • bug fixes in the application

In less than 30 days, the number of companies in the database has increased 25% to over 1600 companies. VC funding tracked has also increased by about 25% to over $1.28billion. And the number of jobs also increased 25% to over 3700 jobs created. Thanks to lot of feedback from accelerators and startups, I’ve cleaned up the data sources to improve the quality of data on Seed-DB, too. (There’s a link on every page where you can get in touch with me if you have data to correct!)

One problem with articles like Jared Konczal’s in Forbes is that the data in Seed-DB is still very preliminary; there are many gaps. I’ve tried to make these clear; users can now see what startups are associated with Crunchbase pages (and thus I’ve able to get funding/employee data) and which startups don’t have this data.

Finally, by launching and getting valuable feedback from a number of people I’ve identified and fixed a number of bugs in the application. Thank you to everyone that’s reached out to me with corrections.

Important upcoming feature

The biggest upcoming feature is an application deadline tracker. I’ll be adding a column to my list of accelerators to highlight programs that are open for applications. I hope this will help startups find accelerators that they might not otherwise know about.

Seed accelerators in my list will be able to send me the date applications open and close, as well as a link to their application page. If you run a seed accelerator, please e-mail me and I’ll add you to my announcements list once this functionality is ready to go.

Advice for seed accelerators

There are a few recommendations I have for seed accelerators everywhere:

  1. Make it easy to find your startups; a portfolio page or something similar. (You’d be surprised how difficult it is to find startups from some programs.) If you can’t promote your startups on your own website, why are you doing it? Ideally categorize them by class.
  2. Get startups to create a Crunchbase entry, and at least ensure they add the funding they got from your accelerator.

Thanks for listening; and be sure to follow @GoSeedDB!

Your go-to London Olympics form guide

I’m really looking forward to the London 2012 Olympics. But if you’re like me, you only have half a clue as to who’s been performing well in a couple of sports at best. And there are over 300 medals being awarded at this years’ Olympic Games.

I recently received a forwarded e-mail from a guy named James Hingston that says this:

Dear all,

Prompted by Richard, and my own desperate fanaticism, I’ve spent the past year putting together a complete form guide for the London 2012. The idea is that for any event… even the really random ones… you can dip in, get a solid idea of the form of athletes and teams coming into the Games, as well as some overviews on developments and changes that have taken place in the sport.

I’ve ended up developing it into a reasonably complete and semi-professional looking document (in for a penny, in for a pound) and so would not only encourage you to use it, but, if you think it’s any good, please distribute it as widely as possible amongst your friends and colleagues.

Many thanks as well (because she’ll kill me if I don’t credit her) to Lindsay for helping proof the document. It’s been designed so that you can dip in and out and use it as a reference guide — you don’t have to read all 184 pages…. She did.

Cheers,
James

This is the link to the document (http://bit.ly/OlyData) so that you can read/download/print it at your leisure.

(I will say that from the little I do know of various sports his medal predictions are a fair bit off, but the data he compiled is absolutely amazing.)

Get it here: http://bit.ly/OlyData