How young outsiders changed the shipping industry by finding product-market fit again and again | Laura Behrens Wu (Shippo)

Laura Behrens Wu is the Founder & CEO at Shippo, a company that has raised $100m+ and was last valued at $1b in 2021. Shippo provides an API and dashboard that makes shipping easy for e-commerce businesses, marketplaces, and platforms. Prior to starting Shippo, Laura graduated from Harvard University, and was heavily influenced by a short internship at LendUp, which exposed her to Silicon Valley and startup culture. 

In today’s episode we discuss:

Shippo’s pivot-stricken origin story

Finding product-market-fit, again and again and again

Laura’s unique take on founder-market-fit

Advice on talking to users

The 3 Horizons Framework for prioritizing resources across a core business and longer-term bets

The email Laura sends every Sunday because of Frank Slootman’s advice

Referenced:

Amp It Up by Frank Slootman: https://www.amazon.com/Amp-Unlocking-Hypergrowth-Expectations-Intensity/dp/1119836115

Expedia: https://www.expedia.com/

FedEx: https://www.fedex.com/

Frank Slootman: https://www.linkedin.com/in/frankslootman/

Jerry Colonna: https://www.linkedin.com/in/jerry-colonna-reboot/

Josh Koppelman: https://www.linkedin.com/in/jkoppelman/

Khalid Halim: https://review.firstround.com/the-science-of-speaking-is-the-art-of-being-heard

LendUp: https://www.lendup.com/

Shippo: https://goshippo.com/

Shopify: https://www.shopify.com/

SMBs: https://www.fool.com/the-ascent/small-business/articles/smb-business/

Stripe: https://stripe.com/

UPS: https://www.ups.com/us/en/global.page

70/20/10 rule from Google: https://www.itonics-innovation.com/blog/702010-rule-of-innovation

Where to find Todd Jackson:

Twitter: https://twitter.com/tjack

LinkedIn: https://www.linkedin.com/in/toddj0

Where to find Laura Behrens Wu:

Twitter: https://twitter.com/LauraBehrensWu

LinkedIn https://www.linkedin.com/in/laurabehrenswu

Personal website: https://laurabehrenswu.com/

Where to find First Round Capital:

Website: https://firstround.com/

First Round Review: https://review.firstround.com/

Twitter: https://twitter.com/firstround

Youtube: https://www.youtube.com/@FirstRoundCapital

This podcast on all platforms: https://review.firstround.com/podcast

Timestamps

(02:36) The Shippo origin story

(06:57) Why they pivoted into Shippo

(11:01) How they got their first customers

(13:27) The role of timing in Shippo's early success

(14:40) The value of being an outsider

(17:49) When founder-market-fit is and isn't necessary

(19:07) The path to product-market-fit

(22:06) What kept the Shippo team persisting

(24:41) Advice on talking to users

(29:28) Shippo's fundraising journey

(34:26) Finding product-market-fit again and again

(37:54) The 3 Horizons Framework

(45:04) Shippo's culture and early team

(49:17) Hiring people you can learn from

(50:40) Laura's most impactful hires

(52:12) Frank Slootman's "Sunday Email”

(55:43) Laura's #1 piece of advice for founders

(57:34) The most memorable influences on Laura's career