They had two weeks of runway left and are now worth $1.5b – Loom Co-Founder and CTO Vinay Hiremath
Growing a company to 14 million users and a valuation of $1.5 billion should be cause for celebration, but, like so many founders, for Vinay Hiremath, Co-Founder and CTO of Loom, it’s difficult to enjoy your successes. In fact it’s the failures that tend to stick with you.
Loom, a video communication tool for businesses, wouldn’t be here today if Vinay and his Co-Founders hadn’t had their ‘sliding doors’ moment which revealed what they should be building right before they were going to have to give up.
“Half the battle is figuring out what the problem even is, right? What pain points do people actually have? As you’re pivoting, you end up finding something that works, and maybe it doesn’t line up with your hypothesis perfectly, and usually it doesn’t make any sense. And if you see traction, that’s the point where you hop on and say, Okay, I’m here for the ride.”
And what a ride it’s been. Most founders would be ecstatic if they hit one macroeconomic trend – Loom hit four or five, back to back. But the problem with phenomenal growth is the human cost: the toll it’s taken on the team, on the engineers, on Vinay’s mental health. Is it worth it?
“Every year or two years, you’re faced with some situation where you’re like, is this worth it? Like, am I the right person? I wish I could say that it gets easier. But for me, it really hasn’t.”