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story by Hardi Meybaum
Stanford Engineering
European Entrepreneurship & Innovation
1/23/2012
@hardi_meybaum
@grabcad
12/2009 - The first order
Lesson learned #1: don’t give up after first failure
01/2010 - The first $ order
01/2010 - The first $ order
Lesson learned #2: celebrate victories - earned $25,
celebration dinner $60
02/2010
How to get more engineers
to work on orders?
02/2010
Quit a day-job,
week before 1st child was born
Lesson learned #3: have a very very understanding wife
06/2010
Raised a first seed money
to build a CAD Library
Lesson learned #4: raising the money from Europe is difficult and
expensive
08/2010 - launched Library
Lesson learned #5: build a minimum product
grabcad.com/library/bobber-bike-1
09/2010 - Meet Terry
Lesson learned #6: talk to customers
grabcad.com/terry.stonehocker
10/2010 - from static Library to
community
Lesson learned #7: learn how others innovate
10/2010 - moved to Boston
Lesson learned #8: everything is not like it appears
Lesson learned #9: you are in or out, no middle choice
booked this room for 3 months but got that one
12/2011- raising money in US
‣200 investors, advisors, customers .. in 3 months
‣1 investor partner meeting and a no
Lesson learned #10: talking to people gives you lot of great feedback
Lesson learned #11: raising money in US is difficult
02/2011 - what is this?
02/2011 - lets through it out there
Lesson learned #12: you are not the smartest person out there
03/2011 - joined Techstars
Lesson learned #13: learn from other entrepreneurs
05/2011 Challenges
grabcad.com/challenges
05/2011 - Challenges
Lesson learned #14: experiment
05/2011
Lesson learned #15: A/B test
started A/B testing
06/2011 closed Seed Round
7 angels
Lesson learned #1: don’t give up after first failure
(remember the no from Partner Meeting?)
12/2011 - Remember Terry?
Lesson learned #6: talk to customers
now works for top customers in mfg industry
grabcad.com/terry.stonehocker
1/2012 - Series A
Lesson learned #16: read this blog - www.forentrepreneurs.com
$4M from inside investors
and most important
Lesson learned #17: the TEAM matters the most
Lesson learned #18: find people you enjoy working with
Lesson learned #19: find people who want to learn and develop
grabcad.com/about
story by Hardi Meybaum
Stanford Engineering
European Entrepreneurship & Innovation
1/23/2012
@hardi_meybaum
@grabcad