How Wen-Wen Lam Sold Her $100M Revenue Startup During Covid and Became a Top VC
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How Wen-Wen Lam went from COVID crisis to $100M revenue to investing in AI
In the latest episode, we're excited to have Wen-Wen Lam, former founder of NexTravel and formerly a partner at Gradient Ventures, join us to learn more about her story. Wen-Wen takes me through her entrepreneurial journey, from her early days at LinkedIn to founding and scaling NexTravel to $100 million in bookings before the COVID-19 pandemic disrupted the travel industry.
Wen-Wen provides invaluable insights into the challenging process of being acquired and selling a company during a crisis. She walks us through her strategic approach, including compiling a list of potential buyers, pitching the acquisition, and navigating the intense psychological pressures involved which led to the acquisition by Travelperk in 2020. She also discusses the transition into venture capital where she focused on consumer applications of AI. Wen-Wen shares her unique perspective on identifying promising startups in these spaces. All in all, a great show of resilience, adaptability, and passion.
Here's what you're in for:
- 00:34 - Background and path to founding NexTravel
- 06:59 - Scaling NexTravel to $100 million in bookings
- 10:45 - Impact of COVID-19 and the decision to sell the company
- 16:02 - Strategic approach to running an acquisition process
- 24:44 - Joining Gradient Ventures and her transition into VC
- 32:00 - The rise of chatbots and their appeal to younger generations
- 37:02 - The power of unique and funny content
ABOUT WEN-WEN LAM
Wen-Wen Lam is a seasoned entrepreneur and investor, just having left her role as partner at Gradient Ventures, an AI fund. Before joining Gradient, she founded NexTravel, a corporate travel booking platform that scaled to over $100 million in bookings before being acquired by Travelperk during the COVID-19 pandemic.
Wen-Wen's entrepreneurial journey began at LinkedIn and she has also worked with the founders of MySpace at Slingshot Labs, providing her with unique insights into building successful startups, fundraising, and operating in rapidly evolving industries. Her resilience and strategic approach allowed her to navigate the challenges of acquiring and selling a company amid a crisis.
With her multifaceted career, Wen-Wen brought a valuable combination of operating experience and investment acumen as a partner at Gradient Ventures, focusing on investing in areas like chatbots, the creator economy, and social AI applications. What will Wen-Wen be up to next? Connect with her to find out soon.
Connect with Wen-Wen on:
- Linkedin: https://www.linkedin.com/in/wenwen/
- X: https://x.com/wenwen
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