The 1.01 Podcast
#7 Honey Mittal
Cofounder/CEO of Locofy AI and my former CPO Honey Mittal, discusses studying in the National University of Singapore on scholarship without even applying, lessons learnt from over 10 years of building and being CPO at 3 previous startups and now raising over $7M for Locofy.
Follow Wilson on Twitter at: https://twitter.com/WilsonLimSet
Follow Honey on LinkedIn at: https://www.linkedin.com/in/honeymittal/
Locofy - https://www.locofy.ai/
Show Notes
00:31 Growing up in India, Air Force dreams and a friend applying him for a NUS Scholarship
03:40 Earning $4/hour working at a gas station
04:01 Early Buildings at WeGo
06:15 Building great products but struggling with real monetizable problems
08:30 Working Nights/Weekends on SportMeNow balancing full time with WeGo
09:30 $30,000 raised leading to 5 years of runway and how the frugal mentality applies to Locofy with $0 marketing
10:40 Meeting Sohaib at WeGo, going over to Homage together and how he knew it was the right match to cofound Locofy
13:55 Burnout in 2021, wanting a 6 month break
15:05 Avoiding another marketplace idea
15:45 Ideation of Locofy, automation of front end code
17:15 Every friend wanting to invest on idea, raising $1M in 48 hours
18:25 Being confident in launching
19:00 Validation from friends and family
20:00 Everyone wants to build an app,
20:50 Best developer tools are never sold
22.30 Product of the day, week and month on Product Hunt. Viral wheel starting.
23:15 Why Open Beta versus a closed beta like Figma
25:10 Why keeping it free
26:10 Keeping an active slack community, reply messages within 2 hours
29:00 Engineers going from fans to joining the team
29:30 Long run goal of Locofy community
31:00 Raising $4M+ Seed 2 Funding, emphasis on adding talent, concept of scaling with early stage hires
36:00 Benefits of Angel Investing while day to day building
39:15 Focusing on company behaviour, remembering your why
41:55 Locofy in 1 year, 1000+ products built with Locofy
Cofounder/CEO of Locofy AI and my former CPO Honey Mittal, discusses studying in the National University of Singapore on scholarship without even applying, lessons learnt from over 10 years of building and being CPO at 3 previous startups and now raising over $7M for Locofy.
Follow Wilson on Twitter at: https://twitter.com/WilsonLimSet
Follow Honey on LinkedIn at: https://www.linkedin.com/in/honeymittal/
Locofy - https://www.locofy.ai/
Show Notes
00:31 Growing up in India, Air Force dreams and a friend applying him for a NUS Scholarship
03:40 Earning $4/hour working at a gas station
04:01 Early Buildings at WeGo
06:15 Building great products but struggling with real monetizable problems
08:30 Working Nights/Weekends on SportMeNow balancing full time with WeGo
09:30 $30,000 raised leading to 5 years of runway and how the frugal mentality applies to Locofy with $0 marketing
10:40 Meeting Sohaib at WeGo, going over to Homage together and how he knew it was the right match to cofound Locofy
13:55 Burnout in 2021, wanting a 6 month break
15:05 Avoiding another marketplace idea
15:45 Ideation of Locofy, automation of front end code
17:15 Every friend wanting to invest on idea, raising $1M in 48 hours
18:25 Being confident in launching
19:00 Validation from friends and family
20:00 Everyone wants to build an app,
20:50 Best developer tools are never sold
22.30 Product of the day, week and month on Product Hunt. Viral wheel starting.
23:15 Why Open Beta versus a closed beta like Figma
25:10 Why keeping it free
26:10 Keeping an active slack community, reply messages within 2 hours
29:00 Engineers going from fans to joining the team
29:30 Long run goal of Locofy community
31:00 Raising $4M+ Seed 2 Funding, emphasis on adding talent, concept of scaling with early stage hires
36:00 Benefits of Angel Investing while day to day building
39:15 Focusing on company behaviour, remembering your why
41:55 Locofy in 1 year, 1000+ products built with Locofy