Prix was born in the spring of 2016. It was a crazy and emotional time. My girlfriend and I had our first child, Julius, on February 26 and I had taken three months of paternity leave from iZettle.
My work on Prix began during those first few weeks. While Julius slept I dreamed up the concept and pitch-deck for a new venture. Lulled into comfort by the baby sleeping 20 hours a day I was confident combining a startup with a young family wasn't going to be as hard as everybody said it was. Naivety often masquerades itself as courage .
See that first investor-deck here.
The vision for Prix came from a synthesis of two areas of interest. Firstly, my focus at iZettle on solving the biggest pain-points of small businesses. Secondly, a fascination with machine learning and the fantastic success of Alpha Go in beating Lee Sedol at Go.
Why, I thought, couldn't pricing be fully automated to optimise for efficient allocation between supply and demand. Why couldn't Uber surge-pricing be applied to almost anything that had dynamic supply and demand? What would the world look like if we can get small businesses an extra 10% of revenue?
So I built a prototype together with Galina Shubina, an ex-Googler I knew and trusted. And soon afterwards came into contact with John-Paul Clarke who became my co-founder. A month or two later I hired an intern to work with me on developing the product.
On this prototype, a strong story and team, we were fortunate enough to raise 12 months worth of funding from Speedinvest, Blue Lagoon and a host of angels. See Part 2 to find out what happened (humble-click-baiting)!