Before e-commerce giant Shopify went public in February 2015, CEO and cofounder Tobi Lütke had to answer to the venture capitalists and angel investors who supported the company. The key to doing this successfully, as Lütke said on an August episode of NPR’s “How I Built This with Guy Raz,” is outlining your expectations for the relationship at the start.
“I’ve always had a fantastic relationship with all the people who invested in the company, partly because I told them straight off the bat, saying, ‘I’m not going to pretend to know things I don’t know and I really hope you’re going to help me in this journey,'” Lütke said on the episode. “I think our relationship has always been, we were always on the same side of the table trying to build this thing.”
Lütke told NPR that Shopify’s investors were so in tune with the company’s performance “that they basically saved me from having to do a fundraising round.”
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