This executive built a $9.8 million app for moms— here's what she says are the keys to raising money, even when male investors say 'no.' (via CNBCMakeIt)
Kennedy, who quit her job at Bumblethat the key to her company's success has been knowing and understanding the void they're trying to fill."I think you have to be absolutely dogged in your determination for what you're trying to do," says Kennedy, whose app has received investments from companies like Ashton Kutcher's Sound Ventures, Female Founders Fund and Index Ventures.
"They weren't even an option because I knew [the motherhood] market inside and out," she says. "I had done my research. I knew the stats. I knew the data, and I knew the opportunity."At the start of Peanut's launch in 2017, Kennedy says, the market for motherhood apps was almost nonexistent. "The products that were out there were not very good," she says. "From a tech perspective, there wasn't anything.
While studying the conversations that were taking place on the app, Kennedy noticed that love, intimacy and fertility were popular topics. "It was from women who were experiencing secondary fertility," she explains. "So they had a baby however many years ago and they were trying to have their second or third.
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