Soonicorns Sessions 4 - Nichel Gaba of PDAX
EPISODE INTRODUCTION
PDAX’s Nichel Gaba joins us in this episode to share their milestones in PDAX that led them to raise Series C. From the perfect timing to the big changes he had to make, Nichel will talk about all of the factors that eventually led to the success of PDAX. He will also share the challenges that he had to go through given PDAX’s rapid growth and the mentors that guided him along the way. Nichel will also share what is in store for PDAX over the next few months.
GUEST LINKS
Follow Nichel Gaba on LinkedIn .
Download the PDAX App on the App Store, Google Play, and Huawei App Gallery.
EPISODE TOPICS
[3:07] PDAX’s Soonicorn Journey
[4:59] PDAX’s Key Milestones
[8:30] PDAX’s Product Market
[11:18] PDAX’s Perfect Timing
[14:20] PDAX’s Funding Journey
[17:31] PDAX’s Biggest Challenges
[24:38] The Scaling of PDAX
[28:21] The Type of People at PDAX
[31:46] Nichel’s Mentors
[35:59] The Funding / Investor Process
[39:19] The Funding Timeline
[41:57] What Nichel Looks for in Other Startup Founders
QUOTES FROM THE EPISODE
“Timing is not an external factor. Timing is a product of being prepared and anticipation.”
“If you align interests with your employees by making them owners and partners, not just employees, then your incentives will always be aligned.”
“In the path to growing, its not the founder doing more, its the founder doing less. The founder should be able to delegate tasks well.”
“If you can’t find what’s wrong with your company, then it’s probably you.”
RESOURCES MENTIONED
JARGON USED
Series A - In Series A funding, investors are not just looking for great ideas. Rather, they are looking for companies with great ideas as well as a strong strategy for turning that idea into a successful, money-making business. For this reason, it's common for firms going through Series A funding rounds to be valued at up to $24 million (source: investopedia.com)
Series B Funding - Series B rounds are all about taking businesses past the development stage. Companies that have gone through seed and Series A funding rounds have already developed substantial user bases and have proven to investors that they are prepared for success on a larger scale. Series B funding is used to grow the company so that it can meet these levels of demand. Most Series B companies have valuations between around $30 million to $60 million. (source: investopedia.com)
Series C Funding - In Series C rounds, investors inject capital into the meat of successful businesses, in an effort to receive more than double that amount back. Series C funding is focused on scaling the company, growing as quickly and as successfully as possible. The median pre-money valuation for Series C companies is around $68 million, although some companies going through Series C funding may have valuations much higher. (source: investopedia.com)
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