How I Sold My Start-Up To Lululemon For $500 Million
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- Опубліковано 5 вер 2024
- Meet Brynn Putnam. The CEO and founder secured $3 million in venture capital to fund her tech-based fitness company MIRROR on the same day that she gave birth to her son.
In the summer of 2020, Putnam sold MIRROR for $500 million to Lululemon. The pandemic has been good for business. MIRROR ads are plastered across New York’s subway, airing on TV and clogging up social media channels.
But selling a company for half a billion dollars is just a small part of her story and frankly, not even the most interesting.
There are three numbers to watch out for in this story. $15,000: The amount Brynn had in her savings when she quit ballet. $3 million: Her first outside investment. $500 million: The amount she sold MIRROR for in 2020.
Here’s how Brynn Putnam built a company worth half a billion dollars in just two years.
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How I Sold My Start-Up To Lululemon For $500 Million
She mentioned that she sketched up the business idea with her husband at home on the back of some napkins. What she didn't mention was that her husband, a grandson of the founder of Putnam Investments and a former banker at Lehman Brothers, just sold a tech startup (Quovo) for 200 million earlier that year (2019).
Everyone tells their story as if they came build an empire from crumbs so it can be inspirational if MAke It really told the real story no one would watch it
Hah! She dedicated lots of hard work for sure but a security blanket sure helps.
connections make the difference
Well I guess it really does make a difference if you surround yourself with successful people.
LOL
What a beast. Harvard, ballet, building a huge business and having kids. Legit
@@Ahmad-tv4vy what tf is non traditional ??? lmao
Yeah, I couldn't imagine having funds for Harvard, doing ballet, and having kids. I could only do the kids part. Am I inferior? I wanna be a legit beast
What has her partner done all through this? They should get credit as well
Bahahaahhaaha. Anyone who grew up doing ballet screams PRIVILEGE. A white Harvard educated woman is a success story? SHUT THE FRONT DOOR! How many investors would have opened those same doors for a Black person or anyone with a heavy accent?
@@bottle17528 what if she came home stressed asf and verbally abused him every single night and he never got laid anymore
Hearing that she went to those meetings by herself despite being told to find a male co-founder and at 9-months pregnant? She’s amazing and so inspiring 🧡 Women r such bosses
Nothing special here-she just looks like someone who grew up and was afforded privilege by the way she looks and her stature.I bet most people from the ghettos or the Bronx cant secure such financing
@@goldenboyi1989 why are you bringing down a woman and her achievements. Shame on you!
@@chelseagirl278 she grew up with privilege and just look at her.Take a person from the Bronx with exactly the same idea and make them ask for funding.I can GUARANTEE you that they will get ZERO Funding
@@goldenboyi1989 Yes, she grew up with privilege. The entire game of startups is pretty much limited to folks from a tiny sliver of society. Just like the winter olympics. Still the top skiers or hockey players are still doing something exemplary. So is she.
@@goldenboyi1989 did u watch the video? Sure she may have more “privilege” than someone on the streets but she found a cheap place to rent, had an idea, built that idea into a product with her hands, was told to find a guy to do it and still went to an intimidating meeting with investors. She took $15,000 and turned into something bigger. As a woman I find this to be inspiring. Instead of being jealous and downplaying her success, maybe u should focus on working on yourself. It’s called scapegoating. Look it up
People also forget that coming from a privileged background means a lot more than just money. Her whole life she has been rubbing shoulders with other elite people. All the people in her parents social circles, at ballet, at Harvard. Those connections are invaluable when doing things like starting a business, trying to secure funding, etc.
Nailed it! They try to make it seem like, "anyone could do it". That's just not true.
you are of a privileged background, you can speak english and you live in the US. You are more privilged than at least 75% of the worlds population. Go do something with it
@@1234abcd12344 Yea no one else can do this now that she has done it.
I think we also underestimate the fact that being among such people and communicating with them helps one get an overview of the business world much quicker. While others need to figure out how everything works such people have the understating of it since the young age. But of course the effort is the main factor here.
Exactly!
I'm a Mirror owner since 2019 and believe one aspect that makes it so successful is the quality of the personal trainers they have hired. The ability to personal train from my home with TOP HIGHLY desired professional fitness stars was amazing before the pandemic and down right incredible once they restarted during the pandemic.
They knew that was critical which is why they took so long to be on the market. Its crazy how many business ppl don't understand the importance of QUALITY
Hi Bonnie, I am very curious and confused about what this Mirror does. It is like a mirror that you can see the trainer and yourself in it, and you both communicate with each other like in a video chat? Or is the trainer is a video that was previously recorded and you are just watching it and yourself at the same time?
Can you talk with each other? Please give some details? Thanks!
@@danl.4743 It's as close to in personal training as it can be = without being in the same room. There is a video camera working both ways so you see the trainer and the trainer sees you. You can also talk to each other. Totally LIVE and very personalized to your specific needs, as well as what equipment you have in your home. The trainer designs the program just for YOU! No pre-recording. Please ask me anything else that may be helpful.
@@bonnief181 Outside of the personal training sessions, do you do workout with Mirror on your own and does the Mirror do anything to help your own sessions? Also curious if the price not put you off? Could you not get similar training benefits elsewhere?
I do some live classes but I'm really not a class person - which is too bad because these classes are incredible. I just don't have the same motivation. The price put my husband off but not me 😂. I bought this before there were zoom classes - that being said, the Mirror classes are much clearer than zoom. If you pay money to take classes then you will find this cost effective - minus the initial investment! I just love what the Personal Training has added to my routine. @@jackng9797
She is an inspiration- no way to downplay her success. She is incredible
Definitely will say she worked hard, but she had a WHOLE LOT of help. She was born to a ricm family with connections, went to Harvard and met more people with connections, married someone who works and has a family in the loan/funding business, and was in contact with several big money funders before even going public.
Not trying to downplay her, but take her success with a grain of salt. She is an example of a rich person, surrounded by other rich people, who used her contacts with rich people to get even richer. To all the regular people out there: it is not this easy.
@@pennsylvan3436 Not Impossible but definetly not easy, but i think from a multi generational standpoint it is possible for one generation to grow wealthy enough to smooth things out for the future generations.
@@pennsylvan3436 People are too gullible and lack the critical thinking skills to understand that. For the average person chances are slim to none to succeed without good support and stats will bear that out.
@@pennsylvan3436 thank you for the details. That is very important to understand this piece. Similar story with Bumble's CEO. UBER lucky girl.
@@tpop3723 yes exactly. You just need to look at the stats. People like movies and novels ..
Her father worked for sale division in Google and her husband is from old money. Such an inspiration for all privileged kids over there. 😂
Lol
I really wish her background was explored more. A throwaway detail in the beginning is that as a three year old she she jumped “on stage” at one of her parents’ dinner parties and “started to dance with the band.” Like... just what kind of money did she grow up with that her parents are hosting dinner parties at places with stages and can hire bands?!! That’s not relatable AT ALL, and that’s before you even get to the ballet school and Harvard education lol. I don’t doubt that she worked hard-clearly she did!-but this just illustrates that elites are very good at reproducing elite status. Meritocracy is more and more dynasticism in disguise.
I wouldn't go so far as to call it dynasticism, but it definitely plays into the hands of people that already have access to resources. Meritocracy doesn't guarantee success for the already wealthy, but it does stack the deck in their favor. Dynastic would imply guaranteed success, and that's simply not true.
Part of it is because the average person in the upper, middle and lower classes don't actually differ much in terms of raw intelligence. It's access to resources - connections, education, even nutrition - that are the main differentiator. You'll still get successful rags-to-riches stories, but we celebrate those _because_ they're outliers in every respect.
@@awijaya2116 I don’t think we disagree? There’s a reason I said meritocracy is “more and more” dynasticism-I don’t think it’s there quite yet, but increasingly so. Your point is well taken
@@austinbranion8699 Oh no I'm not disagreeing with you, just adding the reasons meritocracy isn't all it's cracked up to be before someone else picks that hill to die on.
Yes, agree. She almost certainly came from privilege. Just taking enough ballet lessons to get to professional status costs a fortune. And to save money as a dancer suggests she was living at home / her parents were supporting her. Dancers are paid a pittance. In saying that, she leveraged her opportunities, took risks, worked hard etc. But we don't talk about how many people from disadvantage work hard too. It's just that they're so far behind the starting line it's impossible to catch up.
@@awijaya2116 100%.
When you come from a well to do family, you can take risks and know full well you can land back on your feet if/when you fail. When you're helping pay for your father's chemo treatments, tuition for your youngest sibling, car payment, and rent you wouldn't risk taking some bs degree or take risks like making a startup.
@@Mo-zx4ez and most of them don't
@@Mo-zx4ez probablities are a thing m8 and there are lots of parameters that affect the total, and they aren't static. But you know an asteroid can also fall on your head right now.
Also survivor bias, don't just look on the ones succeeding, but also look on how many and how hard have failed, and what was their individual initial million of various stats sliders set to.
@@dataassassin280 Self - made? When you have 1.5 million trust fund? 🤣🤣🤣
@@ITISKONY how do you know she has a trust fund though much less a 1.5 million trust fund
@@dataassassin280 Bro, you're still asking. Everyone that knows her story knows this. 🤣🤣🤣
manhattan resident & harvard student... ding ding ding! she has a good ground to build from. no surprises there
$15k in savings yet please tell me how much in investments? How much mommy and daddy had?
sure, this probably helped a lot with opening doors, but the product has traction and an audience - you can't argue with that
Harvard has need based financial aid, the fact her father paid suggests that her parents income is >$150k/yr
Still impressive nonetheless. Wasn’t easy as 123. Interesting cause I know someone who owns one.
Ballet classes are expensive!
She's such a visionary, I loved whe she said "this is the moment, I don't wanna miss the opportunity"
Her opportunity started the day she was born into excessive wealth and didn't stop from that day. Education, marriage, connections - money, money, money. Difficult to fail, really…
The fact that she sold a sideways TV, with a mirror look business for 500 million is mind-blowing.
Amen
Maybe If i had her looks
That just sounds like it can be easily replicated and Lululemon spent some dumb money.
It must be nice to be White.
The tech for the iPhone all existed separately, the genius was in fitting them together to solve a problem people didn't know they had.
What a story, between hard work, risk, innovation, determination, right time right moment and passion, she did it. Hopefully her story will inspire many more me included.
Couldn't agree more 💯
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+1(4,0,8,),5,8,0,0,8,4,6.
Ironwoman
Another sheep.
yeah but kinda don't agree with risk
“How many stock videos will you need for this UA-cam video ?”
“All of them”
lol good one. the hospital bed / laptop one got me.
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+1(4,0,8,),5,8,0,0,8,4,6.
The proper answer is "Yes."
answer : YUS
I noticed that too
I love that she went straight for her Series A. Then Dev and straight to market. Smart!!
The most impressive part for me is that she gave a pitch to investors when she was 9 month pregnant. I can imagine how hard it was as a same woman. Powerful person!
Really enjoyed the interviewer's style...short, direct questions with a genuine tone and interest. It gives Brynn the opportunity to speak more and really navigate the course of the interview
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+1(4,0,8,),5,8,0,0,8,4,6..
Facts
Well explained I appreciate 🙌 I can't wait to get started because people are really making a lot of money from it nowadays
Real estate has been the best but crypto is better rough for fast wealth growth
That's correct crypto is better rough for fast wealth growth
I am very excited about the prospect of using cryptocurrency, not just as a money equivalent, but using it as a way to earn something as a result of doing some type of work.
Now, one thing I tell everyone is learn about real estate. Repeat after me. Real Estate provides the highest returns, the greatest values, and the least risk but you have to be patient
Current real estate prices aren’t high because they have been driven up by irresponsible speculation. As was often the case in the past. Prices have risen because a constantly increasing population with money to invest has been created - and continues to be created.
Interview: go deeper for me
Brynn: (smirks) continues answering the Q like nothing happened.
She’s truly an inspiration
timestamp
Sounds like from the get go she was both financially and technically backed up.
Sounds "very" like..but it's upon the one who seizes the opportunities at a decent time. Besides, luck is one of the many factors for one's success..
I really really really hate how these stories intentionally try to deceive us on why or how these people succeed. Notice how she threw out "$15,000" as how much she had in her savings account when she started this whole thing? What exactly do most people think when they hear this? They think "oh she started with so little money, I guess it just goes to show how amazing she was to pull it off! I guess anyone can do this!"
This is such BS. Her dad paid more than $50,000 per year for her to learn "something". She chose Russian... Newsflash guys, she and her family are the opposite of strapped for cash. She may have had $15,000 in her savings account, but her daddy has 1000x that much in his. The money in her personal bank account was her allowance, the actual funding came from daddy.
Why can't these people just admit how much privilege and help they got? Why mislead far more disadvantaged people into believing this BS story? What happens when someone poor "learns" from her story and tries to do the same thing? Instead of going to college with the aim of getting a decent paying job, poor kids with no help and no network think they can do what she did and lose their time/money crashing and burning because they never knew how much help she got. If you're rich and privileged, just be okay with that. Stop stroking your pathetic ego by inventing a rags to riches story. You got to where you are with a lot of help and that's okay because we all want our kids to have an easier life than we did and her dad or her grandfather probably worked hard to give her her privilege.
Sounds like you're making excuses.
by her family jew money and connections . Exactly
@@facemaskfrank2726 100% agree. I can only imagine how many had fall prey into the narrative that has been stirred up by this news business web series.
I'm just in awe of her really good nose job.
Lmao same
I had to stop the video a few times to check if it was the same person lmao
But that haircut is horrible 😞😞
Watching this made me not give up on the product invention I'm working on. I know I can make it work and I won't give up until I have it!
If a person studies a language at university they’ve got their future secured by their daddies.
Right, sure she's hard-working/thinking, but it doesn't hurt to know you always got a financial cushion/safety net and supportive family behind you.
@@00calimon exactly. You can take more casual risks and of course her daddy can connect her with the right people.
Yep when I heard Harvard I knew she came from a rich family especially when she said she did ballet and went to school for a language .. that’s the biggest rich girl degree... I’m not that impressed with her story since having wealth helped her tremendously..
I knew girls who went to school for dance. I was like yeah. 🥴
April Katie ..well clearly…dancing paid of incredibly well for this girl…
>
There are a lot of strategies to make tongue wetting profits especially in a down market but such sophisticated trades can only be carried out by proper market experts.
She appears to be well-educated and well-read I ran a google search on her name and came across her website; Thank You for sharing.
Her resume is mind blowing 😮just checked it out 😮😮..I really would give her a try
Why do these people never mention their parent's role in providing a safety net to take these risks? Russian Litature? really, nothing screams I have 15k in my savings and 1.5 million in my trust account more than that degree.
Edit: I think it is important to note with my comment that my intent is not to bash success but to instead complain about the lack of transparency a lot of these stories have. They are ignoring the foundation that allowed these people to achieve success. There is a huge difference between someone whose family can hardly feed them breakfast and they go on to achieve success through hard work. Contrast this to someone who quite literally wakes up knowing if she does nothing today she will still die loaded. It allows you peace of mind and the ability to focus that most people simply do not have time to do, due to other stresses and or pressures in their life. You can argue hard work but statistically growing up wealthy will result in being wealthy. Someone from an underprivileged background will have to work harder than the lady who knows failure just means another try in a month. Again, transparency allows people to compare and make better decisions, this video is just misleading, to say the least. I also think the onus is on the individual to highlight areas of their life that allowed them to achieve success and not brush past the very privileged background they came from that is typically most of the reason for their success.
When you grow up with a safety net, you don't know what it's like to not have one. Still, not everyone with a safety net works this hard (because of the safety net) as they are not under pressure to survive.....so, the safety net helped her, but she went above and beyond and KILLED it.
I get the silver spoon theory but in almost all silver spool cases, it kills a person's will to go out and hustle. This wasn't handed to her to manage. She had to fight and claw from the beginning.
If it was easy to start with money, why do so many lottery winners go broke ?
don't forget those harvard connections.
there are more variables involved to achieve success
She still had to work hard, I hate people who say things like this. People born with silver spoon in their mouth tend not to make much of themselves, she actually put a lot of effort in. Is like everyone glamourises being broke and making it from scratch. I don’t want that for my kids, I will give them a stepping stone and make sure they work hard to carry on the legacy
@@V12theGod agreed..she worked really hard for her success regardless of her connections..
Every day of my life I always regret selling my bitcoins 8yrs ago.
See how much its worth now.
You have to be calm
No one ever knew it would get this high.
@@claytonfaile7199 True you have a point.
Crypto is the future, trading crypto has
become a lucrative way of making money
Do you trade by yourself?
If I had known would have exchanged my wife for bitcoins
Having to grow up in Manhattan and one if her memories was the “dinner parties” her parents were having I tend to believe she had a good start in life. Amazing what she accomplished but let’s not pretend she started from Compton
It takes smarts
You make a valid point, however I say that her hard work and determination are far more contributing towards her success than the silver spoon she may have been raised with. Searching for and securing a cheap rental for the first studio, and doing the manual labour with her husband for the fitout, shows a level of work ethic and thriftiness rarely encountered by people who come from great wealth and self-given entitlement. Too often I've seen children of very wealthy people waste their opportunity to realise potential, because everything comes too easily.
@A Estes You can succeed from chaos or in chaos. You must make decisions to live away from people who tie you down. Even it be your family.
Amen sister
@@michaeljames6847 Just so you know. They have lot of poor people and public housing in Manhattan. Don't let people fool you when they say they are from NYC lol. And they are poor from every race. They rent can be $600 a month and across the street is $6,000 a month. NYC is weird like that. People from Compton can be successful too but they gotta be selfish to do it and hella focused. Btw hope ya summer fun safe and covid free bruh. Be we'll💪
A smart, hardworking, patient woman succeeding in the world is exactly what we need to see. Congratulations to her! People are a reminder that sometimes things work out, and it's worth the effort. Thanks CNBC, this was an awesome documentary 😊🙌🏽
A rich Ivy League girl from Harvard... hmmm🙄
Lots of practical skills like saving her allowance up to build a fitness studio.
Hard work yea, but all the opportunities fell in her lap.
No pitches, no seemingly endless failure to overcome.
Confidence is a helpful foundation from a financially secure upbringing
@@Ross_Embossed what's a male version of Karen called ? Any idea?
@@Ross_Embossed her husband also sold his business for 200 million right before she started hers. I'm taking away from her but, her previlege helped her a great deal.
Cool story, but I think CNBC can do better on their next feature. We’re tired of hearing about the trust fund babies who went to Harvard, acquired venture capital, and cashed out with millions.
Challenge yourself to find the millionaires that came from nothing. The ones who went to community college, or even dropped out. Find the winners that weren’t already on the easy road to nepotistic success.
None of these people were on an easy road to success. They’re just “easier” in comparison.
@@cm-15 Yes they were, why are "you people" soo delusional???? How detached from reality are you? She is a white attractive woman born in affluent Manhattan!!!!!! STOP insulting our intelligence, we are much smarter than you think, just dont have the resources/connections "you guys" generally do.
she started with 15,000. Thats not a trustfund baby.
@@KNEWERAADVERTISING Welcome to the world where everyone is born into a different situation. Entrepreneurship is incredibly hard and having "connections" is only a small piece of the pie required to be successful. Her being attractive and born in Manhattan is no way indicative of future success. There are plenty of broke attractive people.
@@subhan6956 No she did not start the business with $15k. $15k is what she personally had "saved up" it is not all the money that went into starting up the business. Her parents invested, her friends invested. The omitted things on purpose, phrasing is key. Stop being gullible please.
This gave me chills. What an amazing story
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God bless you for making this video.
Aaran I don't trade forex on my own since I don't have the time or experience , so I simply invest while my contract trader, Thomas Stuart Mark, manages my account and generates monthly income.
wow that lot of Money lucky you ,wish i can produce start ups too
what does Thomas really deal on ?
Paul he is a forex, stock futures, precious stone, trader he is a contract trader
An amazing story, Most times, it amazes me greatly how I moved from an average lifestyle to earning over $63k per month, Utter shock is the word. I have understood a lot in the past few years that there are lots of opportunities in the financial market. The only thing is to know where to invest.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or bitcoin and stocks.
I keep wondering how people earn money in financial markets, i tried trading bitcoin on my own made a huge loss and now I'm scared of investing more.
@@markconley3877 That won't bother you if you trade with a professional like *Mr Gary Mason Brooks* my coach, you may have come across him on interviews relating to bitcoin. He trades, manage trading account and offer mentorship program for clients who wish to become professional investors.
@@nyreggie You allow people to trade for you? that's interesting, I would love to learn, hope it’s safe?
@Peter Moore This is the Fourth time I'm seeing someone talking about Mr Gary as there are lot of testimonies about him, do you know him ? if yes , did you invest with him ?
I seen this mirror tech wayy before it was used for a fitness setup. I remember coding similar software back then for a bathroom mirror also using Raspberry Pi. But having the the idea to put it into this and finding an angle to sell it is pretty clever. I think that's the difference between us tech people and people who are visionaries like Steve Jobs or her, I did not see outside the box.
I wonder how she kickstarted the hardware, software and product dev. This video makes it look like a person with no background in technology can build a sophisticated tech product out of thin air. At least talk about how she did it.
I’m a startup founder with no engineering background but know what process I want. I’m still trying to raise and get out of the blocks
@@abrasionthermals9172 instead of this unhelpful comment you could have shown the timestamp in the video to back you up. No it didn’t
*** sells
If you have money, you can pay software engineers to create anything for you.
@@SwopLux i would love to hear your story
How does somebody with little to no engineering or coding experience just build a mirror like this? Where does one even start? This is impressive.
The same way Steve Jobs did it for Apple. He hired others and took credit for the company.
@@mikeyourbag8997 even if you can code more often than not if your a CEO or founder most of your job will be trying to avoid the burn rate. Also, I wouldn't compare her to Steve Jobs, he was ALWAYS hands on in the company he may not have built the software directly but he played a huge part in the font systems and especially in the UX/UI. In addition jobs was well known for making the company extremely lean and efficient by cutting so many pointless products.
With a perfect idea, you can outsource the skills needed to build. Being a founder is about having a vision, not necessarily tech skills.
@@brontec9769 So being a founder is about stealing the labor from others?
@@starkapoorz I think you misinterpreted my comment. Being a founder is about ideas and innovation, whether you have tech skills or not isn't always so important or relevant as we can see in this case. If you want to be successful and grow your business, skills will always need to be outsourced at some stage - or can you say that you are capable at managing every aspect of a business? It would be unrealistic to assume that and not a very smart management strategy. The best managers delegate and outsource. Nobody mentioned 'stealing' labour. I'm sure her team gets adequately compensated.
It's not explained here how she got $3m in seed funding. It's glossed over as if it's like taking out a credit card for $5k. It's quite an important detail to skim over, unless of course, you are trying to hide the fact that she got it because of her family connections, which would call into question how much of this was actually her success
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so u're downplaying the fact that she made a 500 million dollar product from $3 million in funds? whatever helps u sleep at night
@@joshuahuang07I believe they said $3m in round 1 financing.... Lots of details appear to be missing from the video
@@benj9372 Yeah she got 3 million in financing and all she had was a video of her product? lmao
@@nile7999 Actually that's a really good point. 3m dollars in seed funding with no proof of concept is genuinely baffling!!
I’m so proud of Brynn. I used to go to Refine (UWS location), and LOVED their classes. I went to a few of her classes (where she actually led the class) and I remember her classes being so hard but really awesome.
More of this please. More highlighting of women’s accomplishments and success in business.
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@A Estes she was smart and had a good education. Still barely anyone achieves such success in business in an equal position. Still very inspiring, not everyone needs to be from rags to riches.
Actually Bloomberg has a ton of these hot women who found multimillion-dollar companies videos. It's actually ridiculous and gross to be honest. They never interview any average women
lol white women
We are already in the big crash , inflation is a catastrophe. This CPI report is a colossal failure. To bring the housing market to a halt,the FED will have to pull all the stops . The unfortunate issues is that the other market are being decimated. If you want to stay green ,you have to rely on a lot of diversification.
Currently up 15% and being carful. Still a better deal than leaving it in a savings or checking account yielding 0-1 percent interest.
I’ve seen monitors built into mirrors, I’ve seen fitness app, and now that this is put together, i think why i didn’t think of this before. Genius.
You saw it in 2010?
Wow! This product is basically a reflective tv and she got 500mil for it? There’s really money out there to be made. Incredible
What a story! So impressed on how she built a mirror like that without technical background or coding experience. She knew what to do and executed beautifully 👏 Also, I would rather own her mirror as a fitness product than a peloton bike/other products. Feels much more interactive and the design is pretty cool.
"Allowing people to do- to grow, I think is really powerful"
This is the dialogue of a winner.
I love how they summarize the key numbers in advance of getting into the details. Thank you CNBC.
$125M+ in revenue and sold for $500M? Sounds like this could've been worth billions if she kept going at it. That's only a 4x revenue multiplier on a growing company.
Return is a more important indicator. The multiplier is usually put on returns
The company *could* be worth billions. It *could* also end up failing.
Some people have different motivations. Some want an exit that affords them the opportunity to enjoy the rest of life. Others enjoy the early stage startup life and use these exits as prestige builders for their next companies (aka serial entrepreneurs). Some want to see their product infiltrate the market so in depth that they don't care about selling; they just want the world to enjoy what they've created. The list goes on.
There's so many variables that go into deciding these things other than just $
Better sell for a small piece of a pie than later have a whole pie of nothing. (This could be a fad product)
Are you applying your website flipping calculations to a hardware startup? 😂
I love a success story, so congrats to Brynn. Sad though that she felt, despite her obvious success, the need to completely transform her face. She looked so nice and natural before.
What a woman boss, inspiring. She deserves all her success, congrats!
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+1(4,0,8,),5,8,0,0,8,4,6..
cringe comment. Would yo write "what a man boss.." ?
I’m very happy for her. It was interesting to hear the story of an entrepreneur who was born into wealth
Wealth, good looks, etc.
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😂😂
The hate is dripping......and i love it lol
I mean your not wrong about her being born into her relative wealth but shouldn’t you focus on how you can get better, as opposed to making excuses as to why others can do things that you can’t?
"Brynn Leigh Jinnett, a daughter of Doreen Ziff Jinnett and Robert Jefferson Jinnett of San Francisco, and Warren Lowell Putnam, the son of Karen Hunzicker Putnam of Boston and George Putnam III of Manchester-by-the-Sea, Mass., were married Saturday at the home of the groom’s father. The Rev. John H. Finley IV, an Episcopal priest, performed the ceremony.
The couple met at Harvard, from which they graduated.
Mrs. Putnam, 29, is the founder of Refine Method, a fitness business with two studios in New York. Until 2008, she was a professional ballet dancer and last performed with the Les Grands Ballets Canadiens de Montréal.
The bride’s father works in San Francisco for the sales division of Microsoft.
Mr. Putnam, 30, is known as Lowell. He is a founder of Quovo, a business in New York that provides financial analysis and advice for investors, advisers and portfolio managers.
The groom’s mother is the vice president for external relations at B612 Foundation, a nonprofit organization in Mountain View, Calif., that finds and tracks asteroids that may be on course for Earth. His father is the founder and the president of New Generation Advisors, an investment firm with offices in Boston and Manchester, Mass. The groom is the stepson of Kathy Zillweger Putnam.
The groom is a great-grandson of the late George Putnam, who founded Putnam Funds, the mutual fund company."
Just another story of the rich getting richer.
Wow, she is amazing! What a role model in so many arenas!
I love the questions being asked!!
A very average company, just a rich girl that got even luckier with a ridiculous exit valuation. Also 72m for just building a company with very basic product is mindblowing. Look up now and revenue is down by a lot. A mistake purchase by Lulu...
It easy to build when you have family to support you (money) and wealthy ppl as help with Network that reliable in Manhattan. Not inspiring instead it proves what generational wealth does for you Bc it allows you to dream and build on that.
Wow this is such an incredible story, I'm sure she'll go on to inspire many more - myself included!
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Success is not final; failure is not fatal: it is the courage to continue that counts. Business opportunities are like buses, there’s always another one coming.
Talking about opportunities investing in crypto currency now should be in every wise individuals list. In two to three years time you might be estactic with the decision made today
Truth, it is really profitable as an investment.
It’s fortunate that many of us are still confused about crypto currency while others are busy earning from it
Is never stressful when you're guided by a pro
I remember friends calling me crazy when I started investing in bitcoin now I shut them up with my 4 figures weekly returns.
If you go to Harvard to study Russian Literature, you come from a rich background.
"if your going to go to such an expensive college you might as well learn a skill like a language".... Yeah... Ok.. 🙄
treating college like summer camp 😭
I’m close to retirement and I own 2 homes. If I sell my primary home, I’ll get $100K. My plan is to rent a place for $1,400. Is that a good idea?
If you live in an area with strong population growth, you definitely should not sell the home and rent. Your home will be worth a lot more down the road. It's the best inflation hedge. If you sell it and take $100,000 cash now, inflation could make it worth half of its current value (in term of buying power) in maybe 5 years.
Only a couple of reasonably important pieces of information missing. How much is your mortgage and how far into it are you? If a 2 bedroom townhouse is downsizing, how in the heck are you only clearing $100,000 from selling your current house?
I’m 50 years old looking to diversify part of my savings say $250k into real estate but I hear it is not a good time to invest in Real estate. Can i get any idea on other options?
@@mooreleigh8928 I have my funds well diversified by using trade signals from my investment advisor Karen Marie Emma a US registered CFA who you might have heard about or seen in the CNBC news and tbh it's been a huge relief. Highly diversified portfolio, mind blowing earnings and little to no engagement at all on my part.
@@cristinabaker5292 Interesting.. I'd love to start moderate and maybe advance to aggress!ve. Do you just give her your money or copy manually? I have a full time job. And what does Karen Marie Emma charge for her services?
What an amazing woman. Feel like her mind would of made her successful no matter what she put her mind to
This would be amazing for televisits with healthcare providers
great idea
@@gidd thank you!
this idea is somewhat concerning. can you imagine a hacker that can enter your workouts & dr’s visits?!
@@MACNTOSFAM that's fair, I've done zoom visits during the pandemic though and it has gone well with the exception of webcams being grainy
@@FrankChouFinance Trust me if someone wanted to know your doctor's visits they would
the pandemic was the momentum for mir, when everyone is homebound. but it will appeal later to an audience that just want to work out and skip the social aspect of the gym. the other selling point of course is the mass market that it brings to trainers ... can't wait to see my trainer on there!
this mirror idea doesn't convince me - but i have my own projector screen at home. what Putnam realized, is that this pricey mirror would work for a lot of people who have just a tablet and phone. quite brilliant really because she had to think outside the box! very well done! my only regret is not having invested in her company ;)
She's just so cool to me. She had an innovative idea and she ran with it
This really inspired me. All this time I felt like my industry has been undervaluing my talents, so all I need to do is wrap my talents up into a really awesome service that is so good that it replaces the same companies that are turning down my job applications :)
inbox me your idea
Wow I never heard of the Mirror before and I have to say, Great concept, great product, great story. She has invented the iPhone of Fitness !!!!!! Amazing! This is what I thought in the early 2000's the internet could be like with a full interactive video classroom environment!
Her husband is also the founder of a company. It seems like he helped her a lot considering she knew no coding beforehand.
Thank you for highlighting this. Not to discredit her at all, but a lot of spokespersons for businesses never talk as much about the co-founders or people behind the scenes. It gives a false hope for people actually out here doing stuff alone, thinking they should do it all.
This is a video about a solo female co-founder of a company sold for $500 million dollars and the only comment you can think to add is about her husband? Seriously?
@@zoiebrent3623 solo co-founder? Say that again please
@@WLyons9856 👌🏽😂
@@zoiebrent3623 because behind every successful woman is a great man who held her hand and led her to success
She's brilliant and has done well for herself. But. Coming out of Harvard with zero student debt and being able to have enough money to set aside 15000 dollars in savings? I can only imagine how much other equally brilliant people could accomplish, given a similar level of privilege and access.
Coming out of Harvard with zero student - this tells you that she probably comes from a very rich family to start with as @
Austin Branion mentioned in a comment above.
yep, it's why I think they should have UBI...then you can free people up to start businesses and take risks knowing the rent is paid...then if you make over 100K? No more UBI.....
What she did rich or not was not rest on her laurels. She is innovative and exceptionally brave. What I see in front of me is a very clever and hard worker.
@@taniaahlfeldt3137 agree, to those who are given more, more is expected...
@@wowsuchcookie not necessarily. Harvard has need blind admission and very good financial aid for all. It does not offer merit scholarship, just scholarships based on need, with calculations based on income. Most Harvard grads (undergraduate) have very minimal student loan debt, if any.
The lady is total package. Good education, nice looking, polite speaking and insanely smart.
She was born into poverty. Her father overdosed on heroin when she was three years old. Her mother worked as a stripper and was never around.
And yet she climbed her way out of Hell's kitchen.
Truly inspiring.
Are you being sarcastic?
Lol
That’s amazing!! She’s an inspiration that more people need to know about
Totally!!
Great story! Congrats to her and her determination! God bless
Ok, she comes from a wealthy background. It shouldn't take away the fact that she had put a lot of effort and time in her business and made it financially successful. I give credit where it is due.
Totally. The 15000 in her saving account wasn't used to start her company. She start her company by raising funds, just as how most of start-up CEOs in U.S do.
@@ChrissySlora01 it does give the advantage of not having to work for a while, which in turn gives time to start a company. Much of the working class doesn’t have the time. However, she still deserves the credit as the most ambitious will make time.
This is one of the best videos I have watched today, thanks for the share :
The fact that I instantly wanted to buy this product when I noticed it in its first ad said it all. (At the core I'm a really skeptical person.) This background story was the icing on the cake. It was a great story. Now I really need to find a way to buy it in Sweden
Wow. Inspirational. I wish daddy would pay for my Harvard degree and tech startup. 15k. Please, what a joke.
Now this is a role model for girls. Not that fake bs on Instagram and TikTok.
That's my definition of a Badass WOMAN! Incredibly inspirational story.
Really??
This is so inspiring - what an impressive hustle game
Is it just me or the amount of ads in this single video is insane ? I get 2 times 15sec non skippable ad and then another 2 times 5sec ad. Is CNBC really that pooor?this is insane
use the brave browser
..no more annoying advts
Also if you have Android use UA-cam vanced
invest in youtube primum
She birthed a human being and secured 3 million in investment funds in the same day. Hats off.
Sounds like the baby daddy put up the 3m
Love this story so much. The storytelling was done really well too. Love this series. Privileged background for sure, but you can’t buy grit, determination and consistency. Love her story. Thank you!
What grit? What determination?? How delusional are you people???
Knew Era Maybe you’re just delusional.
What metrics or qualifications are you using to arrive at that opinion/assumption?
Great woman! An inspiration. Best advice? Don't keep cash. It is designed to fail. 3 BEST and surprisingly easy ways to double/hold your funds in 2021; Real Estates, Gold, who can guess the 3rd?
Has to be stock trading!!! Made my first million through it earlier this year as a newbie after I met a professional from a reputable firm... Retiring by next year with absolutely no fears!!
@@randolphwagner7658 Thats really impressive. Have tried doing that on my own without any luck for sometime now. Who is this professional you worked with please
@@calvinalvarado1073 "Martha Elizabeth Linsley", she was in the news when she revived Grumac company in 2018. You can look her up on the web to get more on her!
@@randolphwagner7658 Wow I know this pretty little lady. Met her once at a fundraiser in Dallas. Great speaker.
Stripping? Go fund me? Only fans?
I love stories about people who succeed for all the right reasons, Thanks for this,
That's so dope... I love the tech in the story! I made an infinity mirror before but not a smart one...Rasberry Pi for the win! Nice work lady!
The celebrity move was her best move. They promoted her business with influence with each stardoms followers.
I was so ready to write a heartfelt ‘Bravo!’ to this wonderful woman after viewing this clip.
Then I read she was just another privileged woman married into excessive wealth.
Difficult NOT to fail when you have all the odds in your favour.
I am seriously sick of the rich getting richer and actually thinking they are making this world a better place.
White women you left out
Mm.. another “started from the bottom” nepotism’ baby yes.. good for her, but I’d like to hear who the investors were and how they got in contact with her. Otherwise spare me with the Harvard accepted, Manhattan raised, “hardship” rhetoric.
Why? It's just a TV behind a pane of mirror glass. I can google "DIY TV mirror" and get how to guides from 15 years ago. Meaning there is prior work and nothing this company did is patentable.
I don't understand Peloton either, it's a bike, that's stationary, with a TV... that just like every other piece of home fitness equipment will be used once and then collect dust.
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Yeh... all this has been done before via gaming interactions if u think about it. Treadmill with a tv, bike work a tv. Reminds me of the Nintendo Wii really. You can do all sorts of sports on that!
I don’t like to workout at home so I never jump into the peloton or mirror bandwagon , even in this pandemic. There’s nothing more exhilarating than a live class with good instructors and music of course!
Really?
I’m on track to do this.. GOD BLESS 🙏🏾😭
Good luck to you!!
Best of luck 🙏🏼
🙏🏾💕
Keep going! Blessings to you girl
Thanks yall I still live in disbelief each day 😭🙏🏾💕
At 6:55 it is said she built the prototype with her husband and then at 8:30 while building it and refining it she was 9 months pregnant and single 🤔
I...n....v.....e...t....i...n....g..in..... B...i....t....c....o....i..n
V..i.a....W....h...a...t...s...a...p..p
+... 1.... 9... 0.... 4... 5... 8.
.. 5... 8... 3... 7... 7... 🇺🇸
I was a bit confused too, but I think she meant that she was pitching it alone. Later on she used the word "solo", I think solo founder or something like that.
Inspiring! The fact that she thought scaling even when her studio was successful shows great industry.
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She is from VERY wealthy family. Her story is literally “my rich parent did the business for me”
yes, they all in it toghether, clandesteins, usually though, they just steal or copy ideas from others, but hey, they are privileged and thus entitled to, right
Did you even watched the video?
@@chusoskever2649 There is no way she solely had $15K in savings...she comes from a wealthy Manhattan family. The 15K was play money. If that is the only savings you have, the stress and pressure would be unbearable. If the plan failed= all money gone. I am not saying she did not achieve and deserve but I think her wealthy background is downplayed for story purposes.
Her parents did help her on her path of success but saying all her hardworking and achievements are solely from the parents is a bit judgmental.... the parents financial status does not guarantee her success... or else every billionaire and millionaire heir are all financial successfully ? Deny her hardworking and achievements just because of her parents financial status sound like jealousy... We don't have to be relatable to every success person you know ?
Maybe she wanted to be on her own as long as possible and refused help unless absolutely necessary
This woman is clearly brilliant, just so impressed by this.
Mirror Mirro on the wall... who the?
Amazing story!
Wow what an inspiration! Amazing lady and awesome video!
Inspirational stuff!! Thank you for sharing this story!! She is soooo coool. Women are AMAZING
What a great story and an inspiration for anyone who wants to build out a tech company with no technical skills.
Interesting and great for her but this piece should have mentionned she comes from a very affluent family. I like to get the full story.
Imagine if they started to teach cooking on their platform. A chef overlooking the cooking process. The mirror is the backsplash behind the stove. Bam good meals for the family.
What an inspiration she is! ❤️
Agreed! Amazing ⭐⭐⭐