Ship or Die 2025: Why Tech Founders Should Launch on Solana

In a groundbreaking revelation, Bobby Ghoshal, founder of dupe.com, shares how his accidental entry into crypto led to explosive growth and new possibilities for his Web2 company. This case study offers invaluable insights for tech founders considering the leap into Web3.

Summary

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Bobby Ghoshal, founder of dupe.com, a popular deal-finding platform, unexpectedly entered the crypto space by launching a token on Solana just 20 days prior to this talk. What started as a misunderstanding of Nikita Bier's "launch coin" tweet turned into a strategic advantage for dupe.com, opening up new avenues for growth and user acquisition.

Ghoshal's experience highlights the potential for Web2 companies to leverage crypto tokens and blockchain technology to accelerate their go-to-market strategies. By using tokens to incentivize user behavior, create curated marketplaces, and enable seamless cross-border transactions, dupe.com is poised to expand its user base and enhance its product offerings.

The talk emphasizes the advantages of launching on platforms like Solana, particularly for startups seeking capital formation and product-market fit validation. Ghoshal argues that the crypto space offers a more democratic and efficient way for founders to test their ideas and gain traction compared to traditional Web2 fundraising methods.

Key Points:

Accidental Entry into Crypto

Bobby Ghoshal's journey into crypto began with a misunderstanding. Thinking he was simply "buying a domain name," he tagged dupe.com's account in Nikita Bier's launch coin tweet. Before he knew it, $6 million had been traded into the coin, forcing him to quickly understand the implications of his actions.

This accidental launch led to a rapid education in crypto and its potential applications for dupe.com. After consulting with lawyers and industry experts, Ghoshal realized the significant opportunities that lay ahead for integrating crypto into his existing Web2 business model.

Leveraging Crypto for Growth

Unlike many crypto projects that launch without an established user base, dupe.com entered the space with a solid foundation of product-market fit in Web2. This unique position allowed the company to explore innovative ways to use their token to enhance their existing business model and accelerate growth.

Ghoshal identified several key areas where crypto integration could benefit dupe.com:

1. User Acquisition and Retention: By using tokens to incentivize specific user actions, such as successful searches, clicking on partner links, and making purchases, dupe.com can encourage more frequent and engaged use of their platform.

2. Curated Marketplace: The token enables the creation of a staking mechanism for experts (like interior designers) to curate and recommend the best products, improving the overall user experience and potentially increasing sales.

3. Cross-border Commerce: Solana's speed and efficiency open up new possibilities for serving international users, who make up 30% of dupe.com's user base, by enabling seamless transactions in various cryptocurrencies.

Advantages for Web2 Founders

Ghoshal emphasized several benefits for Web2 founders considering a move into crypto:

1. Rapid Capital Formation: Unlike traditional fundraising methods that can take months, launching a token can provide quick access to capital and market validation.

2. Democratic Access: The crypto space allows founders to bypass traditional gatekeepers and connect directly with potential users and investors.

3. Instant Product-Market Fit Validation: Token liquidity and trading volume can serve as proxies for product-market fit, providing immediate feedback on a product's potential.

4. Global Reach: Crypto enables startups to easily serve international customers without the complexities of traditional cross-border payments.

Facts + Figures

• dupe.com has over 1 million monthly active users
• The company works with thousands of brand partners
• 30% of dupe.com's users are international
• dupe.com launched its product in April of the previous year
• The dupe token saw $6 million in trading volume shortly after its accidental launch
• Traditional Web2 fundraising can take 6-8 months on average
• dupe.com plans to use its newly acquired funds to potentially quintuple its user base

Top quotes

• "We want to own the mind share of internet users for people who want to save money"
• "My entry into crypto was a total accident"
• "We can use tokens to incentivize those actions"
• "The capital stack for things like believe is code. You get to exist, and people either give a shit or they don't, and it happens instantly"
• "Liquidity is a proxy for product market fit"
• "I want to bring a bunch of normies, millions of them into crypto, without talking about, you know, burning shit and like, you know, fees and stuff that's just like way over their head"

Questions Answered

What is dupe.com?

dupe.com is a platform that helps users find deals and save money on their online purchases. It serves as a "front door to deals on the internet," catering to users who are either browsing for options or looking for discounts on specific items. With over a million monthly active users and thousands of brand partners, dupe.com has established itself as a significant player in the online savings space.

How did dupe.com enter the crypto space?

dupe.com's entry into crypto was entirely accidental. The founder, Bobby Ghoshal, misunderstood a tweet about launching a coin and tagged dupe.com's account, thinking it was similar to buying a domain name. This led to the unexpected launch of a token that quickly saw $6 million in trading volume, forcing Ghoshal to rapidly educate himself about the crypto space and its implications for his business.

How is dupe.com planning to use crypto tokens in its business model?

dupe.com plans to integrate crypto tokens into its business model in several ways. They aim to use tokens to incentivize user behaviors such as conducting successful searches, clicking on partner links, and making purchases. Additionally, they plan to create a curated marketplace where experts can stake tokens to recommend products. The company also sees potential in using crypto for cross-border transactions, particularly for their international user base.

What advantages does launching on Solana offer to Web2 founders?

Launching on Solana offers Web2 founders several advantages. It provides a rapid way to form capital and validate product-market fit, bypassing traditional fundraising methods that can take months. The platform offers democratic access, allowing founders to connect directly with potential users and investors. Additionally, the speed and efficiency of Solana make it easier to serve a global audience, enabling seamless cross-border transactions.

How does launching a token compare to traditional fundraising for startups?

Launching a token can be significantly faster and more efficient than traditional fundraising methods. While traditional Web2 fundraising can take 6-8 months on average and involve hundreds of pitches, launching a token can provide almost instant feedback and capital. Token liquidity and trading volume can serve as immediate indicators of market interest, providing a quick validation of the product or concept.

What is dupe.com's strategy for bringing non-crypto users into the crypto space?

dupe.com aims to bring millions of "normie" users into the crypto space by making the experience fun and seamless. They plan to integrate crypto functionalities into their app and website without overwhelming users with complex crypto terminology or concepts. The goal is to create an "invisible UX" that allows users to benefit from crypto technologies without needing to understand the underlying mechanics.

How does dupe.com plan to expand its user base using crypto?

With the funds acquired through their token launch, dupe.com plans to significantly increase their marketing efforts. They believe they can potentially triple, quadruple, or even quintuple their user base quickly. By integrating tokenomics into their platform, they hope to improve user acquisition, retention, and organic marketing as users are incentivized to promote the platform.

What is the significance of dupe.com's entry into crypto for the wider tech industry?

dupe.com's entry into crypto represents a potential model for how established Web2 companies can leverage blockchain technology and tokenomics to enhance their existing business models. It demonstrates how companies with product-market fit in the traditional tech space can use crypto to accelerate growth, improve user engagement, and expand globally. This could inspire other Web2 founders to consider similar strategies, potentially bridging the gap between Web2 and Web3.