Episode 030 031 032 Tracy DiNunzio

Summary

• Tim Ferriss starts off the podcast with some Japanese trivia
• He recommends two things: a song called "Shimauta" by The Boom, and a comic book series called "Rokudenashi Blues"
• He then introduces Tracy DiNunzio, the CEO and founder of Tradesy, a startup he has invested in through a syndicate on Angelist
• Tradesy is a platform that allows people to buy and sell used luxury goods, particularly designer fashion
• DiNunzio shares her experience starting and growing Tradesy, including the challenges and successes she has faced
• She talks about the importance of building a strong team and culture, and the role that data plays in decisionmaking at Tradesy
• DiNunzio also discusses her views on leadership and the importance of empathy and vulnerability
• She advises aspiring entrepreneurs to focus on solving a problem and creating value, rather than just trying to make a lot of money
• Tracy DiNunzio, the CEO and founder of Tradesy, discusses her journey of starting and growing the peertopeer fashion marketplace
• DiNunzio funded the company initially through credit cards and personal savings, and also bartered services such as web development
• She learned various skills such as design, marketing, and customer acquisition on her own, and also did some frontend coding
• DiNunzio explains the difference between frontend and backend development, with frontend involving the user interface and functionality and backend involving the serverside technology and database management
• Tradesy initially focused on wedding dresses and expanded to other categories of designer fashion
• The company has faced challenges such as building trust with customers, improving the user experience, and handling returns and customer service
• DiNunzio emphasizes the importance of building a strong team and culture, and the role of data and customer feedback in decisionmaking at Tradesy
• Tim Ferriss and Tracy DiNunzio discuss the opportunities and challenges of starting and growing a company in the current market
• DiNunzio notes that platforms such as Airbnb and Uber allow people to fund the prototyping and testing of a company through side hustles, and that the proliferation of such platforms has made it easier to start a company but harder to acquire a critical mass of customers
• DiNunzio shares her experiences starting Recycled Bride, a wedding dress marketplace, and Tradesy, a peertopeer fashion marketplace
• She emphasizes the importance of building a strong team and culture, and the role of data and customer feedback in decisionmaking at Tradesy
• DiNunzio also discusses the challenges of building trust with customers, improving the user experience, and handling returns and customer service
• She advises entrepreneurs to focus on solving a problem and creating value, rather than just trying to make a lot of money, and to be open to pivoting and adapting to changing market conditions
• Tracy DiNunzio is the CEO and founder of Tradesy, a peertopeer fashion marketplace
• DiNunzio started Tradesy after founding and running Recycled Bride, a weddingfocused online classifieds company
• DiNunzio bootstrapped Recycled Bride and later funded Tradesy with venture capital
• Tradesy's business model is based on a takerate, where the company makes money by taking a percentage of each sale rather than charging fees
• DiNunzio believes it is important for founders to have strong personal brands and for their companies to have distinct brand voices
• DiNunzio emphasizes the importance of finding and keeping talented team members, and suggests using employee referral programs and offering equity as incentives
• DiNunzio advises founders to be open to pivoting their business models and to focus on building a strong company culture.
• Tracy DiNunzio started Tradesy, an online marketplace for buying and selling secondhand designer fashion, in 2012 after a successful stint as an artist and entrepreneur in the wedding industry
• She entered the Launchpad Accelerator to gain access to investors and learned valuable skills in pitching and financial modeling
• Tradesy's business model involves taking a percentage of each sale as a fee and offering seller protection through a guarantee program
• The company has grown rapidly and now has over 10 million members and processes $100 million in GMV (gross merchandise value) annually
• DiNunzio emphasizes the importance of building a strong team and maintaining a positive company culture
• She also advises entrepreneurs to focus on their core value proposition and be open to pivot if necessary
• DiNunzio is currently working on expanding Tradesy's business internationally and exploring new revenue streams through partnerships and collaborations.
• Tracy DiNunzio, CEO of Tradesy, was a guest on the Tim Ferriss Show podcast. She discussed her experience with starting and running Tradesy, a peertopeer fashion resale platform. DiNunzio talked about the importance of having a solid team and making strategic decisions, such as keeping Tradesy's commission fees low in order to stand out in a crowded market. She also emphasized the value of building a strong brand and using data to make informed decisions. DiNunzio also discussed the challenges of scaling a business and the importance of being able to pivot and adapt to changing market conditions. She advised entrepreneurs to focus on building a great product and to not be too fixated on shortterm metrics, such as user growth.
• Tracy DiNunzio, CEO of Tradesy, raised $1.5 million from Launchpad LA and later from venture capital firms for her online market place for buying and selling secondhand clothing and accessories
• DiNunzio believes that although overt sexism may not be prevalent in the tech sector, subtle discriminatory behaviors still exist
• She founded Tradesy in 2012 and currently has a balanced team of men and women
• DiNunzio believes that a company's culture and values are the most important aspects to focus on when scaling a business
• She advises other entrepreneurs to surround themselves with team members who are better than they are, and to not be afraid to pivot if necessary
• DiNunzio also emphasizes the importance of being proactive in managing company culture and ensuring that it aligns with the company's values.
• Tracy DiNunzio, CEO of Tradesy, was born with spina bifida, a congenital birth defect that caused damage to her spinal cord. Despite this, she has been able to maintain mobility and health throughout her life through a series of surgeries and therapies. DiNunzio attributes her ability to avoid complaining to the fact that she had to learn to advocate for herself from a young age due to her condition. She believes that complaining is a skill that can be learned and trained, and that it is important to focus on solutions rather than dwelling on problems. DiNunzio also discusses the importance of building and maintaining strong relationships, both personally and professionally, as well as the value of vulnerability and authenticity in leadership.
• Tracy DiNunzio is the CEO of Tradesy, an online fashion resale company
• In 2014, DiNunzio predicted a major growth period for the company and attempted to fundraise, but was unsuccessful
• DiNunzio offered her senior team a salary cut or layoffs to make it through Q1
• The team opted for salary cuts and the company experienced a growth spurt in Q1
• DiNunzio was able to secure a term sheet for a larger raise in the Valley
• The growth in Q1 was due to a combination of factors, including Tradesy's referral program and marketing efforts, an increase in the number of brands available on the platform, and a shift in the company's business model to focus on consignment.
• Tracy DiNunzio is the CEO and founder of Tradesy, an online fashion marketplace.
• Tradesy aims to be the place where women sell their "gently used" designer clothing and accessories.
• Tradesy focuses on organic customer acquisition, rather than paid marketing, and puts a lot of resources into hiring and retaining top talent.
• Tradesy recently raised $13 million in a Series C funding round.
• DiNunzio talks about her experience raising money and the importance of having a solid plan in place before seeking funding.
• Tradesy is currently hiring for a retention marketing manager and Full Stack engineers.
• DiNunzio discusses the challenges of scaling a company and maintaining a strong company culture.
• DiNunzio also talks about her experience as a female CEO and the importance of diversity and inclusion in the tech industry.
• Tradesy is an online marketplace for buying and selling gently used women's clothing and accessories.
• Tradesy was founded in 2012 and is headquartered in Santa Monica, California.
• The company has raised $18.5 million in funding from investors such as Kleiner Perkins, Rustic Canyon, and Rincon Venture Partners.
• The company's business model relies heavily on organic customer acquisition, and Tradesy focuses on providing excellent customer service in order to retain customers and keep them coming back to the site.
• Tradesy is looking to hire a retention marketing manager and Full Stack engineers.
• Tradesy will be launching a men's clothing section in 2015.
• People can learn more about Tradesy and use the service by visiting Tradesy.com or downloading the app from the iTunes store. Tradesy will also be available on Android soon.
• Tracy DiNunzio, the founder and CEO of Tradesy, can be found on Twitter at @tracyd.