NerdWallet / When to Quit

Pushkin Ventures
1 reply
Hey guys - on a recent MFM pod, they detailed the unique story of NerdWallet: luck against all odds or a belief in triumph of quality? Would you have stayed the course? The site started amidst GFC looking to churn out high-quality unbiased content (like advice on best credit card to choose) but was initially punished by Google's search algo. The founders kept at it for years despite low uniques, against all likely markers of failure/needing to pivot and embrace the seemingly only viable but unappetizing way of doing biz. Year 2 = only 60k rev. Finally - sheer persistence pays off, Google changes its algo to reward quality, "visitor numbers and revenue tripling from month-to-month at one point in mid-2010" (CNBC). Site reached $500mm valuation in '18 and now going public... true, it relies partly on kickbacks from fin. services companies - but this would not be possible were they not seen as trustworthy by readers. In a sense, they kicked off the push for transparency in finance which has fueled crypto, RH, etc.

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Solomon Bush
Founder - Log🌲Harvestor
This is a good question! I definitely did not know that about NerdWallet. But IMO each endeavor is different. For every NerdWallet story there is 100 Pets.com stories.
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