40+
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🚀
— Eric Ries, The Lean Startup
🚀

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📈

💡

⚡

🔥

02

01

💡

02

🔬

03

⚙️ MVP (Minimum Viable Product)

🏆 Ej: Airbnb — 3 colchones de aire en un apartamento
04

🌱

🏆 Ej: Stripe — 2010-2012 (procesando pagos para devs)
05

📊

🏆 Ej: Uber — 2013-2016 (expansión global)
06

🦄

🏆 Ej: Airbnb IPO 2020 — $47B valoración 🏆 Ej: Instagram — Adquisición por Meta $1B (2012)
03

🌱

✓

✓

✓

✗

✗

📧

Mailchimp

🧠

Basecamp (37signals)

📊

Notion (early stage)

04

Pre-Seed
$100K–$1M
5–15%
Seed
$1M–$5M
10–25%
Serie A
$5M–$30M
15–25%
Serie B
$30M–$100M
10–20%
Serie C
$100M–$500M
5–15%
Serie D+
$500M–$2B+
5–10%
IPO / Exit
$1B+ (valoración pública)
Variable
Pre-Seed
$100K–$1M
Ej: Airbnb recibió $20K de Y Combinator en 2009 (Pre-Seed equivalente)
Seed
$1M–$5M
Ej: Notion Seed $2M — Rappi Seed $1.5M (2016)
Serie A
$5M–$30M
Ej: Airbnb Serie A $7.2M (2010) — Nubank $14.3M (2014)
Serie B
$30M–$100M
Ej: Uber Serie B $37M (2011) — Kavak $485M equiv.

🌎

Nubank
Serie G — $750M (2021, SoftBank)
Valuación: $30B → IPO NYSE 2021 $41.5B
Rappi
Serie E — $1B (2019, SoftBank)
Primer unicornio colombiano — Valuación $3.5B
Kavak
Serie C — $485M (2021)
Unicornio mexicano — Valuación $8.7B
Mercado Libre
IPO NASDAQ 2007 — $333M
Hoy: Market Cap +$70B
Clip (México)
Serie C — $250M (2021)
Valuación: $2B — Fintech payments
Boa Compra / VTEX
IPO NYSE 2021 — $361M
Unicornio brasileño — E-commerce SaaS
04

👨‍👩‍👧

FFF

Friends, Family & Fools

💰
😇

Angel Investor

💰 Ticket: $25K–$500K
🏛️

Venture Capital

VC Fund

🏆 Sequoia, a16z, Accel, KPCB
🤝

Corporate VC

🏆 Google Ventures, Intel Capital, SoftBank
🌱

🏆 Y Combinator (7%), Techstars, 500 Startups
🔬

🏆 MIT Delta V, StartUp Health, IESE BAN
🏦

Private Equity

💰
🌍

SoftBank Vision Fund

💰 Ticket: $100M–$10B+

🌰
Sequoia Capital
Apple, Google, WhatsApp, Stripe
🤖
Andreessen Horowitz (a16z)
Facebook, Airbnb, GitHub, Coinbase
💡
KPCB / Kleiner Perkins
Amazon, Google, Slack, Twitter
⚡
Y Combinator
Airbnb, Dropbox, Stripe, Reddit
🔑
Accel Partners
Facebook, Dropbox, Slack, Spotify
05

MRR 📅

MRR = Σ (suscripciones activas × precio/mes)
💡 Ej: 500 clientes × $99/mes = $49,500 MRR
ARR 📆

Annual Recurring Revenue

ARR = MRR × 12
💡 $49,500 MRR = $594,000 ARR
CAC 🎯

CAC = Gasto marketing+ventas / N° clientes
💡 $50K / 100 clientes = $500 CAC
LTV 💎

LTV = ARPU × Margen Bruto / Churn Rate
💡 Ratio saludable: LTV/CAC ≥ 3x
Churn 📉

Churn = Clientes perdidos / Clientes inicio × 100
💡 SaaS saludable: <2% mensual
Burn 🔥

Net Burn = Gastos mensuales − Ingresos
💡 Ej: $200K gastos − $50K ingresos = $150K/mes
Runway ✈️

Runway = Cash en banco / Burn Rate mensual
💡 Recomendado: 18+ meses antes de levantar
GMV 🛒

GMV = Σ todos los pedidos en la plataforma
💡 Airbnb GMV 2022: ~$63B, Revenue: ~$8B
DAU/MAU 👤

Stickiness = DAU / MAU × 100%
💡 WhatsApp: ~70% stickiness (muy alto)
NPS ⭐

Net Promoter Score

NPS = %Promotores(9-10) − %Detractores(0-6)
💡 Apple NPS: ~72, Tesla: ~97
Unit Econ. 📊

Contribution Margin = Revenue − Variable Costs
💡 Saludable cuando CM > 0 (contribuye al fijo)
MoM Growth 🚀

MoM = (MRR_actual − MRR_anterior) / MRR_anterior
💡 YC: >5-7% semanal = excelente
06

SaaS

Software as a Service

Slack HubSpot Salesforce Notion
🏪

Marketplace

Airbnb Uber Rappi Etsy
🎁

Freemium

Spotify Dropbox LinkedIn Zoom
🔄

Subscription

Netflix Dollar Shave HelloFresh
B2B

B2B

Stripe Twilio Segment Zendesk
B2C

B2C

TikTok Instagram Nubank Chime
D2C

D2C

Warby Parker Allbirds Casper
⚙️

API-as-a-Service

Twilio SendGrid OpenAI API
07

🏠
🌐 Global

Airbnb

2008
Marketplace
$75B
IPO:2020 NASDAQ
🚗
🌐 Global

Uber

2009
Marketplace
$95B
IPO:2019 NYSE
💳
🌐 Global

Stripe

2010
API B2B
$65B
Status:Privada
📝
🌐 Global

Notion

2013
SaaS Freemium
$10B
Status:Privada
💜
🌎 LATAM

Nubank

2013, Brasil
Neobank B2C
$18B
IPO:2021 NYSE
🛵
🌎 LATAM

Rappi

2015, Colombia
Super App
$5.25B
Status:Unicornio
🛒
🌎 LATAM

Mercado Libre

1999, Argentina
Marketplace + Fintech
$80B+
IPO:2007 NASDAQ
🚘
🌎 LATAM

Kavak

2016, México
Marketplace Autos
$8.7B
Status:Decacornio
08

09

🌉

Silicon Valley

San Francisco Bay Area, EE.UU.
700+
$300B+

🗽

Nueva York

NYC Tech Ecosystem, EE.UU.
130+
$50B+

🎡

Londres

Silicon Roundabout, UK
100+
$20B+

✡️

Tel Aviv

Startup Nation, Israel
40+
#2

🌿

São Paulo / Brasil

LATAM Tech Hub
25+
$5B+

🦅

Ciudad de México

Silicon Border, México
15+
$2B+

🇺🇸 EE.UU. 700+ unicornios
🇨🇳 China 200+ unicornios
🇬🇧 UK 100+ unicornios
🌎 LATAM 60+ unicornios
🇩🇪 Europa (resto) 150+ unicornios

🌍 G20 + Leading Startup Nations

🔍

25+

15

$600B+

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