Jager McConnell, Crunchbase
The data turnaround
Jager McConnell, CEO of Crunchbase, came to the role because Crunchbase needed to turn around the business, which he successfully did. Jager was ready to start his own company, but the opportunity to become Crunchbase's CEO appeared.
Here are some takeaways from the dinner with Jager:
After becoming CEO, he fired many people because they were not ready for a turnaround. However, it’s not easy to see immediately where the company made mistakes. Therefore, he chose people he trusted to guide him into the nuts and bolts of what was happening inside the company. By working with people who he trusted and who trusted him, Jager was able to make the turnaround 5x times faster than expected.
In addition to building a strong team, Jager also recognized the importance of offering employees a great working environment. By providing a vibrant and dynamic location in the heart of the city, Crunchbase was able to attract top talent that might have otherwise been lured away by larger tech companies offering higher salaries.
Crunchbase isn’t a competitor of Pitchbook, which occupies a different segment than Crunchbase. Pitchbook provides founders with data about potential competitors and provides investors with information on markets and growing segments. Crunchbase is a two-sided market connecting founders with investors based on a sophisticated data set.
Looking to the future, Jager believes that founders must shift their focus away from paper valuations and instead focus on realizing their goals and achieving meaningful outcomes. In today's rapidly changing business landscape, this approach is more important than ever.
Editor: Jacky Lin
Host: Will Agramonte
Organizer: Georgi Koreli