From starting off on $60 to becoming an internationally-recognized platform — the founders learned a lot during GirlCrew’s evolution. Even though GirlCrew spent a small amount in its first year, that wasn’t always the case.
“It is very expensive to run a company,” said Newenham. “We had no idea how much experienced software engineers were to hire, nor how much money gets spent on things like employment contracts (and) intellectual property agreements.”
There were also technological hurdles the leaders had to face — such as the importance of coding.
“We initially outsourced the development of our app which was a big mistake. After losing money outsourcing, we decided to bring development in-house.”
“We got an amazing technical advisor on board, who was able to guide us through everything. We had to start over from scratch again, but we did it,” said Newenham. Without a tech advisor, they wouldn’t have known if the developers they interviewed were experienced enough for the project — which could have been costly, the co-CEO added.
After launching an app in 2017 and expanding their platform worldwide, it seems like GirlCrew has done a considerable amount since 2014. So, what’s next? According to Newenham, the group hope that in five years’ time they can join other platforms by listing on a stock exchange.
“We would love to IPO!” she concluded.
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