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Carolyn Childers

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28
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2022-04-21
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2022-04-21
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  1. Stay tuned. There's a lot of things that we are exploring right now, we're really focused. We just launched nationally. We're really focused on building out these amazing communities in some new cities in the US and investing in that experience. We have ambitions of being the most powerful network of women in the world. So I think that at some point we'll include international for sure.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  2. Think if anything, there's a misconception around how much this is really focused on a group of amazing professional women that are coming together that are supporting each other in

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  3. We have just an incredibly engaged, supportive community that really aligns with this mission. And we went and raised this capital because there's so much more opportunity for us, what is at stake is how do we continue to invest in this really vibrant community that the experience just gets better and better as more women join.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  4. We're going through the process of that definition right now and finding the right partners that are a part of that. At the end of the day, what we are most focused on is how do we help underrepresented communities get access to opportunities. That is what is most aligned with our mission.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  5. Murder of George Floyd. I take a lot of inspiration from companies like Ben and Jerry's that have been very clear about these are the issues that we stand for and where we feel like we need to make statements and push things forward. Because in today's world, it's actually really hard to do that across everything. Like you do have to choose which areas you're going to make those investments and which you aren't. And even with this latest fundraising, we were really excited. We've made a commitment now of a million dollars annually to put towards nonprofits that align with our mission. And so for us, it's not just been about how do we continue to make those statements when we need to, but also to start to put some capital behind that as well.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  6. Yeah, I think it's a difficult time for any business leader to define where and what you should have a voice on knowing that my personal voice and Lindsay's personal voice may not actually be representative of a full team and community. So we always want to make sure that as we make statements, as we do things, that we recognize that this is not our platform, but this is actually a representation of chief more broadly and our community. And there have definitely been times where we feel like it's very important for companies to make statements. And I think it's an unfortunate turn of events that companies are leading the way on this more than government and other places and therefore even more important for companies to make those statements. I feel particularly proud of the fact that I think we were one of the first companies to put a statement out after the

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  7. Yes, exactly. I think we both know very clearly what each other's superpowers are. And when somebody should lead the decision versus the other.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  8. Playful as you described it. We have a really good dynamic in that way because we really trust each other and we can come at things from totally different ways and we've learned how to debate well about those things that we come to a great place at the end of the day. And I could not be happier to be going on this journey than being able to do it with her.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  9. We are actually very different and very the same all at the same time. I encourage anybody that is thinking about starting a business and thinking about getting a co-founder, you should never get a co-founder who is exactly like you. Always make sure that you have just this really nice balance of skills. And that was very much the case for Lindsay. And I am much more of the operator, I think, about how is this experience going to be run? How do we think about scaling this? What is our strategy long term? Lindsay is the creative and she is the one who is maniacal about any experience that we're launching, how that will actually resonate from a brand standpoint. But at the end of the day, the thing that is most clear is that our values are really aligned. And that's the thing that's really similar about us allows for those differences to play out in a way that is

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  10. Yeah, definitely. And I think in particular for people earlier in their careers where I think about my early career, half of what I learned was through osmosis of just being around conversations that were happening. But it's very different as you get later in your career and as you're getting into that stage where there is a lot pulling you back home. And just the hour-long commute for people that can be taken out and what that could do for you, I think there's so much opportunity for us to really explore and not go back, not just go back to the way that it was working before, because it wasn't working before either.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  11. I think I'm optimistic actually on how it could affect everything. We had a conversation with Francis Fry on this topic. I think her statement was it's not like it was working before. And I think that the opportunity for women to create more of this hybrid work environment just allows for a much more flexible way of approaching that balance. particularly if schools are up and running and we need some real childcare investments. They can actually work.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  12. Well, we wanted to make sure that there was really strong network effects in local geographic regions, even though we were virtual, we do recognize that, you know, the women in Seattle will have a meetup together and want to meet in person and our technology allows them to go and do that, which is not able to happen if you are just two people in that region. So it was important for us that we did it in a way that allowed for that concentration, that allowed you to meet people that were in the ecosystem.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  13. For the most part, a lot of that are women that might be managers or directors right now that we hope can someday soon become chief members as they grow in their career. Some of it is that we just launch nationally. We were only in seven cities across the US before January of 2022. Anybody can join in the US. But we still have people that are on waitlists that are in international cities. So some of it has just been our rollout of not being in the locations that these women currently reside.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  14. Yeah, I would say that we are a vetted community, not an exclusive community. There is importance on that vettedness. It is actually just, we want to make sure that this is the right community for them to continue to grow their leadership.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  15. I mean, I think that we have tried to build Chief in a way that feels very inclusive across the entire ecosystem. I think one of the things that was important from day one was to make sure that we had male allies. At the same time, there's very interesting study out of Northwestern that shows that one of the strongest indicators of success for women is her network of other credible women. It is one of the biggest influences in somebody's ability to have success in their career, which isn't the same for men. For men, it can be men or women in that network still allows for that level of success to arise. And so I think there is something really important about having that community of people who understands your context and building a community that allows to tap into that. While doing it, Exclusive of a way as we possibly could.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  16. Yeah, I feel incredibly proud every day that I can work on a business that is both a true mission-oriented business that has a mission as big as changing the face of leadership, but that can also in and of itself be a really big business. We do live in a capitalist society where the size and strength of a business can often influence how much influence that business can have. So we are always very conscious of the duality that exists of the mission and the business.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  17. With every one of your investment partners, what additional things can they give you through that partnership? And it is a really nice benefit to have Cap G. They definitely make introductions into the Google ecosystem and especially as I was talking at the beginning of how much what we want to invest in is the underlying data platform that allows us to find the right connections to personalize this.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  18. We definitely have had those stories as well. You know, if you think back to 2018, which is when we went and raised our first seed funding, there's a lot of no's as we were building this. And I think what has been extra hard in some ways is for us it was never just about getting capital, but I think we have also felt the extra need to ensure that whoever is giving us that capital really aligns with our mission in a deep way. Capital just for capital's sake is just not a route that we ever wanted to go. We've been very fortunate through each of the rounds to bring on people that are very aligned with our mission. We had Ken Chenault who joined us during our Series A and is on our board and Alexa von Tobel from Inspired Capital. And then in this past round, Layla Sturdy from capital G

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  19. I mean, isn't that the goal of any business to create a product that is amazing that you can create a platform out of it that everybody wants to use? But no, our near-term perspective is definitely how do we build the most strongest community platform for this demographic. Our mission is broad. It is to change the face of leadership. And we are definitely focused right now on senior executive women. I view it as a community platform focused on career. And that can definitely extend to other demographics over time, for sure.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  20. Yeah, to match them to each other, to give the resources that they most need, to allow them to crowdsource from each other. It's a multitude of services that you get at Chief. There's a LinkedIn-like product to tap into the broad network of Chief. There's also a master class-like product of how do we produce content and resources for you to tap into. And then there's almost like a dating app aspect to it. And all of it is within our platform that is really about how do we build the right community and connection that is in the DNA of our superpower from a technology standpoint.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  21. The room is a place for you to just work through your biggest professional and personal challenges. And we have built a lot into how do you build that right group? What are the tools that you want to give them to continue that connection over time more than the actual Zoom interface?

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  22. We use what was at our disposal, and I think with any company, we needed to really define what is the thing that's going to make us strongest and us building our own video platform is not the thing that we needed to go and invest our technology into. For us, the real magic of what we do is how do you find the right connections within Chief? So a lot of our efforts have been we can use Zoom, we can use other things to facilitate the actual moment of connection, but how do we actually build the data infrastructure, the machine learning that actually says these are the 10 women that should come together for this group conversation? And one of the things that is kind of the core service that we do at Chief is what we call our core groups. It's groups of 10 women. They meet every month. There's an executive coach.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  23. Engagement with our community went up threefold. Women needed this community more than ever. They were trying to lead through social unrest and business challenges that nobody had ever foreseen. They were also mothers that were trying to figure out how they were going to balance homeschooling with being that leader. And there was no playbook. And so something like Chief became needed even more. And it completely changed our model that we actually were able to expand the number of cities that we extended into over that time and provide this value for more women in a time when I think it was needed most.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  24. I think we had always known that over time the model would shift. I used the Peloton analogy a lot in the early days of they started with a studio in New York City and people were going in for the classes. But over time, you could participate in the Peloton community.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  25. Yeah, it definitely surprised us in the early, early days of starting something. You don't know until it's out there in the world what the reaction to that is and the reactions that we had early days were from the lawyers that were trying to help us set it up and the VCs that we were trying to get funding from. Those were not easy conversations. So by the time we actually went and launched, it was amazing to see just how much of a product need there was and how much this idea and concept really resonated with all of the women that we were really trying to build this community for.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  26. Of would be really impactful. So that was our motivation to start Chief, to really focus in on a demographic that hadn't really had a community built for it because they were so often the mentor or the speaker at some of these other networks. We wanted to be really focused as we launched. And so we just focused into New York City and started with a small cohort of women. And Lindsay and I felt like we were really ambitious of we're going to launch with 100 great women in New York. And we instantly built a wait list of thousands of women across the nation that wanted to join. We now have a waitlist of close to 60,000. And we realized that this need that we thought was a real personal need was actually pretty robust across so many women in the workplace, just looking for that community to come together.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  27. The idea of Chief came from a very personal place of getting more senior in our careers and spending all of our time managing teams and mentoring others. You know, there's the old adage of it gets lonely at the top. But for women, it gets lonely a lot earlier. And I think what was really unique about what we wanted to build was we wanted to focus on senior executive women. There's 5.5 million women who are VP and above in the US. And they are so often the speaker and so often the mentor, but they actually don't really have a great community or resources for themselves to continue to grow as leaders. And we felt like the ripple effect that that could have of getting just more of those women into true positions of influence and leadership, the ripple effect that that could have in all of the companies that they are employees and leaders.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT

  28. There's the old adage of it gets lonely at the top, but for women it gets lonely a lot earlier. There's 5.5 million women who are VP and above in the US, but they actually don't really have a great community or resources to continue to grow as leaders. Launch chief with a hundred great women in New York and we built a waitlist of thousands of women across the nation. It's a multitude of services that you get at Chief. There's a LinkedIn like product. There's also a masterclass-like product. And then there's almost like a dating app aspect to it. How do we build the strongest community platform for this demographic? Our mission is to change the face of leadership.

    2022-04-21 · Masters of Scale · Rapid Response: How Chief became a phenomenon, w/CEO Carolyn Childers · IDENTIFIED FROM THE TRANSCRIPT