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Shahed Khan

Entrepreneur, Digital Marketer, Alliances Leader

Shahed Khan is an investor and entrepreneur based in the San Francisco Bay Area. He is currently an investor at Various, a role he has held since January 2020. In this capacity, he acts as an angel investor in several private companies, including notable startups like Remote, Replit, and Eight Sleep.13

Prior to his role at Various, Shahed co-founded Loom, a video communication platform that gained significant traction and was sold for $1 billion. During his tenure at Loom, he served as President until January 2021, overseeing its growth to over 23 million users across more than 350,000 companies.13

Shahed's professional background includes experience as an analyst at Upfront Ventures and a product designer at Weebly. His investment strategy focuses on early-stage companies, leveraging his extensive experience in technology and entrepreneurship to identify promising startups.12

Highlights

Jul 31 · linkedin

We paid $150k for 'loom.com' in 2018.

How we acquired that domain is still one of the company’s wildest stories...

In 2017, we rebranded from our original name Opentest — to Loom.

A name we thought was original, resembled what we were doing ('weaving' conversations), and hoped to turn into a verb (send me a 'loom').

We paid $10 for http://useloom.com and registered @useloom everywhere we could.

As Loom grew, so did our brand.

One of our early investors suggested we trademark our name to weed out any confusion with similar brands.

He was right (more on this shortly).

This was happening while we were in midst of closing our Series A.

With a new round of cash coming in — and our promise to new investors of positioning ourselves as the 'Loom' in the market.

We knew we had to take our brand far more serious than we had up until this point.

I went off on a side quest to figure out who owned the Loom domain, social handles, and SEO.

The WHOIS listed a public SaaS company as the contact.

They acquired a company with the same name four years earlier and shut the brand down.

This was an inactive domain within a public company, serving no use to them.

I was able to get in touch with the CEO, who then forwarded us to the person in charge of IP.

We went back and forth on email for weeks.

I offered them $50k for the domain, knowing well, it would be appraised by a third party for more than $400k.

I mentioned we were a small seed-stage startup with a small budget — and they agreed to selling it to us for $75k.

Thinking I just negotiated the deal of a lifetime, I was ready to sign docs & send the wire until their legal team went silent on us.

Weeks had gone by. I sent email after email.

Almost a full month after we had settled on a price, I hear back from their legal team.

Just a few days earlier — they hear from a separate party also very interested in the domain...

The legal team put us in touch with the competing party and told us to negotiate on price and come back to them with the highest offer.

This startup, was pre-product, raised less than we had.

and already had approval from their VC to spend upwards of $500k on this domain (!!)

There was no way we would compete at a price that high, but the other company was not willing to back down.

Lucky for us, they hadn't shared their budget with the legal team / and the legal team never mentioned our bid to them.

We needed to convince them to find a new name.

The CEO's biggest worry was wasting time on finding a new name & coming up with a new brand design.

Our only chance at settling this immediately was to offer to pay for this company to rebrand away from 'Loom'.

So we offered him $75k cash. Contingent to him walking away from the domain.

To our complete surprise, he accepted.

We paid him $75k.

He walked away from the negotiation. The legal team sold us the domain for $75K.

We paid $150k altogether for a domain that was worth well over $500k.

We won with luck.

Apr 3 · linkedin

How 9 months of building without success, 2 difficult pivots, and dozens of rejections resulted in Loom:

In reflecting back on the last 8 years, and investing in 40+ companies, I've become convinced that the most common pitfall for founders is investing too much time on finding the ‘perfect’ solution to their idea.

Loom didn’t begin as Loom.

It started around a whiteboard with Vinay, Joe, and myself. We wrote down 6 ideas, and went with the solution we thought was "the one".

A user testing marketplace.

7 months in, we only made $600, but learned an important lesson:

Companies cared less about advice from experts (what we were selling). Instead, they wanted to hear from their own customers.

We pivoted. The new idea?

Build a SaaS offering that’d let companies get direct feedback from their own users.

As Vinay started to rebuild the product, Joe and I spent weeks cold emailing 300 different companies offering a free trial

Soon after—we heard back from a research team at Harvard.

They used our product (called Opentest at the time) to gather insights from 7 students for a campaign.

As a result—they received 7 different videos..

Instead of sharing these videos back with the entire research team...

Someone at Harvard used the same Chrome extension (built originally for the user testers themselves)

to record a 1-minute summary of the 7 videos.

This 1-minute video was shared back with their team.

This wasn’t how our product was supposed to be used.

We realized that people were more interested in using Loom as a communication tool.

When we were able to realize that...

We took the extension, launched it on Product Hunt in June 2016, and had 3,000 people sign up on the same day.

Which was 2,990 more users than we’d had in the 9 months prior.

A couple things one can take away from our experience:

First, de-stress yourself from “finding the perfect idea”.

It’s impossible to predict how things will go once you start—and it’s better to start and adapt than never launch because you’re worried something won’t work.

Second, the four traits that got us to Loom were:

  1. Timing of the market
  2. Camaraderie
  3. Intense focus
  4. Pure luck

We were in a period where remote work was early, but not a foreign concept.

We enabled a ‘trust by default’ mentality amongst the team. We celebrated outputs that drove real results. This contained our own bias and ego.

We limited distractions, even the shiny ones (investor meetings, meetups, high-value dinners in SF, etc) and chipped away at finding product-market fit.

For the past few weeks, I’ve been spending more time with founders on getting their V1 out, helping discover growth opportunities, fundraising, and advising as founders go from 0-1 as well as those scaling from 1-2.

I'm opening a few slots to work with me 1:1 for the next 3-4 months.

  • You're a Founder or CEO
  • You're building in B2B SaaS or Consumer

Comment "Interested" below & the team at Intro will send you a link to my booking page.

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Shahed Khan
Shahed Khan, photo 1
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Experience

Founder at Jumpptech, Alliance Play, Thriller Life
Director Global Alliances at EMC, WW Alliances Manager and other roles at Microsoft, Developer Relations Manager at Intel, Regional Sales Manager and Industry Manager at Apple, Sales and Business Deve at Seascape, Computer Kids, ISC, QED

Education

Post Graduate Diploma in Marketing & Advertising from Bharatiya Vidhya Bhavan, Bachelor of Commerce from University of Rajasthan, Business Communications from British Council

Location

New York, New York, United States