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Insights About the Role
Naked Labs (N|L) is now family office-owned + funded and headquartered in Los Angeles (HQ office location TBD pending CEO selection) with R&D team located in Graz, Austria. N|L is a well-positioned health & wellness company with key advantages and assets that include:
- >$20M VC funding invested in the product, underlying technology platform and strategy
- A proven Gen 1 product already developed, built, and shipped to a solid based of loyal customers, with sales of >3,000+ units and >30,000 active users of its mobile app
Valuable 3D scanning and related IP, including seven patents (pending), and five others provisionally filed
- A crack R&D team in Austria, with world-class expertise in computer vision, hardware, firmware and more.
- A pipeline loaded with inbound interest from potential ecosystem partners ranging from EXOS to Adidas to Rent the Runway to Bonobos (for fashion and apparel sizing technology), along with store-within-a-store interest from giants such as Target and Best Buy.
- EXOS is currently installing units of the current Naked product into its training facilities and community centers which will enable the partnership to help shape the user experience and feature set for Gen 2 launch.
- Additionally, N|L has another ~150 Gen 1 units ready to place into health clubs, high-end training facilities, and related venues to help drive viral adoption and enable its Commercial (B2B2C) model.
- Debt-free, with no pending claims or litigation and fully-funded by Greyscale Holdings to achieve Naked Labs original Series B goals.
N|L has landed squarely on its feet under family office ownership that has the desire, vision and resources to help N|L realize its outsized potential to be a true game changer in the health and wellness technology space and ecosystem and then becoming a horizontal enabler of multi-billion dollar global markets.
Amanda Carson, from EXOS said it well, “Naked took a different approach than the competitors. Instead of creating an enterprise solution or something that was for the practitioner or the gym. They went directly to the consumer. With Fit3D and other types of products–they can’t be in your home! There can be arguments about which one is more accurate or better, but the point is to try to get as many people as possible scanning! Naked can, if they keep up, unlock the open fitness and performance sector powered by EXOS. They can unlock the apparel sector powered by whomever. So, I think Naked getting into the home, with a consumer product can continue with the advantage that they have, which totally sets them apart from what’s out there.”
Some 3,000+ purchasers of the device are using it often (~80% monthly, ~50% weekly. Note: zero retention features deployed). Another 30,000+ have downloaded the app, so there appear to be thousands of users who “borrow” a scan from a friend’s device to get the benefits. The new CEO will be able to quickly drive traffic to shared locations to start driving the benefits of the service without having to own the Gen 1 device.
This is a rare opportunity for an accomplished, startup CEO to come into a Founder stage company without having to back into the garage AND not have to raise capital until his/her hand-picked team has executed on a clearly defined set of milestones and metrics.
Principal Charter of the CEO
The new CEO will partner with Julia and her family office, which have committed to funding N|L with at least an 18-24 month runway and to participate in/lead the Series C round once the following has been executed on:
1. Establish LA HQ and swiftly build leadership team with key hires including VP Engineering and/or Product depending on the super-powers of the CEO
2. Complete R&D, manufacturing and ship Gen 2 Naked product. Gen 2 is more of a clever integration than an exotic hardware invention–basically a cross between an Amazon Echo in form factor and a Ring camera in optics complexity. The real power of the device will be in the non-rigid 3D reconstruction algorithms already developed by the Computer Vision team in Austria
3. Achieve initial subscription service and accompanying recurring revenues from a material % of the installed base
4. Develop key strategic, revenue generating partnerships in Fitness, Healthcare and Clothing Retail where ongoing discussions are underway and the pipeline is robust
Duties for the N|L CEO
- Assess: Swiftly analyze the N|L offering, business metrics, roadmap, strategic plan, B2C and B2B opportunities and ecosystem potential.
- Plan: Together with board, formulate a plan and a vision for N|L’s path to execute across product development, ecosystem creation and go-to-market monetization. Envision and build the playbook that will enable ramping the N|L consumer-direct as well as channel strategies required to secure next round financing.
- Build: RECRUIT, build and lead the team to execute the playbook in a data-centric, real-time tested and checked operational flow, thereby managing the expectations of all parties.
- Evangelize: Amplify the brand, rally the team and energize the market and the ecosystem with N|L’s narrative, ethos and mythology.
- Optimize: Constantly test, iterate and turn the dials to keep the mixture just rich enough to maintain the momentum at its peak and performance just ahead of stretch goals.
Desired Background, Experience and Skill Sets
- Startup DNA: The selected CEO will done a tour or tours of duty in scrappy, resourceful, “failure is not an option” startup(s).
- Bankable CEO: Sitting or previously been a CEO who has raised capital or a President/GM/COO ready to step into the first seat who has been a participant in successful venture-financing
- Ideally Engineering or Product DNA: based on the critical path requirement to ship Gen 2 product and build an ecosystem of partners, the selected CEO will bring one of these as a super-power and hire for the other.
- Successful Operator: Documented reputation as a world-class operator with the analytical, financial and organizational chops, the disciplined methodology and approach it takes to grow an ecosystem around a new category
- Passion for Health/Wellness/Fitness <full stop>
- Domain Chops: Experience in a technology or deeply tech-enabled venture IDEALLY one which involved hardware/consumer electronics. Manufacturing and the integration of hardware, software, cloud, mobile and the underlying science and IP require a technology savvy CEO
- Platform & Ecosystem experience is a strong preference
- Strategic: More than just operational, technical or multi-functional, the selected candidate will have tackled and solved complex problems, driven critical high-stakes decisions. The CEO must truly understand and be able to prioritize in real-time, the big things that matter in any discussion or decision.
- Leader. With the track record and reputation for building high performance organizations and strong culture. N|L needs a CEO with more than just operational savvy; it needs a person who can lead with the vision of knowing where the company needs to go and determine how best to get there.
- Team Builder: A great leader is also a great recruiter and team builder and will bring a track record of building high performance teams. Ideally, the selected candidate will already have her/his key hires in mind and have a reputation and a network of A Talent looking to join the band!
- Data-driven and Analytical: CAC, churn, LTV, acquisition, conversion, retention and the like are the vocabulary of stakeholders at N|L.
- Smart & Curious: High intellectual bandwidth and a proven “quick study”.; Smart & Insightful:, but also street smarts and the gut to make the tough calls that don’t always flow from the data.
- Nimble & Scrappy: Flexible and resourceful entrepreneur with a test and iterate mentality and style; takes risks and course corrects quickly; has adapted quickly to changing technologies, models and market dynamics
- Credible: Brings reputation, relationships and track record that give a company the stamp of approval with the ecosystem and stakeholders. Highest standards of integrity, honesty and judgment.
- Decisive and driven to succeed; Bias for action! Able to drive critical-path decisions, prioritize and resource projects and programs that will ensure success; unquestioned work ethic.
- Charismatic Communicator: A polished presence, self-confidence, gravitas and a certain level of intensity; a great storyteller; articulate; confident; able to convince partners, motivate employees, and seduce investors
- High energy, stamina and the personal freedom to put in the time it will take to build and ship!
- Humble & Low Ego