- Valuation Model
- Expert Interviews
- Founders, funding
How does Duffl acquire and retain college student customers and what are some misconceptions about the college student market?
David Lin
Co-founder & CEO at Duffl
A lot of apps have come and died on college campuses. Some have taken longer than others. Like MySpace was a long journey. But I think there's a reason a lot of huge brands are founded on college campuses. It's the next generation of humans. And there are all these social dynamics that are so unique to incubating a viral idea.
And I think acquisition, obviously like Facebook, Tinder, Bumble, they've really nailed how to grow through college campuses using Greek life as a huge lever, or just existing social networks like Facebook in its early days had like a class schedule built into the site. People don't remember that, but over time, it's evolved into the mainstream.
I think the reason an app like Yik Yak might have come and gone is that there's a very cool novelty factor, but there’s no true core product value to a person's life. And I think dark stores have fundamentally very strong core product value. Everybody has to eat, and everybody has the same amount of hours in a day. We all live the same 24 hours as Bill Gates and Elon Musk. They just abstract a lot of stuff out of their lives.
And packing your own groceries is something we've grown accustomed to. But if you think about it from first principles, it's really not a good use of everybody's time. Walking around these giant stores, wandering these aisles, and looking for something that should literally be a Google search is just weird. Like how is that more energy or time efficient? How is it efficient for 1,000 households to take 1,000 trips to the store every single weekend?
And when one person could be making all of those trips. It's a waste of food because you try to predict what you're going to buy, you both purchase, and then you throw a third of it away. It's a waste of energy. So many repeated redundant trips and steps and real estate spent. And it's a huge cost to the environment. So much carbon emission. Transcontinental journey for bananas to end up rotting in your fridge.