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  • September 2023
  • Case
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Ada: Cultivating Investors

By: Reza Satchu and Patrick Sanguineti
  • Format:Print
  • | Language:English
  • | Pages:18
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Abstract

Mike Murchison, co-founder and CEO of Ada, has an enviable dilemma. Launched in 2016 by Murchison and his co-founder David Hariri, Ada is an AI-native company that aims to revolutionize how businesses approach customer service. The company has already attracted a buzz, having successfully raised its Series A in 2018 and securing dozens of enterprise customers. Thanks to the strength of Ada's product and Murchison's unconventional approach to fundraising, numerous investors have indicated their excitement for the startup's next round. Now, on a short but packed trip to San Francisco to kick off their Series B in January 2020, Murchison must decide which investor to select, as potential contenders clamor like suitors with ostentatious displays of intent. In so doing, he and his team must wrangle with the tradeoffs of valuation, dilution, reputation, and more in considering what best suits the vision they have for Ada's future.

Keywords

Founder; Fundraising; Business Startups; Decisions; Entrepreneurship; Venture Capital; AI and Machine Learning; Technology Industry

Citation

Satchu, Reza, and Patrick Sanguineti. "Ada: Cultivating Investors." Harvard Business School Case 824-090, September 2023.
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About The Author

Reza R. Satchu

Entrepreneurial Management
→More Publications

Related Work

    • February 2024
    • Faculty Research

    Ada: General Updates

    By: Reza Satchu and Patrick Sanguineti
    • February 2024
    • Faculty Research

    Ada: On Fundraising and Cofounding

    By: Reza Satchu and Patrick Sanguineti
    • February 2024
    • Faculty Research

    Ada: Advice for Potential Founders

    By: Reza Satchu and Patrick Sanguineti
Related Work
  • Ada: General Updates By: Reza Satchu and Patrick Sanguineti
  • Ada: On Fundraising and Cofounding By: Reza Satchu and Patrick Sanguineti
  • Ada: Advice for Potential Founders By: Reza Satchu and Patrick Sanguineti
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