All-In Podcast - How to Hustle Your Way Into a Deal: Pokemon Go Edition 💰
The investor recounts their early involvement with Niantic, initially attracted by the company's innovative game Ingress, which was part of a larger mapping initiative by Google. They observed unusual player behaviors, such as traveling globally to participate in the game, which hinted at the game's potential beyond entertainment. Recognizing the opportunity when Niantic spun out from Google, the investor leveraged connections to meet John Hanke, Niantic's founder. Despite initial resistance due to Niantic's strong backing from companies like Nintendo and Google, the investor persisted, ultimately gaining access to the company and contributing value through their network and resources. This strategic investment paid off as Niantic grew into a major player in augmented reality gaming.
Key Points:
- Niantic's game Ingress was part of a larger Google mapping project, indicating its strategic potential beyond gaming.
- The investor leveraged personal connections to gain access to Niantic after its spin-out from Google.
- Despite initial resistance, persistence and offering value led to a successful investment in Niantic.
- Niantic's evolution from a Google project to an independent entity was crucial for early investors.
- The investor's involvement provided insights into the potential of augmented reality gaming.
Details:
1. 🎮 From Alphabet Spin-off to Scopely Acquisition
- Niantic, known for developing Pokémon Go, was acquired by Scopely, marking a significant event in the gaming industry as Scopely expands its portfolio.
- The speaker was an angel investor in Niantic, indicating early investment involvement in a successful venture and highlighting the importance of strategic early-stage investments.
- The speaker's involvement with Niantic spanned over a decade, showcasing long-term commitment to the company, which is crucial for nurturing innovative companies like Niantic.
- Niantic's significance in the gaming industry is underscored by its successful launch of Pokémon Go, which became a cultural phenomenon, demonstrating the potential impact of strategic acquisitions.
2. 🗺️ Ingress: The Game Behind the Mapping Revolution
2.1. Player Engagement and Extraordinary Actions
2.2. Game Mechanics and Global Influence
3. 🔍 Unraveling Google's Mapping Strategy Through Ingress
- Ingress players are engaged in creating large triangles, which indicates a level of dedication and strategy in gameplay.
- Players are actively taking pictures of points of interest, which Google uses, suggesting these activities are contributing to Google's mapping efforts.
- The realization that Ingress is part of Google's larger mapping plan implies that the game is more than just entertainment; it serves a strategic purpose for data collection.
- The connection between Ingress and Google's mapping strategy is likened to Pokémon GO, indicating that these games serve dual purposes of entertainment and data collection for mapping.
4. 🚀 Seizing the Moment: Investing in Niantic
- The narrator utilized a personal connection from a prior investment in Hint Water to establish a meeting with John Hanky, CEO of Niantic, emphasizing the critical role of leveraging existing networks for new business opportunities.
- Initially, John Hanky was resistant due to existing ties with Nintendo and Google. However, the narrator's persistence and demonstration of unique value led to a successful negotiation breakthrough, highlighting the importance of perseverance and clear value proposition in business deals.
- An engineer accompanying the narrator received a job offer from Niantic, showcasing how engaging with high-profile companies can lead to unexpected professional opportunities.
- The narrator was entrusted with a key card to Niantic's office, signifying trust and the potential for future collaborations, underlining the significance of building and maintaining trust in business relationships.