Based on his experiences, he developed a methodology based on select management principles to help startups succeed. Lean startup Īfter leaving IMVU, Ries joined venture capital firm Kleiner Perkins as a venture advisor, and six months later started advising startups independently. In 2008 after a new CEO joined IMVU, Ries stepped down as CTO, remaining as a board observer. In 2006, the firm raised $1 million in its first round of venture fundraising from the Seraph Group, eventually raising an additional 18 million. Ries and Harvey did not seek a large amount of initial funding and released a minimum viable product within six months. IMVU aimed to integrate instant messaging with the high revenue per customer of traditional video games. Ries also copyedited an early version of Blank's book on customer development, The Four Steps to the Epiphany.
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IMVU deployed code to production nearly 50 times a day, an unusually rapid development cycle.
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There Ries picked up Blank's method of fast customer feedback, which Blank called "customer development", and applied it at IMVU in combination with lean software development, testing alternate versions of the product and measuring download rates. IMVU investor Steve Blank insisted that IMVU executives audit Blank's class on entrepreneurship at UC Berkeley.
In 2004, Ries left to join one of the founders of, Will Harvey in co-founding IMVU Inc., a social network. He worked with the firm until the 2003 launch of its web-based 3D Virtual World product,.
Career IMVU Īfter graduating, Ries moved to Silicon Valley in 2001 as a software engineer with There, Inc. He took a leave of absence to pursue Catalyst Recruiting, but the company soon folded. While at Yale, he was co-founder of Catalyst Recruiting, an online forum for university students to network with potential employers. He is also the author of The Startup Way, a book on modern entrepreneurial management. Eric Ries (born September 22, 1978) is an American entrepreneur, blogger, and author of The Lean Startup, a book on the lean startup movement.
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