Introducing Donatas Smailys and Billo
Q: Can you introduce yourself and your startup?
A: I’m Donatas, the CEO and co-founder of Billo. We’ve created a unique platform that specializes in user-generated content (UGC) video ads, optimized for high performance on popular social media platforms like TikTok and Meta. Our focus is on empowering brands to leverage authentic, engaging short video content that resonates with their audience, improving their conversion metrics.
Q: How did the idea for Billo come about?
A: The journey to Billo began while my co-founder and I were developing a micro-influencer marketing platform. We recognized early on that we were tackling two major challenges simultaneously: content creation and distribution. Given the highly competitive nature of the influencer marketing space, we sought a breakthrough by focusing on one specific problem—content creation. Our hypothesis was that effective content could come from individuals regardless of their follower count on social media.
To validate our assumptions, we conducted various tests to identify the right type of content and the ideal creators for our platform. Our efforts led us to discover a significant opportunity within the U.S. market, particularly for user-generated content (UGC) videos tailored for Facebook ads. This focus on UGC video content was our initial foray into what would become Billo’s niche, marking us as pioneers in this space. Since our start in 2020, we’ve created over 150,000 videos and have proudly expanded our services to include working closely with TikTok and Meta.
Why SOSV?
Q: What motivated you to join SOSV?
A: Initially, our motivation for joining SOSV was driven by a pressing need for funding and a desire to refine our business direction. At the time, our ideas were broad and centered around leveraging a diverse group of people for content creation, beyond just influencers. This was the path we embarked on, and SOSV played a pivotal role in helping us focus and evolve our concept into what Billo has become today.
Our journey with SOSV began serendipitously. We joined their MOX accelerator in Taiwan after a chance encounter with one of the partners, William Bao Bean, in Hong Kong. Meeting him at an after-party, following one of the last events we were considering attending, proved to be a decisive moment. Despite the casual setting, when we pitched our idea to William, he saw potential in it and promised to follow up, which, to our pleasant surprise, he did. This led to a more formal discussion, and shortly after, we found ourselves in Taiwan, embarking on a crucial phase of our development under SOSV’s guidance, now known as Orbit Startups.
This experience was a significant turning point for us, emphasizing the importance of being open to opportunities, regardless of the setting. SOSV’s support has been instrumental in narrowing our focus and propelling us toward our current success. Their belief in our vision, coupled with their hands-on approach, provided us with the resources and mentorship needed to navigate the early and uncertain stages of our startup journey. Today, more than 4 years later, we maintain frequent communication and they are proactive with advice.
SOSV Application Process
Q: Did joining SOSV involve a traditional application process for you?
A: Our path to joining SOSV was somewhat unconventional, rooted more in personal connections than formal procedures. The initial step was not through an online application but rather a pitch, a direct human interaction that set everything in motion. This personal engagement with William Bao Bean was the catalyst.
Following our conversation, we transitioned into what could be considered an application process, where we provided detailed information about ourselves and our startup. However, this phase felt more like a natural progression of our initial discussion rather than a formal application. What stands out is the fluidity of the process; it began with a conversation, and as we engaged more, it naturally evolved into a deeper evaluation of our potential. We simply responded to the questions posed to us, allowing the process to unfold organically. This approach underscores the importance of human connections in the world of startups and accelerators, highlighting how pivotal interactions can lead to significant opportunities.
Q: What do you believe distinguished your company for acceptance into SOSV?
A: In my view, the key factor SOSV looks for in companies and founders is experience and confidence, both in themselves and in their vision. It’s about ensuring that there’s alignment between what founders say and how they feel, demonstrating a genuine commitment to their mission. Early-stage investors, like SOSV, prioritize trust in the founders, evaluating whether they are the type of individuals who are willing to go the extra mile and whether their ideas and thought processes hold water.
For us, it was also about the seriousness with which we approached our goals. My co-founder and I are deeply passionate about our work; when we commit to something, we do so wholeheartedly. This authenticity and dedication likely resonated with SOSV, emphasizing the importance of the team’s trustworthiness and commitment. Thus, while it may not be a groundbreaking revelation, the essence of our acceptance can be attributed to the trust SOSV placed in us as a team. Their evaluation process goes beyond just assessing the business idea; it deeply considers the people behind the idea, their reliability, and their capacity to execute their vision with unwavering dedication.
Inside SOSV Accelerator Program
Q: What was your experience like in the SOSV program?
A: Arriving in Taiwan for the SOSV program was a blend of hard work and enjoyment, ultimately becoming one of the best startup-related experiences I’ve ever had. The atmosphere was incredibly inspiring, largely due to William Bao Bean’s influential mindset and his unique way of thinking.
The program itself was quite structured, focusing significantly on preparing us to pitch our business idea. This preparation not only improved our pitching skills but also clarified our business model and objectives, helping us to define and target our next milestones more effectively.
The commitment required for the program was total; we needed to be there full-time, fully immersed in the experience. This immersive approach was crucial, ensuring that we dedicated our full attention and effort to refining our pitch and, by extension, our business strategy. The structured yet flexible environment provided by SOSV in Taiwan played a key role in our development, offering a unique blend of learning, mentorship, and hands-on practice that was both challenging and rewarding.
Q: Did the SOSV program provide access to mentors?
A: Mentorship was a crucial component of the SOSV program, featuring a rotating roster of experienced mentors. Even years after participating in the program, the relationship with these mentors continues. Just this week, I’ve had a call with one, and there’s another scheduled for next week with a Partner to discuss some matters. These interactions have been valuable, offering insights and guidance that have directly impacted our business, especially in the early stage. In fact, one of the most promising introductions from a venture capitalist, which has the potential for a tangible effect on our business, came through SOSV very recently.
Q: Does the SOSV accelerator program offer funding?
A: In our experience with SOSV, the funding came as a fixed sum alongside the acceleration program. This approach simplified the initial investment phase, allowing us to focus more on the development and scaling of our business rather than the intricacies of negotiation typically associated with funding rounds. In our case, they did choose to follow on in our next funding rounds.
Achieving Milestones Inside SOSV’s Program
Q: What significant milestone did you achieve during the SOSV program?
A: A pivotal moment for us in the SOSV program was gaining clarity on what our next target should be, which was not evident before we joined. This realization was crucial in guiding our efforts toward achieving product-market fit, a milestone that is challenging for startups to pinpoint. It may sound like a broad achievement, but understanding our direction and focusing our development was crucial at the time.
Additionally, taking our pitch to Singapore to present to investors was a part of this process, further honing our focus and direction. The program’s holistic approach played a crucial role in achieving this milestone, setting a clearer path for our business’s future.
Billo’s Current Status and Future Milestones
Q: What is the current status of Billo?
A: Last year, Billo achieved over $7 million in top-line revenue and our team has grown to nearly 50 members. We’ve established direct working relationships with major platforms like TikTok and Meta, focusing intensely on optimizing ad performance on these channels. This clear focus has enabled us to become highly specialized in our domain, concentrating all our efforts on mastering ad performance for these two platforms.
Final Advice for Founders Considering SOSV
Q: Do you have any advice for founders considering applying to SOSV?
A: My advice to founders contemplating applying to SOSV is straightforward: just do it. Explore the various programs SOSV offers and if you feel a connection or see a program that aligns with your startup’s goals, go for it. This is particularly crucial for early-stage startups. The key is to stop overanalyzing and start taking actionable steps