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FROM UBER TO IMPACT: A FIRESIDE CHAT WITH RUI BENTO


FROM UBER TO IMPACT: A FIRESIDE CHAT WITH RUI BENTO BY MAZE AND ENDEAVOR

Credits: Nikita from Kroo // @krooteam



IMPACT IS MADE, NOT FOUND - A FOUNDER’S JOURNEY WAS FIRESIDE CHAT WITH
ENTREPRENEUR RUI BENTO, HIGHLIGHTING HIS JOURNEY FROM UBER TO FOUNDING KITCH AND
HIS CURRENT VENTURE IN ELECTRIC MOBILITY. THE CONVERSATION CHALLENGED IMPACT
SKEPTICS TO RECONSIDER THEIR VIEW ON IMPACT, PRESENTING IT NOT JUST AS AVOIDING
HARM, BUT AS AN INTENTIONAL CORE ELEMENT OF SUCCESSFUL BUSINESS MODELS. THROUGH
RUI'S EXPERIENCES WITH KITCH'S PIVOT DURING THE PANDEMIC AND SUBSEQUENT
ACQUISITION, WE WERE REMINDED OF THE IMPORTANCE OF ADAPTABILITY, RESILIENCE, AND
ALIGNING PERSONAL PURPOSE WITH BUSINESS OPPORTUNITIES. ULTIMATELY, IT ARGUES
THAT BUSINESSES DRIVEN BY INTERNAL PURPOSE, AND THE AMBITION OF LEAVING THE
WORLD A LITTLE BIT BETTER THAN WE FOUND IT, CAN BE A FORCE FOR GOOD WHILE ALSO
BEING FINANCIALLY SUCCESSFUL.

Earlier this month, I had the privilege of attending an eye-opening fireside
chat featuring Rui Bento, a serial entrepreneur with an impressive track record,
interviewed by Pedro Ribeiro Santos, a Managing Partner at Armilar hosted by
maze and Endeavor called Impact is made, not found - a founder’s journey.




THE PLAYERS

Pedro, our interviewer, is no stranger to the world of entrepreneurship. With a
background in physics and economics, he has been in the business of selecting
and nurturing scale-up entrepreneurs for 15 years. Surprisingly, or not, he
rides a onewheel. Talk about work-life balance!

Rui Bento, our interviewee, is a kind force to be reckoned with. From managing
Uber's operations in Portugal and Southern Europe to founding Kitch (later
acquired by Glovo), Rui's journey is a testament to the power of adaptability
and purpose-driven entrepreneurship. Maze has invested in Rui as a founder
through the MSM fund and more recently Rui became a Venture Partner at maze
helping us optimise our Venture Capital tool.


Credits: Nikita from Kroo // @krooteam



THE KITCH STORY: PIVOTING WITH PURPOSE

Kitch started as a software stack and dark kitchen for local independent
restaurants. But when the pandemic hit, Rui and his team quickly realised that
their clients' needs had changed dramatically. Instead of sustainable dark
kitchens, these local independent heroes needed help managing online orders to
survive the pandemic, and that is what they did.

This ability to adapt and serve a pressing need didn't go unnoticed. Glovo,
after browsing through about 80 companies in the space, chose to acquire Kitch.
At the time of acquisition, Kitch was already established in Lisbon and Porto,
and expanding in Spain, with a team of 40 and hundreds of restaurants on board.




THE ROLLER-COASTER OF ACQUISITION

Rui's candid sharing about the acquisition process was eye-opening. He discussed
some unexpected moments, like Glovo itself being acquired by Delivery Hero, and
touched on the business dynamics and adjustments that come with being part of a
larger company. It's a stark reminder that even in the world of impact-driven
businesses, market forces play a significant role.


Credits: Nikita from Kroo // @krooteam



IMPACT IS MADE, NOT FOUND

One of the most thought-provoking parts of the chat was the discussion on
impact. Pedro Ribeiro Santos defined impact as 'avoid harm', but Rui pushed this
definition further. He emphasised that true impact lies in intentionality and
having impact at the core of the business model. It's not just about avoiding
harm; it's about actively contributing to solutions. This nuance is reflected in
the way we approach impact at maze and you can read more about it here.

This perspective shift is crucial for skeptics who might view "impact" as a
soft, bendable criterion. Rui's stance makes it clear: impact should be a hard
criterion, integral to the business model itself.




THE NEXT CHAPTER: ELECTRIFYING THE FUTURE

Today, Rui is working on his new startup, Pollen, which aims to simplify and
accelerate the electrification of urban vehicles. It's a perfect example of
finding the sweet spot between business opportunity and positive impact. By
potentially lowering the cost of electrification, Pollen could improve unit
economics for food delivery services while contributing to environmental
sustainability. Rui is also working actively with maze as a Venture Partner
improving how we manage our investment vehicles and supporting early-stage
founders in our portfolio.




LESSONS FOR SKEPTICS AND ENTREPRENEURS ALIKE

 1. Adaptability is key: The Kitch story shows how pivoting to meet urgent needs
    of the people you serve can lead to success and impact.
 2. Impact isn't a buzzword: It's about intentionality and making positive
    change core to your business model.
 3. Prepare for the unexpected: In the world of startups and acquisitions,
    things rarely go as planned. Build resilience into your business model and
    surround yourself with people that have managed acquisitions in the past
    successfully.
 4. Find your purpose: Rui's journey from Uber to Kitch to Pollen illustrates
    the power of aligning personal purpose with business opportunities.



Rui's journey is a powerful reminder that businesses can indeed be a force for
good. For the skeptics out there, it's time to reconsider. The opportunity for
impact is real, and it's not just good for the world – it's good for business
too.



The event was co-organised by maze and Endeavor, a leading global community of
High-Impact Entrepreneurs in underserved markets operating in 40+ countries
where it has helped over 2,600 entrepreneurs in their journeys to scale.



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