LegalZoom.com is an online legal technology company that helps its customers create legal documents without necessarily having to hire a lawyer.
Documents include wills and living trusts, business formation documents, copyright registrations, and trademark applications.
Brian Lee and Brian Lui started LegalZoom just before a big recession and they were unable to raise money.
They huddled up in a small condo, and ate ramen noodles almost every day. It started growing.
Finally, they took LegalZoom Public with a valuation of more than $5 billion dollars.
What you could learn from this episode:
- What was their initial idea and why did they scrape it
- How did they come up with their idea?
- What belief they had which made them believe that their idea would succeed.
- How did they get a famous lawyer to become their co-founder, even though they met him for the first time?
- How did they survive the recession and with very little money?
