Zola co-founder Shan-Lyn Ma on bringing the wedding industry into the 21st century | Found Podcast

22 Feb 2024 (9 months ago)

Zola's Founding and Initial Strategy

Shan Linma, co-founder and CEO of Zola, aimed to create a one-stop shop for newly engaged couples to plan their entire wedding journey.
The idea for Zola came from Shan's personal experience of attending numerous weddings and recognizing the need for a better wedding registry and planning platform.
Zola started by conducting user research through one-on-one conversations with engaged couples to understand their pain points and needs.
They designed and tested prototypes based on user feedback and iterated on their product until they had a solid foundation for Zola.

Initially, Zola flew under the radar of big box retailers who were focused on other disruptions in the industry.
As Zola gained traction and brand recognition, partnerships with major stores were formed to offer a wider range of products.
Zola's seed funding came from Kevin Ryan, a well-known entrepreneur and investor, who had worked with Shan and her co-founder previously.

Zola's success is attributed to its product-centric approach, offering a seamless ecosystem of best-in-class products that cater to couples' needs.
The company strategically expanded its product offerings based on customer feedback, adding features such as wedding websites, save-the-dates, invitations, and a venue and vendor marketplace.
Zola prioritizes inclusivity and has a strong stance against discrimination. Vendors must sign up for vendor terms that prohibit discrimination based on race, religion, sexual orientation, and other dimensions.
Zola's inclusive values are reflected throughout the user experience, from allowing couples to specify their identities without assumptions to featuring diverse images on its website.

During the pandemic, Zola quickly adapted by launching features such as a message board for couples to communicate postponement plans and a virtual weddings feature.
The company also provided free change-the-date cards to couples who had ordered save-the-dates or invitations.

Shan-Lyn Ma, co-founder of Zola, shares her experience and advice on starting a business.
She emphasizes the importance of learning from experienced individuals and gaining exposure to various aspects of a business, even if it's not directly related to your role.
Ma highlights the value of launching a business within the safety net of a larger organization, as it provides an opportunity to test ideas and gain experience before venturing out on your own.
She stresses the significance of prioritizing finance and accounting functions early on to avoid unnecessary stress and challenges in the future.

Zola is expanding into new life stages beyond weddings, such as baby registries, to meet the evolving needs of their customers.
The company is exploring the use of AI to support couples in various ways, including helping them write thank-you notes.

Zola has faced criticism for allowing couples to book weddings at controversial venues such as slave plantations and prisons.
The company has since worked with advocacy organizations to become more inclusive and prevent such bookings.
The wedding industry is vast and profitable, despite being a one-time purchase for most people.
The sustainability and profitability of the wedding industry are questionable, given its reliance on one-time purchases and upcharging for services.
The wedding industry is often seen as a women's industry, with planning being viewed as a feminine aspect.
However, same-sex couples challenge this perception as there is no woman to set up the wedding website in these cases.
Some companies in the wedding planning space have all-male founding teams, indicating that the industry may be more universal than perceived.
Investors should consider backing more wedding planning businesses as guests are suffering due to poor planning.