{"id":5065,"date":"2026-07-28T16:37:02","date_gmt":"2026-07-28T16:37:02","guid":{"rendered":"https:\/\/relocationobserver.com\/?p=5065"},"modified":"2026-07-28T16:37:02","modified_gmt":"2026-07-28T16:37:02","slug":"from-3k-a-month-to-a-9-figure-valuation-a-first-time-founder-story","status":"publish","type":"post","link":"https:\/\/relocationobserver.com\/?p=5065","title":{"rendered":"From $3K a Month to a 9-Figure Valuation: A First-Time Founder Story"},"content":{"rendered":"<div>\n<div>\n<!-- do not apply CSS styles to this element! --><\/p>\n<div>\n<p>\n\tIt was 2019. Jason Alco was a year out of college with a degree in computer science, working his first job as a software engineer and giving himself 10 months to find an idea worth quitting for. <\/p>\n<p>Read more <a href=\"https:\/\/relocationobserver.com\/?p=5063\">\u2018Your Friends &amp; Neighbors\u2019 Star Lena Hall Joins Chad Michael Murray in \u2018Disconnecting Peter\u2019 (EXCLUSIVE)<\/a><\/p>\n<p>\n\tAt a party in the Hollywood Hills, Jason met someone who, after chatting, said, \u201cLet\u2019s connect,\u201d and pulled out what looked like a credit card. <\/p>\n<p>\n\tInstead, he tapped the card to Jason\u2019s phone and a push notification appeared\u2026 <\/p>\n<p>\n\tJason\u2019s eyes lit up.<\/p>\n<p>\n\t\u201cHow did that work without downloading an app?\u201d <\/p>\n<p>\n\t\u201cIt\u2019s a brand-new technology.\u201d<\/p>\n<p>\n\tJason left the party unable to stop thinking about what he had just seen, and he started researching it right away.<\/p>\n<p>\n<strong>The Prototype<\/strong><\/p>\n<p>\n\tJason ordered various parts online and built an early prototype. Once he confirmed it worked, he brought it to his friend and roommate, Nick Eischens. <\/p>\n<p>\n\tHe walked into the living room and said, \u201cNick, check this out\u2026\u201d <\/p>\n<p>\n\tHe tapped Nick\u2019s phone with the prototype, and it instantly shared Jason\u2019s Instagram. <\/p>\n<p>\n\tNick was blown away. <\/p>\n<p>\n\t\u201cThat\u2019s magic,\u201d he said. <\/p>\n<p>\n\tWith shared enthusiasm, the two skipped any sort of market research and began building right away. The first product was simple: a small NFC tag (about the size of a quarter) placed on the back of a phone. Tap it against another phone, and a digital profile opened instantly on the recipient\u2019s device without needing to download an app. <\/p>\n<p>\n\tPopl was officially launched.<\/p>\n<p>\n<strong>First Money In<\/strong><\/p>\n<p>\n\tPopl\u2019s first investor came from a chance encounter. <\/p>\n<p>\n\tOne of Popl\u2019s associates was in Las Vegas during one of the world\u2019s largest technology conferences when he overheard someone approach the concierge. <\/p>\n<p>\n\t\u201cExcuse me, miss, do you happen to know where the [name withheld] cocktail party is?\u201d <\/p>\n<p>\n\tOf the roughly 150,000 people attending the conference, [name withheld] was hosting an intimate gathering of about 70 influential people. Among the guests was Neal Batra, a well-connected entertainment attorney and prolific angel investor. <\/p>\n<p>\n\tThe associate turned to him. <\/p>\n<p>\n\t\u201cDude, you\u2019re going to the [name withheld] party?\u201d <\/p>\n<p>\n\t\u201cYeah. Are you?\u201d <\/p>\n<p>\n\t\u201cNo. Can you get us in?\u201d <\/p>\n<p>\n\t\u201c\u2026No.\u201d <\/p>\n<p>\n\tA few awkward seconds passed. Then the conversation continued. <\/p>\n<p>\n\tPopl got pitched. <\/p>\n<p>\n\tWeeks later, Neal met with the Popl team in Los Angeles to vet the team and the technology. He pointed out the existential risk that a major smartphone manufacturer could integrate the same functionality. This was years before the world\u2019s biggest phone manufacturer introduced \u201cNameDrop.\u201d He determined it was a worthwhile risk. Remote negotiations followed. <\/p>\n<p>\n\tNeal had arranged for three of his portfolio companies to serve as sponsors for some of Paris Fashion Week\u2019s most exclusive afterparties. While there, he signed and wired, becoming Popl\u2019s first investor. <\/p>\n<p>\n\tShortly after securing its first check, Popl raised a friends-and-family round backed by a couple of early angels, including Jason\u2019s father and Popl advisor, Mike Alvarez Cohen.<\/p>\n<p>\n<strong>Breakout<\/strong><\/p>\n<p>\n\tJust weeks after Popl launched, the world shut down. The pandemic froze the in-person interactions the product had been built around. <\/p>\n<p>\n\tAt the same time, a new social media platform was emerging as a force in how everyone consumed content, giving the team an unexpected path forward. <\/p>\n<p>\n\tJason determined that a video simply showing Popl in action was all that was needed to replicate the feeling he had when he first encountered it. Using that formula, the team began posting videos that showed the product in seconds: one phone tapping another, followed by the instant appearance of a digital profile. The format was visual, surprising and easy to understand without explanation. <\/p>\n<p>\n\tJason called his friend Arev Davtian, an emerging content creator known as @endicci, and they met at their college campus gym. <\/p>\n<p>\n\tThere, Jason, Nick and Arev filmed a simple video: Arev walked up to the camera and said, \u201cNice to meet you.\u201d <\/p>\n<p>\n\t\u201cNice to meet you too.\u201d <\/p>\n<p>\n\t\u201cOh Arev, I never got your phone number.\u201d <\/p>\n<p>\n\t\u201cI got you.\u201d <\/p>\n<p>\n\tShe turned around, tapped Jason\u2019s phone with her Popl and walked away as if it were already a normal way to share contact information. <\/p>\n<p>\n\tThat was it. <\/p>\n<p>\n\tThe video went viral, reaching 80 million views across more than 160 countries. Orders surged. Popl was now struggling to keep up with demand. It was a chaotic sprint by a small group of recent college grads to build out the tech, fulfillment and customer service.<\/p>\n<p>\n<strong>Y Combinator<\/strong><\/p>\n<p>\n\tFor their next move, the Popl team applied to Y Combinator\u2026 and was rejected. <\/p>\n<p>\n\tThe team kept growing and decided to apply again for the next batch. <\/p>\n<p>\n\tThis time around, instead of getting an acceptance right away, the founding team received an email from Michael Seibel, Y Combinator\u2019s CEO at the time. <\/p>\n<p>\n\tIt read along the lines of \u201cIf you can share your bank statements showing the volume of revenue you say these Popl devices are doing, then you\u2019re in.\u201d <\/p>\n<p>\n\tThe Popl team sent all their statements for full transparency, and waited. Two days later, Popl was accepted into Y Combinator\u2019s Winter 2021 batch. <\/p>\n<p>\n\tY Combinator was a pivotal moment for the company.<\/p>\n<p>\n<strong>The Seed Round<\/strong><\/p>\n<p>\n\tAfter completing Y Combinator, Popl presented the company to thousands of investors on a video conference call as part of Y Combinator\u2019s Demo Day. <\/p>\n<p>\n\tThe two weeks that followed were a whirlwind of investor meetings and high-stakes decisions. <\/p>\n<p>\n\tThe team received competing offers to lead the round, ultimately choosing between Justin Kan\u2019s Goat Capital and a well-known venture firm with more than $40 billion under management. On the day a decision was needed to choose one, Jason and Nick walked through sunny Beverly Hills for hours, debating which partner would best shape Popl\u2019s future. <\/p>\n<p>\n\tAfter a strong back-and-forth, they chose Goat Capital. Justin Kan\u2019s close relationship with Michael Seibel and Y Combinator made him the stronger fit, and their better terms allowed the founding team to keep more of the company they were building. <\/p>\n<p>\n\tPopl raised its seed round at a $22 million valuation.<\/p>\n<p>\n<strong>Popl HQ: Beverly Hills<\/strong><\/p>\n<p>\n\tFresh off the raise, the team felt they were finally onto something big. <\/p>\n<p>\n\tThat year, Popl grew more than 1,300%. <\/p>\n<p>\n\tThe team used that momentum to build something just as important: community. Popl rented a Beverly Hills mansion, where eight members of the founding team moved in, including Popl\u2019s VP of product and Jason\u2019s brother, Ryan Alco. <\/p>\n<p>\n\tThe house became the center of company life. Friday dinners at some of Los Angeles\u2019 best restaurants became a tradition, alongside team retreats, events, collaborations and shared milestones. They worked hard, celebrated the wins and experienced countless firsts together, with one goal underneath it all: growing Popl. <\/p>\n<p>\n\tThe Beverly Hills headquarters served as a hub for the growing Popl community, hosting customers, partners, investors, friends and family for a series of standout events. During LA Tech Week, Popl was selected to host the 2022 Forbes 30 Under 30 event for L.A., bringing the broader ecosystem together to celebrate the company\u2019s momentum.<\/p>\n<p>\n<strong>Growing Up<\/strong><\/p>\n<p>\n\tAs growth continued, Popl faced a new challenge: turning a viral hardware product into a sustainable tech company. <\/p>\n<p>\n\tPopl went from selling NFC tags to teens, to building a digital business card software platform. The hardware opened the door, but the software created lasting value, giving users a way to manage their identities, share information and build relationships at scale. <\/p>\n<p>\n\tAs adoption among professionals took off, the opportunity expanded from individual users to entire organizations. The product spread into national real estate brokerages, major basketball franchises and eventually 90% of the Fortune 500. <\/p>\n<p>\n\tOne of many new customers was the Brooklyn Nets. Popl closed a blockbuster five-year deal with the organization. Once signed, Jason flew out to the Brooklyn Nets facility to onboard the team. <\/p>\n<p>Read more <a href=\"https:\/\/relocationobserver.com\/?p=5061\">Rick Moranis Ended Acting Retirement After Nearly 30 Years and Says \u2018It Was Very Strange\u2019 on \u2018Spaceballs 2\u2019 Set: \u2018I Felt Like I Was in a Time Warp\u2019<\/a><\/p>\n<p>\n\tThe partnership depended on successfully connecting Popl\u2019s digital business cards to the Nets\u2019 highly customized CRM setup. If the integration failed, the deal could have fallen apart before it ever began. During the first technical meeting, Jason was able to solve each obstacle live, solidifying the partnership and earning an immediate vote of confidence from the Nets staff. <\/p>\n<p>\n\tOnce onboarding was complete, the team celebrated by sitting courtside at that evening\u2019s Nets game.<\/p>\n<p>\n\tDespite significant growth, Popl started to see limits to scaling.<\/p>\n<p>\n<strong>Growing Pains<\/strong><\/p>\n<p>\n\tFocused on digital business cards, the company went out to raise a Series A in 2022. It entered serious conversations with several leading venture capital firms. <\/p>\n<p>\n\tJason got far along in talks with a partner at Silicon Valley\u2019s most recognizable venture capital firm, with early investments in some of the most successful companies of our generation. In the final meeting, they dove into every nuance of Popl from the business model to customer support systems to the 10-year vision. <\/p>\n<p>\n\tDays later, the decision arrived via email. <\/p>\n<p>\n\tIt was a pass. <\/p>\n<p>\n\tWhile digital business cards had become a meaningful business, investors did not believe the category was large enough to generate venture-scale returns. <\/p>\n<p>\n\tIt became clear that something needed to change.<\/p>\n<p>\n<strong>A New Path<\/strong><\/p>\n<p>\n\tThe failed fundraise forced Popl to look more closely at how its customers were using the product. <\/p>\n<p>\n\tA pattern emerged. <\/p>\n<p>\n\tPopl\u2019s most engaged users were not individuals sharing digital business cards. They were sales teams on trade show floors using digital cards in reverse. Instead of sharing their own information, they were using Popl to capture everyone else\u2019s. <\/p>\n<p>\n\tAround those teams was a largely untracked market: in-person events. <\/p>\n<p>\n\tEvent badge scanners had barely evolved in decades. Business cards disappeared into pockets. Notes were scattered across phones and spreadsheets. Follow-ups never happened because the information captured during conversations rarely made its way into the systems responsible for generating revenue. <\/p>\n<p>\n\tOne night at Popl\u2019s Beverly Hills HQ, Bryce Alsten, Popl\u2019s VP of marketing, asked the group, \u201cWhat if users could scan any event badge with our app? We could take the name and company printed on it, then enrich that into an email, phone number, and full contact profile.\u201d <\/p>\n<p>\n\tThe team called the idea \u201cevent lead capture.\u201d<\/p>\n<p>\n<strong>Betting the House<\/strong><\/p>\n<p>\n\tA couple of months later, Popl moved from Los Angeles to New York. <\/p>\n<p>\n\tThis brought the team closer to enterprise customers, major events and the market it was beginning to pursue. <\/p>\n<p>\n\tOn the trip from L.A. to N.Y.C., Jason had an epiphany. He turned to Ryan and Bryce, and said: <\/p>\n<p>\n\t\u201cGuys, I think we go all in.\u201d<\/p>\n<p>\n\tHe did not mean building event lead capture as just another feature. He meant a full pivot, which meant betting the entire company on it. The decision put the existing brand, product roadmap and strong revenue stream at risk. <\/p>\n<p>\n\tThat moment marked the beginning of Popl\u2019s move into event lead capture.<\/p>\n<p>\n<strong>The Data Engine<\/strong><\/p>\n<p>\n\tThe vision depended on a difficult technical assumption: a phone camera could replace rented badge scanners and work across any event. <\/p>\n<p>\n\tAn event badge typically includes a name and company, but no email address, phone number, social profiles or CRM context. For Popl to become the source of truth for event lead capture, the system needed to identify the person from a badge, enrich their data, verify the information and deliver it quickly enough to feel immediate. <\/p>\n<p>\n\tJason asked several colleagues in the data enrichment space if this sort of product was feasible, and they all had the same sentiment: \u201cAbsolutely not.\u201d <\/p>\n<p>\n\tThe market\u2019s skepticism was justified. The available data was inconsistent. AI models were less capable in 2024. Data providers returned conflicting results. Similar names, outdated emails and incomplete professional profiles created edge cases everywhere. <\/p>\n<p>\n\tSo Popl decided to build its own AI-native data engine. The system combined AI-powered OCR with a waterfall across more than 20 hand-selected data partners, then used AI agents to find the info those providers missed and verify the results with human-like accuracy. <\/p>\n<p>\n\tIt took two years to make the data engine reliable enough for teams to trust Popl as their source of truth for event lead capture. <\/p>\n<p>\n\tIf it hadn\u2019t worked, Popl would have given up a functional business, damaged the brand and left itself without a clear path forward. <\/p>\n<p>\n\tBut it worked.<\/p>\n<p>\n<strong>The Rebuild<\/strong><\/p>\n<p>\n\tWith the new direction clear, Popl needed to revamp the team. <\/p>\n<p>\n\tAfter leading Popl\u2019s product development from its earliest days, Ryan Alco was promoted to chief product officer, and Bryce Alsten became vice president of marketing. <\/p>\n<p>\n\tDieter Heren joined as head of revenue operations and rose to chief revenue officer, bringing the B2B sales leadership experience the young team needed to scale. Natalie Miller joined as vice president of operations, bringing the level-headed leadership and meticulous attention to detail that became the cherry on top of the new team. <\/p>\n<p>\n\tThat same year, some of Popl leadership attended the largest music festival in Las Vegas, where they had a table on the festival\u2019s famous Skydeck. They struck up a conversation with the group at the neighboring table, which just so happened to include a talented engineer who had recently left ClickUp, the billion-dollar project management platform. <\/p>\n<p>\n\tJason was introduced to Jorgen Phillips, and the two quickly bonded as \u201ctwo tech guys who like EDM.\u201d Popl was looking for its next CTO, and as the conversation progressed, it became clear Jorgen could be the perfect fit. <\/p>\n<p>\n\tThe timing was ideal. <\/p>\n<p>\n\tJorgen joined to scale Popl\u2019s enterprise-grade data infrastructure and, alongside Jason, architected its AI-native data engine, combining speed, industry knowledge and strategic thinking to create one of the company\u2019s most valuable and difficult-to-replicate competitive advantages.<\/p>\n<p>\n<strong>Coming Into Focus<\/strong><\/p>\n<p>\n\tOne night in 2025 at a well-known members\u2019 club in New York City, Jason reconnected with Neal Batra, Popl\u2019s first investor. It was the first time they had sat down to discuss the company\u2019s new event lead capture business. <\/p>\n<p>\n\tNeal had taken early positions in several leading AI companies over the years and started pointing out the risks of relying solely on the tech Popl had built. After Jason explained who the key players were and how the rapidly growing industry worked, they strategized about how best to turn potential long-term risks into company moats. <\/p>\n<p>\n\tOver the months that followed, Popl put that strategy into motion, securing back-to-back agreements that exponentially strengthened its position in the market. <\/p>\n<p>\n\tFirst, Popl launched Popl for Claude, a native AI connector (MCP) that lets teams interact with their in-person event data directly inside Claude and other leading AI platforms. The push to make Popl AI-native was driven by several key team members, including one of Popl\u2019s lead engineers, Christian Ciabattoni, Jason\u2019s longtime friend from college. <\/p>\n<p>\n\tThen, Popl announced a long-term data relationship with Apollo.io, one of the world\u2019s leading B2B data platforms. This strengthened the data foundation behind every lead captured through Popl. <\/p>\n<p>\n\tFinally, Popl secured a category-exclusive option agreement with RocketReach \u2014 another leader in data, whose database spans 700 million professional profiles. Jason worked closely with RocketReach CEO Scott Kim to structure the deal. <\/p>\n<p>\n\tFrom the outside, the announcements looked like momentum arriving all at once. The announcements spanned a few weeks. The work behind them took several months. <\/p>\n<p>\n\tWith its vision sharpened, product proven, team in place, positive cash flow and strategic relationships now established, Popl enters its next stage with momentum and a clear position at the forefront of an emerging market. <\/p>\n<p>Read more <a href=\"https:\/\/relocationobserver.com\/?p=5059\">FCC Slammed by Former Agency Officials Over Review of ABC\u2019s Licenses: \u2018An Assault on Free Speech Disguised as Regulatory Process\u2019<\/a><\/p>\n<p>\n\tAnd Popl\u2019s next moves are already underway.<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Popl founder and CEO Jason Alco on launching and iterating, a Beverly Hills HQ, the fundraise that failed and the pivot that bet the company<\/p>\n","protected":false},"author":1,"featured_media":5064,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[4026],"class_list":["post-5065","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-biz","tag-popl-partner"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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