Allen Gannett is one of the most successful young entrepreneurs in the D.C. area. The 25-year-old founder's competitive marketing intelligence platform, TrackMaven has raised $26 million since it was founded in 2012 and has plans in the works for a growing West Coast operation after it recently acquired San Francisco-based 10Stories.
Gannett has been an entrepreneur since his time at George Washington University. He co-founded SplashNetworks to integrate social ideas into higher education marketing while at school before joining early-stage investor Acceleprise Ventures as a general partner, a role he still holds there.
It was his frustration with the limits of real-time marketing intelligence for the dozens of social networks he handled at SplashNetworks that inspired the creation of TrackMaven. The company now counts huge brands like the NBA and Martha Stewart Living among its clients, with revenue up by more than 100 percent each year. That urge to solve problems with entrepreneurship is something Gannett shares with his husband and fellow GW alum Trever Faden, founder of property management tech startup Atlas Lane.
Gannett brought his sense of marketing and branding to the company right from the beginning, even naming his corgi, Maven, after it, and ensuring that every single aspect of the company reflected that brand, from corgi pictures and art in the office, to creating social media channels for Maven.
In any industry, there is the pitfall of thinking too much alike everyone else. How do you challenge yourself to think differently?
Our fundamental approach to the market is customer oriented. We look for the pain points and how to solve them. When you focus on [customer] needs and how you can create a solution for them, you won't get caught in redoing what hasn't worked.
What is an unlikely place that you find sources of inspiration?
I try to take in lots of input from all sources. It's important to get all points of view [when making decisions]. I like to exercise to help clear my mind.
What job have you had that has had the greatest impact on your career?
My first non-profit job [at Future Civic Leaders] was an education. It taught me the power, the importance of having an impact. [Working there] shaped my management style and how I work with customers. It still does.
There's going to be a lot of consolidation. I think we've hit peak marketing startup.
How will your industry change the most in the next five years?
There's going to be a lot of consolidation. I think we've hit peak marketing startup. There's been 10 times increase in number of startups [since founding TrackMaven] and that's crazy. I think generally things will start reversing. What goes up must come down. I guess the counter-argument is that new technology could [encourage] new marketing startups, but I really think there will be consolidation.
What makes Washington D.C. different when it comes to innovation?
There's a pretty incredible density of SaaS companies here. Lots of big exits or public offerings. There's maybe the highest per capita number of advanced STEM degrees here too. There's just so many really amazing people who work for the government or for government contractors. You don't see that anywhere else. There's a lot wonderful, dedicated, smart, passionate people in D.C.
What’s something that you do every single day, no matter what you have going on?
I meditate every single morning for 10 minutes. It has a dramatic positive impact on my day. I think for CEOs, meditation is ubiquitous.
Who is someone in D.C. you admire?
Harry Weller [partner at New Enterprise Associates]. He joined our board and brought a really amazing perspective. I'd also mention [founder of energy startup Opower] Dan Yates. D.C. is just a great place for businesses that care about their impact in the world.
If you could change something about D.C. or the D.C. tech scene instantly, what would it be?
I'd want more early stage venture funds here. We could definitely benefit from the density of them in places like Boston or Silicon Valley.
Brand discipline seems so important at TrackMaven, why does it matter?
I'm a big believer in brand. There's a lot of neuroscience as to why branding is so important. It's about saying we understand you [the customer], we get the joke, we take ourselves seriously but not too much.
How many things at TrackMaven have a corgi on them or a corgi-related aspect?
I can't even imagine. We have so many and we keep adding more.
What does it mean to be 'on fire?'
It means I'm very flattered.
