MVP (Minimum Viable Product)

Definition

A half-baked version of your product with just enough features to validate whether customers actually want it—or to prove they don't.

Example Usage

Our MVP is basically a spreadsheet with a nice UI, but it's helped us validate that people will pay for this problem.

Origin

Concept popularized by Eric Ries in 'The Lean Startup' (2011), though originated earlier in software development.

Fun Fact

Dropbox's original MVP was a simple video showing file syncing—no actual product—and it drove sign-ups by 75%.

Source: Lean Startup and agile development methodology

Related Terms

Intermediate

priced round

A funding round where the company's valuation is explicitly set and shares have a specific price—as opposed to convertible instruments where everyone kicks the valuation can down the road. Forces uncomfortable conversations about what the company is actually worth.

🚀 Startup / VC

Beginner

logo collecting

When a startup prioritizes acquiring recognizable brand-name customers purely for credibility, even if those deals are unprofitable or unsustainable. It's the corporate equivalent of name-dropping at parties.

🚀 Startup / VC

Intermediate

capital call

The formal demand from a general partner to limited partners to wire their committed funds, usually with 10-30 days notice and an implied "or else" hanging in the air. It's how venture funds move committed money from promised to deployed.

🚀 Startup / VC

Advanced

SAFT

Simple Agreement for Future Tokens—a legal instrument for investing in future cryptocurrency tokens, for when you want equity but make it crypto.

🚀 Startup / VC

Beginner

lead investor

The VC firm that sets the terms and does the heavy lifting in a funding round, while other investors gratefully follow along. Someone has to negotiate while everyone else free-rides.

🚀 Startup / VC

Advanced

co-investment rights

Special privileges allowing certain LPs to invest additional money directly into specific portfolio companies alongside the fund, usually with lower or no fees. The VIP backstage pass of venture investing.

🚀 Startup / VC

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