Introducing Marc-Henri and TwicPics
Q: Could you briefly introduce yourself and your startup, TwicPics?
A: I’m Marc-Henri Spiess, a 57-year-old co-founder of TwicPics. We started this venture in Paris about four years ago, around 2020. At its inception, TwicPics was an early-stage startup. Our service is a SaaS solution, designed to optimize the delivery of images and short videos on web pages. It initially aimed to provide faster web acceleration, enhanced image and video quality, a lower CO2 footprint, and simplified integration for front-end and back-end developers.
I handled business development while my three associates focused on core image and video processing, infrastructure backend on AWS, and multitasking roles like technical marketing and pre-sales support. The concept originated from their experience in customer projects, where they identified a need for efficiently delivering media on web pages. After developing a solution for a specific customer, we pivoted our business exclusively to this niche.
Why Plug and Play?
Q: What led you to join the Plug and Play accelerator?
A: Our encounter with Plug and Play started at the Web Summit in Lisbon around 2019. We met the team from Plug and Play Paris there, and they were scouting specific startups. Intrigued by their program, we applied to join.
Application Process
Q: Can you describe the application process for Plug and Play?
A: The application process was typical, with two main steps. Initially, we filled out a written form. At that time, we were already part of StationF, a large startup campus in Paris. Despite this, we sought additional support from Plug and Play. After the written application, we had to deliver a short, three-minute pitch, followed by a Q&A session. Our first attempt at the pitch didn’t go as planned, and I personally felt quite disappointed. However, we were encouraged to try again in a subsequent batch of pitches. Fortunately, our second attempt was successful, leading to our acceptance into the program.
Daily Life in the Plug and Play Program
Q: What was a typical day like in the Plug and Play program, and what did the program entail?
A: The experience with Lafayette Plug and Play in Paris, sponsored by Galerie Lafayette, was exceptional. The best part was that everything was free. We had dedicated desks and were required to be physically present for up to three months. The program provided access to a diverse range of mentors, at least 10 to 15, which was invaluable.
A significant aspect of Lafayette Plug and Play was its focus on connecting us with large accounts, which were sponsors of the accelerator in Paris. We were introduced to big names like Galerie Lafayette, Camaïeu, and La Redoute, resulting in at least ten substantial account introductions. Additionally, there was a culmination day where we presented our startup to an audience, with about 50% of the room being potential customers. The return on investment was impressive, especially considering that the program was free, which was crucial for us as we didn’t have much funding then.
Q: Did the program include any funding?
A: No, there was no direct funding from the program. There were opportunities, but they mainly targeted more advanced, mature startups. We had discussions about funding, but we didn’t pursue that avenue.
Q: Beyond financial aspects, how did you benefit from the program? Were there any pivotal moments?
A: The most beneficial aspect was the program’s facilitation of introductions to large corporate accounts. As a small, lesser-known startup, it’s challenging to secure meetings with such entities, but the program was instrumental in this regard. Thanks to Lafayette Plug and Play, we closed three to four major accounts, which was a significant achievement for us. The multiple one-hour sessions per week with mentors were also incredibly valuable, but the corporate introductions were the real game-changer.
Challenges and Post-Accelerator Growth at TwicPics
Q: Looking back, were there any challenges you had to overcome during your time at Lafayette Plug and Play?
A: My experience with Lafayette Plug and Play was overwhelmingly positive, with no significant challenges to speak of. In fact, we even introduced L’Oréal, one of our customers then, to the accelerator. L’Oréal eventually became a sponsor for a few years. So, overall, our journey with the accelerator was smooth and filled with positive outcomes.
Q: What has been the status of TwicPics post-accelerator?
A: Since completing the accelerator program, TwicPics has significantly evolved. We participated in about five Parisian accelerators, with Lafayette Plug and Play being unique in its focus on sales and market penetration. At that time, our Monthly Recurring Revenue (MRR) was just under $10k. Over five years, we matured and achieved an Annual Recurring Revenue (ARR) of $1 million. This growth led to our acquisition by Frontify, a Swiss company with revenues close to $50 million per year and over 300 employees. At the time of acquisition, we were a team of 11.
Q: Would you say there’s a correlation between your achievements and completing the Plug and Play program?
A: Absolutely, the program played a crucial role in our growth. It helped us mature, particularly in the area of sales and emphasized the importance of customer acquisition for a startup with a solid product. Lafayette Plug and Play was instrumental in facilitating our entry into large accounts and stands out as one of my favorite accelerators among the five to six we participated in Paris. They had a strict and demanding approach, focusing on their market strategy for three months, which was highly beneficial. I would rank Lafayette Plug and Play as the top accelerator we went through, due to their supportive and effective guidance.
TwicPics’ Future Post-Acquisition and Startup Exit Strategy
Q: Now that TwicPics has been acquired by Frontify, what are the next milestones for the startup?
A: Since the acquisition, TwicPics has been fully integrated into Frontify and is now known as TwicPics by Frontify. Our focus is on integrating our product into the Frontify ecosystem. Personally, I’ve joined the sales team as an Account Executive, concentrating on the EMEA region, particularly the French market. All our employees, including the three other associates, are now fully integrated into Frontify’s operations in Switzerland.
Q: When you started TwicPics, did you ever anticipate being acquired? Was this your ultimate goal?
A: An acquisition was indeed one of our objectives, as it’s a typical startup exit strategy. However, we initially envisioned extending our independent operations up to seven years before considering an exit. The acquisition occurred earlier than planned, primarily because the buyer, Frontify, was an excellent match for us in terms of company culture and philosophy. The CEOs of both companies aligned exceptionally well. Additionally, given the challenging fundraising environment in 2023, we found it more secure and realistic to sell rather than strive to raise new funds, which was becoming increasingly difficult. So, the timing of the acquisition turned out to be perfect for us.
Founder’s Advice
Q: Do you have any advice for startups looking to apply to accelerators, particularly Plug and Play?
A: Yes, I strongly recommend startups engage with multiple accelerators. When we look back at our three-year journey, TwicPics participated in about five to six different accelerators, sometimes even two simultaneously. The learning and growth opportunities they provide are immense.
Although Plug and Play Paris has undergone changes since our time there due to changes in funding and personnel, the value of such programs remains high. My advice to young startups is to be open to learning and to value the advice of more experienced and senior individuals in these accelerators. This guidance is crucial for growth and development.
For TwicPics, our success and eventual sales can be significantly attributed to our experiences with these accelerators, including Plug and Play. They played a critical role in our journey, providing insights, connections, and growth opportunities that were invaluable to our development and eventual success.