Today marks a very special day for Paperclip; the team at HQ are delighted to welcome David Buttress, co-founder and former CEO of Just Eat as a new investor.
Technically, David invested his funds last year as one of the very first investors in this round in the early stages, but as we are only now completing everything it feels like the right time to announce David’s involvement.
David got involved with Just Eat in the early days, back when the startup was based in a basement out of Denmark. From there, David launched the UK side of the business, and ultimately ended up taking the concept from that basement to a multi-billion IPO as CEO. In terms of a founder/CEO, David has essentially completed ‘the game’. Given this, we are immensely proud to have David involved with us, and our opportunity came when he decided to step down from Just Eat to spend more time with his family.
As a bit of background...
Our founder Rich first became of David Buttress back in 2014 when first starting out with Paperclip. It was by chance he accepted an invitation to a networking event at a private bank in London, and David was one of the speakers.
Describing their first meeting Rich recalled, "Firstly, I was blown away by the professionalism of the presentation: it was so slick and polished, and it was mind-blowing to hear way David spoke about things like international expansion. Back then, I recall him saying things like ‘the US has some very well- funded and fast moving competition in this sector, and so we will turn our attention to less developed markets like Latin America in order to rapidly scale and hoover up global market share’. To a pseudo-CEO with an MVP in development, it was a bit of a turning point moment that things could in fact turn real – that my abstract and conceptual business plan might one day actually be delivered.
Secondly, I could detect a slight Welsh twang during David’s presentation, and after some quick Googling I was so utterly inspired to learn that – like me – David was a Welshman! This was a huge motivational leap for me, learning that such an enigmatic co-founder and CEO of one of the UK’s most well-known (and fastest growing) marketplaces was in fact from Wales… meant that perhaps I could make something of Paperclip as well.
Fast-forward four years and I found myself mentoring a 17 year old named Dafydd on his startup idea at the Natwest Accelerator. Dafydd happened to be a friend of David, and so introduced us. The rest is history...
It’s worth noting that I had tried to get in touch with David many times throughout the years on LinkedIn, etc – but clearly someone of this stature is inundated by investment opportunities, and so I never really expected a response. I guess this shows the power of a personal introduction!"
We’re all so excited to benefit from David’s wealth of experience as one of the top marketplace CEOs to have ever come from the UK.
We're still open!
Our latest investment round is still open, and though we have reached our target of £300,000, there is still four weeks remaining for you to get involved.
Published by: Paperclip HQ in News