Tank Talks
Tank Talks By Ripple Ventures
Dan Park, CEO of Clutch on The Future of Auto-Tech

Dan Park, CEO of Clutch on The Future of Auto-Tech

The market for cars in 2021 has been one of the most pandemic-affected markets. The supply of both new and used cars has never been tighter and our guest today is seeing it from all sides. Dan Park is the CEO of Clutch, Canada's first and largest online car retailer. We talk to Dan about the automotive industry, his path to becoming CEO, and about his plans for the $60M he recently raised from Canaan Partners, FJ Labs, and Real Ventures.

About Dan Park:
Dan is CEO of Clutch, an online platform for car buying and ownership. Prior to Clutch, Dan was GM & Head of Uber Eats Canada. During his time at Uber, Dan led the growth of Uber's food delivery platform in Canada. Previously, Dan was a Venture Partner at Azure Capital Partners and led the firm’s Canadian investment efforts.

A word from our sponsor:

For anyone that is lucky enough to be a part of building startups, we’ve all seen that mad-rush to answer extensive security questionnaires and implement SOC 2 controls the moment that big whale of a client is on the hook in order to not lose the deal. 

Which unfortunately ends up swallowing the entire organization's time and resources in the hopes to land that whale, right? Lucky for us at Ripple, we have partnered with compliance automation provider Drata. 

Drata saves our portfolio companies from these same issues when it comes to effectively proving a strong, ongoing security posture and achieving frameworks like SOC 2 and ISO 27001.

Drata allows startups to put Security and Compliance on Autopilot. Companies using Drata experience an average time savings of 85% when compared to running the SOC 2 process manually. 

Build trust with customers by proving your commitment to security, and maintain continuous compliance in between your audits. Don’t take it from us, Drata works with all kinds of startups like ClearCo, Lemonade, FullStory, Slice and countless others. 

They're backed by top venture funds such as Okta Ventures and GGV, and are currently G2's number one ranked cloud compliance software provider for customer satisfaction. 

Listeners of Tank Talks can get set up with a demo of Drata and take advantage of a 15% discount offer and waived implementation fees by visiting drata.com/tanktalks to get setup today.

In this episode we discuss:

02:44 How the auto industry is evolving and why now is a great time for disruption

04:56 The effect of the pandemic on modernizing the automotive industry and how its effected supply and demand for cars

07:39 How consumer behavior during the pandemic pushed forward app adoption

09:18 What the enduring lessons from the pandemic will be for the automotive industry

10:30 Why the dealership model is ready for disruption

11:42 How established players in the industry are fighting back against being disrupted from outsiders

13:18 Breaking down the existing legal structures between dealerships and automotive brands

16:16 How Clutch is using their data to analyze the aftermarket and used car market

18:59 Why Clutch is a better way to buy a used car

20:43 Real-world lessons Dan and his team have had to make while building Clutch

22:06 How Clutch has captured market share

23:18 How Dan defines Clutch’s company culture

24:26 Why Dan left Uber Eats to become the CEO of Clutch

26:46 Plans for Clutch’s recent $60M raise

Fast Favorites:

Favourite Podcast
How I Built This

Masters Of Scale

Revisionist History

This American Life

The Peak

Tech Gadget
GoPro Max

Canada’s startup scene

Shoe Dog by Phil Knight

Follow Matt Cohen and Tank Talks here!

Podcast production support provided by Agentbee.Agency

Tank Talks
Tank Talks By Ripple Ventures
Join your host, Matt Cohen, Founder & Managing Partner at Ripple Ventures for weekly conversations with leaders in the startup ecosystem discussing the truth about investing, building and running startups.