From Uber to impact: a fireside chat with Rui Bento by maze and Endeavor

Impact is made, not found - a founder’s journey was fireside chat with entrepreneur Rui Bento, highlighting his journey from Uber to founding Kitch and his current venture in electric mobility. The conversation challenged impact skeptics to reconsider their view on impact, presenting it not just as avoiding harm, but as an intentional core element of successful business models. Through Rui's experiences with Kitch's pivot during the pandemic and subsequent acquisition, we were reminded of the importance of adaptability, resilience, and aligning personal purpose with business opportunities. Ultimately, it argues that businesses driven by internal purpose, and the ambition of leaving the world a little bit better than we found it, can be a force for good while also being financially successful.

Earlier this month, I had the privilege of attending an eye-opening fireside chat featuring Rui Bento, a serial entrepreneur with an impressive track record, interviewed by Pedro Ribeiro Santos, a Managing Partner at Armilar hosted by maze and Endeavor called Impact is made, not found - a founder’s journey.

The Players

Pedro, our interviewer, is no stranger to the world of entrepreneurship. With a background in physics and economics, he has been in the business of selecting and nurturing scale-up entrepreneurs for 15 years. Surprisingly, or not, he rides a onewheel. Talk about work-life balance!

Rui Bento, our interviewee, is a kind force to be reckoned with. From managing Uber's operations in Portugal and Southern Europe to founding Kitch (later acquired by Glovo), Rui's journey is a testament to the power of adaptability and purpose-driven entrepreneurship. Maze has invested in Rui as a founder through the MSM fund and more recently Rui became a Venture Partner at maze helping us optimise our Venture Capital tool.

The Kitch Story: Pivoting with Purpose

Kitch started as a software stack and dark kitchen for local independent restaurants. But when the pandemic hit, Rui and his team quickly realised that their clients' needs had changed dramatically. Instead of sustainable dark kitchens, these local independent heroes needed help managing online orders to survive the pandemic, and that is what they did.

This ability to adapt and serve a pressing need didn't go unnoticed. Glovo, after browsing through about 80 companies in the space, chose to acquire Kitch. At the time of acquisition, Kitch was already established in Lisbon and Porto, and expanding in Spain, with a team of 40 and hundreds of restaurants on board.

The Roller-coaster of Acquisition

Rui's candid sharing about the acquisition process was eye-opening. He discussed some unexpected moments, like Glovo itself being acquired by Delivery Hero, and touched on the business dynamics and adjustments that come with being part of a larger company. It's a stark reminder that even in the world of impact-driven businesses, market forces play a significant role.

Impact is Made, not Found

One of the most thought-provoking parts of the chat was the discussion on impact. Pedro Ribeiro Santos defined impact as 'avoid harm', but Rui pushed this definition further. He emphasised that true impact lies in intentionality and having impact at the core of the business model. It's not just about avoiding harm; it's about actively contributing to solutions. This nuance is reflected in the way we approach impact at maze and you can read more about it here.

This perspective shift is crucial for skeptics who might view "impact" as a soft, bendable criterion. Rui's stance makes it clear: impact should be a hard criterion, integral to the business model itself.

The Next Chapter: Electrifying the Future

Today, Rui is working on his new startup, Pollen, which aims to simplify and accelerate the electrification of urban vehicles. It's a perfect example of finding the sweet spot between business opportunity and positive impact. By potentially lowering the cost of electrification, Pollen could improve unit economics for food delivery services while contributing to environmental sustainability. Rui is also working actively with maze as a Venture Partner improving how we manage our investment vehicles and supporting early-stage founders in our portfolio.

Lessons for Skeptics and Entrepreneurs Alike

1. Adaptability is key: The Kitch story shows how pivoting to meet urgent needs of the people you serve can lead to success and impact.
2. Impact isn't a buzzword: It's about intentionality and making positive change core to your business model.
3. Prepare for the unexpected: In the world of startups and acquisitions, things rarely go as planned. Build resilience into your business model and surround yourself with people that have managed acquisitions in the past successfully.
4. Find your purpose: Rui's journey from Uber to Kitch to Pollen illustrates the power of aligning personal purpose with business opportunities.

Rui's journey is a powerful reminder that businesses can indeed be a force for good. For the skeptics out there, it's time to reconsider. The opportunity for impact is real, and it's not just good for the world – it's good for business too.

The event was co-organised by maze and Endeavor, a leading global community of High-Impact Entrepreneurs in underserved markets operating in 40+ countries where it has helped over 2,600 entrepreneurs in their journeys to scale.