It’s all about market validation folks, and here is a very nice short presentation explaining it in a simple and concise manner.
About the Presenter Patrick Llewellyn and 99designs
Patrick Llewellyn joined 99designs, the world’s largest graphic design marketplace, in 2009 after a decade advising Australian technology and media companies at NexTec Strategic Capital. In 2010 he moved to San Francisco to open a U.S. office and oversee U.S. and international expansion.
Shortly after being appointed CEO in January 2011, Llewellyn guided 99designs to a $35 million first-round capital investment led by Accel Partners (Facebook, Dropbox, Etsy). To date, 99designs has hosted more than 210,000 graphic design contests and paid out more than $50 million to its community of 220,000 designers around the world.