The consumer technology sector is recovering, and entrepreneurs like Brynn Putnam are also being revitalized.
When Brynn Putnam sold her last company, Mirror, to Lululemon for $500 million at the beginning of the pandemic, it seemed she had made an extraordinary deal.
Brynn Putnam made a strategic decision to sell her company Mirror to Lululemon for $500 million right at the start of the pandemic, which at first glance could seem like a premature sale. However, time proved that her choice was wise, as the boom in home fitness fell sharply after the initial months of lockdown. After a year as general manager at Lululemon, Putnam gained new operational perspectives and the momentum needed to launch her own company in 2025.
The venture capital firm Lerer Hippeau has already invested in this new venture in a competitive seed funding round, reaffirming its support after having led Mirror’s initial funding in the past. In a recent conversation in New York, Putnam and Ben Lerer, managing partner at Lerer Hippeau, discussed the future of consumer technology and the paths taken by founders driving this new wave of successful startups.
Lerer shared his experience of making the initial investment in Mirror, recalling how, although Putnam's initial demonstration appeared rudimentary, her vision and inventiveness quickly convinced him to support her project. For her part, Putnam explained that the sale was not a proactive search for buyers, but rather emerged from a solid partnership with Lululemon, which provided the opportunity to expand Mirror to homes around the world.
The investment dynamics in technology are peculiar. Lerer emphasized the importance of making smart decisions at the right time, such as selling when there is greed in the market. Additionally, Putnam reflected on the learning phase that allowed her to acquire valuable skills during her time at Lululemon, although she acknowledged that the transition from founder to division manager was a significant change that didn't align with her working style.
After leaving Lululemon, Putnam found herself in a new stage of her life, contemplating what truly mattered to her. With her focus on family relationships and quality time, she began to apply the lessons learned with Mirror to a new project centered on play and social interactions. This new consumer hardware, more focused on quality time among friends and family than on fitness, aims to create shared experiences where technology acts as a facilitator for richer human connections.
Putnam expressed optimism about the future of hardware technology, noting that we are on the brink of entering a new era thanks to advances in components and artificial intelligence, which are providing opportunities to create novel devices. She also highlighted the design philosophy of companies like Nintendo, which opts to use mature technology to create engaging experiences.
Lerer, for his part, expressed interest in projects that seek to counter mobile device addiction and promote meaningful interactions. This renewed consumer focus is reflected in the growing enthusiasm for investing in companies that address these issues, with the expectation that artificial intelligence will serve as a catalyst for positive change.
The current consumer landscape is changing, and Lerer concluded that there is a new group of founders ready to explore what once seemed unattainable. This new wave of innovation promises to revitalize the sector, generating excitement among both investors and creators.