When Zain Jaffer and his co-founder started Vungle, they were young entrepreneurs in the UK working out of a closet-sized office. Armed with a big vision and grit, they grew the company into a global leader in in-app video advertising.
Today, Zain is a VC, philanthropist, and mentor, helping the next generation of entrepreneurs navigate the highs and lows of building businesses. We sat down with Zain to learn more about his journey, his perspective on entrepreneurship, and his reflections on what it means to succeed in business and beyond.
Q: What inspired you to start Vungle, and how did you turn your vision into reality?
Zain: It started with a simple but powerful observation. The mobile app space was exploding, but developers were still struggling to monetize their apps without alienating users. My co-founder and I saw it as an opportunity to create a platform where high-quality video ads could drive user engagement without being intrusive.
But that vision alone wasn’t going to make us successful. We bootstrapped from the start, working from a tiny office that was so small it could barely hold both of us. We didn’t have a roadmap or even strong technical backgrounds, but we had grit. I always say that from the start we were underdogs, especially when we were pitching our idea in Silicon Valley. But what we lacked in credentials, we made up for with resourcefulness. Long story short, we eventually raised some very successful funding rounds and grew into a multinational company.
Q: Scaling a business to $400M+ in revenue is no small feat. What were some of the biggest challenges you faced along the way?
Scaling exposes cracks in everything — your processes, your people, even your mindset. One of the toughest challenges was hiring the right people while keeping our culture intact. We needed people who could move fast, adapt, and thrive in an environment where the rules were still being written.
And, of course, there were moments of doubt. Early on, we faced a near-impossible pitch day at our incubator. I bombed the practice run and had to completely rebuild my pitch in 48 hours. That experience taught me that the difference between a good entrepreneur and an exceptional one is how fast they can bounce back. Not to mention that a great pitch could turn skeptics into believers.
Q: You later sold Vungle to Blackstone for $780M. How did you know it was the right time to exit?
Zain: Deciding to sell Vungle wasn’t an easy choice. We were at the top of our game, with incredible growth and profitability. But, I realized that for the company to reach the next level, we needed a partner with deeper resources and more expertise. Blackstone offered the capital and the operational support to take Vungle further than we could have on our own.
On a personal level, the timing felt right. I’d poured so much of myself into Vungle, and after years of intense focus, it was just time to explore other things. The process itself was a whirlwind of negotiations, emotions, and reflection. But in the end, it was a win-win for everyone involved, and it allowed me to step into a new chapter of my life.
Q: Now as a VC, how has your perspective on entrepreneurship evolved?
Zain: As a founder, I was so focused on the day-to-day grind that I often missed the bigger picture. It’s very easy to get tunnel vision when you’re in the trenches. As an investor, I’ve learned to zoom out and see how everything fits into the broader ecosystem. I see how markets evolve, how timing plays such a huge role, and how even the best ideas can fail if they don’t align with the macro dynamics at play.
Conversely, being a former founder, I understand how hard it is to convey that bigger picture to entrepreneurs without overwhelming them. Founders live in a world of chaos. They have to wear a hundred hats, constantly fighting fires and trying to prove their vision. It’s one thing to tell someone, “Think strategically,” but it’s another to understand that they’re just trying to get through the week.
The biggest shift in perspective is realizing that the two mindsets, founder and investor, are complementary, not conflicting. Founders are the engine, driving innovation and execution. Investors, on the other hand, are the navigators, helping ensure the car doesn’t run off a cliff.
Q: What advice would you give to aspiring entrepreneurs who are just starting out?
Zain: Start with a real problem. something that frustrates you or a gap you see in the market. The best ideas come from personal experience.
And don’t shy away from failure. Some of the most pivotal moments in my career came from things that didn’t go as planned. At one point, I was rejected by every major consulting firm and tech giant I applied to, including Google. Years later, Google Ventures became one of Vungle’s investors.
Lastly, focus on relationships. Whether it’s mentors, co-founders, or your team, the people you surround yourself with will define your journey as much as your product does.
Q: What’s next for you?
Zain: These days, I’m focused on two things: empowering founders and creating lasting impact. Through Zain Ventures and Blue Field Capital, I invest in startups and real estate projects that align with my values. I’m particularly passionate about backing founders who are solving meaningful problems and pushing boundaries.
On the philanthropy side, the Zain Jaffer Foundation allows me to contribute to some of our world’s most underrepresented challenges. It’s incredibly fulfilling to see the tangible impact of our initiatives.
And of course, there’s still that Founder-itch to build another startup. That’s something that may be on the very close horizon for me.
Zain Jaffer’s journey from bootstrapped founder to VC offers a masterclass in resilience, resourcefulness, and relentless pursuit of growth. His journey offers a wealth of insights for anyone dreaming of building something extraordinary.
