Who this is
Waldemar Zeiler came out of Rocket Internet and built digitale Seiten with Team Europe, a company selling leads to local businesses. He became known as co-founder of einhorn, the Berlin condom brand he and his co-founder Philipp built without investors and later converted to steward ownership: the shares now sit with a foundation. He wrote the book Unfuck the Economy, campaigned for a new legal form for companies and co-initiated Bravespace, a network of entrepreneurs, investors and activists. After a year with the balcony solar startup Zweihorn, he and his co-founder Kian have been running Ding Dong Ping Pong in Berlin's Prenzlauer Berg since May: an unstaffed table tennis venue that you book through an app.
Episodes
Numbers from the episode
FAQ
What is Ding Dong Ping Pong?
Ding Dong Ping Pong is a table tennis venue in Berlin's Prenzlauer Berg that Waldemar Zeiler opened in May with his co-founder Kian. It has five tables on 200 square metres, is open around the clock and runs without on-site staff: booking, payment and door access all happen through an app. On top of that there are coaching sessions, events and kids' camps. The model is PingPod from New York. To the episode →
How did Waldemar Zeiler finance Ding Dong Ping Pong?
Waldemar raised 570,000 euros from 18 people in the Bravespace network, with tickets between 2,000 and 150,000 euros, pooled in a partnership. Instead of classic VC investors, he deliberately wanted people from Bravespace on board. The US partner PingPod also received a small strategic stake. He puts the fit-out of the first venue at roughly 170,000 euros. To the episode →
How does Ding Dong Ping Pong's friendchise work?
Waldemar is looking for entrepreneurs who want to open a venue in their own neighbourhood, even as a side business. Depending on size and fit-out they bring between 100,000 and 200,000 euros of their own capital, and he deliberately doesn't help the first five with financing. In return they get better terms than later franchisees and a network where everyone learns from each other. According to the episode, the first franchise was due to launch in January. To the episode →
Why did Waldemar Zeiler shut down Zweihorn?
Zweihorn wanted to make buying a balcony solar system as easy as buying a toaster. After a year it was clear that landlords and property managers were blocking it, expected regulatory relief didn't arrive in time, the product needed a lot of explaining and customers were less willing to pay for sustainability. The founders decided together to close the company and liquidated it transparently. To the episode →
Why isn't Ding Dong Ping Pong in steward ownership?
Waldemar handed einhorn over to a foundation, so there was no classic exit. That's why he still has to take care of his retirement savings, and Ding Dong Ping Pong is a regular limited company. The contract with the Bravespace investors already sets out how the company could move to steward ownership, so he keeps that option open. To the episode →
Quotes
„Das ist einfach ein verfälschtes Bild, wenn man einerseits sieht, dass 90% der Startups in den ersten fünf Jahren sterben.““It's simply a distorted picture when you see that 90% of startups die in their first five years.”
„Ich habe noch nie so ein einfaches Event erlebt …““I've never experienced such a simple event.”
„Die hatten einen Schläger in der Hand, die haben gespielt, die haben nicht ans Handy gedacht.““They had a paddle in their hand, they were playing, they didn't think about their phones.”
„… alle finden gerade ihre Führung scheiße und keiner will in Führung gehen, weil es ein Höllenjob ist gerade.““Everyone thinks their leadership is crap right now, and nobody wants to lead because it's a hell of a job at the moment.”
„Dass du einfach ladentiefe Fenster hast, dass da Licht ist, dass da was los ist.““That you simply have floor-to-ceiling windows, that there's light, that something is going on.”