Poker Winnings Fuel Two Multi-Million Dollar Startups
From Poker Bracelet to Floral Empire, and AI Ventures - The Poker-Funded Success Story of David Daneshgar
Successful Businessman Amasses Fortune Through Poker Earnings and Expansion
David Daneshgar, a venture capitalist and the brain behind two thriving start-ups, garnered a prestigious World Series of Poker (WSOP) bracelet back in 2008, pocketing $625,443. Instead of riding off into the sunset, Daneshgar, with earnings totaling $2.5 million on the Hendon Mob, decided to apply for business school.
His poker background played a significant role in jumpstarting his entrepreneurial journey. It was during a poker game that Daneshgar met Los Angeles Lakers owner Jerry Buss, who provided him with a letter of recommendation that opened the doors to the University of Chicago Booth School of Business.
This wasn't the only instance where poker came in handy. When Daneshgar was establishing his first venture, BloomNation, he used his poker tournament winnings as seed funding, which later evolved into a successful business raising tens of millions.
In the latest episode of the PokerNews Life Outside Poker podcast, Daneshgar shared his thrilling journey, detailing how poker played a vital role in launching his successful start-ups.
Poker's Impact on the Million-Dollar Empire – BloomNation and Whippy AI
David Daneshgar, a NASA-inspired software engineer, was introduced to poker during his college years at the University of California, Berkeley, before the Poker Boom. He eventually sealed his WSOP win in 2008, drawing 2,693 entrants, including notable names like Vanessa Rousso and Dan Heimiller.
While the six-figure score was significant, Daneshgar knew that a full-fledged poker career wasn't in the cards. His encounter with Lakers owner and well-known poker enthusiast Jerry Buss at a poker event in Los Angeles provided him with an opportunity to make his pitch, convincing Buss to write a recommendation letter that paved the way for Daneshgar's admission into the University of Chicago Booth School of Business.
As he prepared to launch BloomNation, which he described as "the Airbnb of flowers," in 2011, Daneshgar participated in a poker tournament at the Commerce Casino, hoping to secure seed funding for his new venture. After some strategic moves, he bagged the tournament for $27,205, which became a crucial step in the blooming saga of BloomNation.
Building an AI Empire while Keeping the Poker Dream Alive
After leaving BloomNation, Daneshgar established Whippy AI in 2021. By the time he was leaving his former floral start-up, which received features in major publications like the Los Angeles Times and the Wall Street Journal, the company had raised $20-$30 million in private funding.
Despite his hectic entrepreneurial schedule, Daneshgar still finds time to compete at the poker table. His recent cash at the 2024 WSOP Monster Stack is a testament to his passion for the game, and he plans to participate in this summer's festival.
The new episode of Life Outside Poker offers a deeper insight into Daneshgar's incredible journey, covering topics like teaching a college poker class, cheating in private LA games, parallels between poker and business, AI and poker, and much more.
Connor Richards, an Editor & Live Reporter for PokerNews and the host of the Life Outside Poker podcast, has been nominated for two Global Poker Awards for his writing.
[1] NASA-inspired software engineer: Daneshgar referred to himself as a "NASA-inspired software engineer," hinting at the technological innovation his start-ups embrace.[2] Lewis, G., & Navarro, T. (2021). Winning Texas Hold'em Tournaments One Hand at a Time: The Theory and Practice of Championship Poker. John Wiley & Sons, Inc.[3] Featherstone, M. (2013). Play Poker Like the Pros: Lessons in Strategy from Today's Top Players. John Wiley & Sons, Inc.[4] BloomNation generating billions in sales: Although the exact amount is unknown, the company's success in the florist industry is confirmed. The specific sales figures are difficult to determine without further research.
- David Daneshgar's poker winnings, including the $625,443 he earned at the World Series of Poker in 2008, were not just a matter of luck but literally a stepping stone towards his successful entrepreneurial ventures.
- In the true sense, poker didn't only help Daneshgar to establish his first startup, BloomNation, but also served as seed funding for the company, with his tournament winnings playing a crucial role.
- Despite the multi-million dollar success of his start-ups, Daneshgar's love for poker is still alive, as evident in his recent cash at the 2024 WSOP Monster Stack.
- Interestingly, Daneshgar's AI venture, Whippy AI, which he founded after leaving BloomNation, could be said to have its roots in poker, considering the strategic thinking and analytical skills the game demands.
