Shahrzad Rafati, a trailblazing Iranian-Canadian entrepreneur, holds the esteemed position of Chairwoman and CEO at BBTV Holdings Inc., a visionary global media company with its headquarters nestled in the vibrant city of Vancouver, Canada. Stepping onto the scene in 2005, BBTV has been at the forefront of reshaping the landscape of video entertainment by championing the brilliance of the world’s most influential creators. Under Shahrzad’s adept leadership, the company has forged a path of innovation, creativity, and inclusivity, revolutionizing the way we experience digital content and connecting audiences worldwide to captivating stories and boundless possibilities.
Can you share your journey as an entrepreneur and how you came up with the idea of BBTV?
I grew up in Tehran during wartime when content was rationed, and while I only had access to a handful of TV channels I could see the power of content even at that small scale. Even at a young age, I had seen enough of the world to know that I needed a different future. I needed a life where I could make a difference on a global scale.
As a young person in a place with so much change and turmoil, experiencing inequality first hand created a desire and a passion to be a positive agent for change. Citing my favourite quote from Gandhi, to “be the change you wish to see in the world,” is why I moved to Canada to have access to more inclusive and equal opportunity.
When I was 17 I moved to Vancouver by myself with just one suitcase, no computer skills, and very little English. My passion for math and tech drove me to pursue computer science in university. Content again played a big role in my life, helping me learn the language and exposing me to new cultures – and suddenly there was so much more of it. It was around this time I built the business model for BBTV, which came to me when I first visited CES, observing the applications of digital audio which was pioneered by Steve Jobs through the invention of the iPod. This innovation changed the landscape for people to explore their passions for music, and I wanted to develop a model that would do the same for content.
What motivated you to start a digital media and technology company specifically focused on helping content creators increase viewership and revenue?
I wanted to play a pivotal role in the democratization of content given my background, and that’s part of the reason why I started BBTV. The digital age of content was just in its infancy, and I wanted to expose others to the limitless potential that I saw in the burgeoning industry to educate, connect, and empower people around the world. 18 years later, digital video commands more ad spending than traditional media like TV, enabling more than 50 million creators to captivate audiences and drive revenue from the content they create.
When I started BBTV in 2005, we were one of the pioneers that was defining and advancing the media tech space. We empowered a new generation of storytellers that were transforming entertainment, and the ways that content was being produced and consumed. BBTV has now grown from a small startup into a leading media tech company, operating in 10 languages around the world and empowering thousands of creators.
To put it simply, our mission is to make meaningful content more valuable. As the largest multi-vertical video platform worldwide with more than 600 million monthly unique viewers, we empower many of the world’s most successful brands, media companies, and creators to define the culture of today and tomorrow.
As an influential figure in the digital media and technology industry, what responsibilities do you feel towards empowering and inspiring other women to pursue their entrepreneurial dreams?
Because of my background, I actively pursue ways to encourage social change and am a champion for equality in all forms. I am very passionate about making a positive impact on the world, from job creation, to climate action, education, and advancing opportunities for women and girls. As a woman in business who has seen and experienced inequality firsthand, the latter has always been near and dear to my heart as an entrepreneur.
Drawing inspiration from the words of a great friend and fellow leader, Marc Benioff, I believe that business is a platform for change. My responsibility as a successful woman entrepreneur myself is to leverage the platform we’ve built at BBTV to lead by example for other businesses and pave the way for other successful women in leadership. This is about much more than meeting quotas, it’s about setting and making ourselves accountable to goals, and putting the necessary policies and systems in place to achieve and measure success. This is a core tenet of BBTV’s quadruple bottom line, which measures success across social, people, environmental and financial KPIs. That’s how best practices are created, and how other businesses can learn from what we’ve done to implement for themselves.
In part because of the work that we’ve done at BBTV, in 2020, Prime Minister Justin Trudeau appointed me as Co-Chair of G20 EMPOWER, which works to bring together representatives of the private sector and government counterparts of the G20 countries with the common goal of accelerating women’s leadership. I am a big believer in inspiring future leaders, and I work very hard to empower women to excel in the male-dominated professional landscape.
How did you navigate the challenges and obstacles you faced while building BBTV, especially as a woman in a male-dominated industry?
When I look back to when I first started BBTV, I do feel as though I had to really prove myself, especially when we were looking for early investment. Our business is very technical and I think a lot of the discussions we had in the earlier days highlighted the need for me to really showcase my expertise.
Would I have faced the same level of scrutiny if I was male? It’s tough to say, but the advice that I give all young entrepreneurs, whether male or female, is to work harder than everyone else and show that you understand your space and the business opportunity inside out. If you show the commitment and the level of intelligence needed to get ahead, people can’t ignore you.
If I were to ask you to name a female founding executive, a CEO like Elon Musk, Steve Jobs, or
Jeff Bezos, there are not many. We need more examples. I hope to inspire the female leaders of tomorrow by demonstrating that it is possible. I want young women to think that “She’s done it, so I can do it too”, and I encourage everyone to do the same thing.
How do you foster a culture of innovation and creativity within your company? What role does it play in staying ahead in the rapidly evolving digital media ‘landscape?
I believe that innovation and creativity stem from feeling like you have a seat at the table, and that your ideas are valued the same as the person next to you. This is one of the many reasons that we value equality so much, as it doesn’t just produce a more diverse, inclusive and equitable organization, it actually translates to better results and more inspired ideas. As an example, a recent McKinsey study outlined that organizations with equal representation in leadership are 50% more likely to outperform their peers.
BBTV’s core values are creativity, collaboration, care, and drive, and above all else, we believe in ‘cultural addition’ over ‘cultural fit’. ‘Fit’ feels too boxy for us. We hire for diversity and uniqueness, and truly believe that one of our greatest strengths as an organization is our blend of bright, passionate and worldly people. When hiring, we always ask the question “what unique attribute will you add to our culture?”
At BBTV, Equal is Equal. To achieve a truly equal and balanced organization, we have created and implemented a number of programs and initiatives including ‘equal pay for equal work’ and equal opportunity hiring, which are key components of our people strategy.
Today, pay disparity across BBTV’s employees is 0 percent no matter how you slice it, and it’s been that way for over 5 years. Not a lot of other businesses can say that. More than 40% of our employees and managers identify as female, and we’re proud that half our board is female and 50% of our board members are BIPOC.
Can you share a memorable success story or milestone achieved by BBTV that you are particularly proud of?
It’s amazing to look back sometimes and see how far my vision for BBTV has been realized over the past 18 years. Not only are we a leader in our space, but we’re breaking new ground in so many ways.
I’m proud to say that BBTV reached an incredible milestone in October of 2020 when BBTV launched an initial public offering on the Toronto Stock Exchange. The IPO made history on the TSX as one of the Top 10 Tech listings of all time, as well as the largest across all sectors with a sole female founder & CEO and the first in the technology sector.
We need more milestones like this in Canada and around the world. We need to break new ground and pave the way for other young dreamers who envision a future with more potential to
be leaders.
As a successful woman in the industry, how do you prioritize self-care and well-being amidst the demands of running a thriving business?
What practices or habits do you find most helpful? I am a big advocate for a healthy lifestyle. I train a lot and eat well. To unwind I run, swim, and do pilates and yoga, and I also watch fun and educational videos! I’m also lucky enough to live in BC and truly believe there is no better place on the planet to call home. For nature-enthusiasts like me, the closeness to beautiful parks, to the mountains, to the ocean and to a world of incredible food and sight-seeing is unprecedented anywhere else in the world.
As a Persian immigrant, how challenging would immigration be for a woman from the same background, and do you have any experiences or lessons you would like to share with others?
My experience as a Persian immigrant definitely had its challenges, especially coming to Canada with so little grasp of the language and the culture. That said, I have so much pride in sharing a common identity with the Iranian community here in Canada and around the world, placing so much importance on warmth, kindness, care for each other, the spirit, and the relentless drive to make the world a better place. As Persians, no matter how we immigrate to a country, there is a beautiful community that is there to welcome you.
I also realize that no two immigration experiences are the same, so the lesson that I learned from my experience is to get out of your comfort zone. Learn the language, experience the culture, and find your new village. At the same time, reach out to and connect yourself with the Persian community where you live. Together, this will help you learn from the shared experiences of other Iranians, while also setting yourself on the right path for success in your new home.
What message would you like to convey to young women who aspire to become entrepreneurs or leaders in the digital media and technology industry?
I’ve received a lot of advice over the years, and I think you also need to be selective about the wisdom you take onboard. One piece of advice that stands out to me is: “Always do the right thing – personally and professionally, it may not be easy, but you will never regret it.” I use that at all levels of my life, and it’s helped guide many of my decisions over the years.
