CIA-level due diligence and a 100-page memo: Pigment's Eléonore Crespo on choosing a co-founder

Key takeaways from the Upstarts Media clip with Pigment co-founder and co-CEO Eléonore CrespoDealroom has a profile for this one. Try Dealroom → on selecting the right co-founder (August 2026):

Take your time. Crespo's first piece of advice on co-founder selection is unequivocal: take your time to find a founder, if you want one, because it will make or break your company.

CIA-level due diligence. Before approaching her future co-founder Romain Nicoli, Crespo quietly spoke to mutual contacts to vet him from every angle — what she calls her own CIA due diligence — while Nicoli had no idea it was happening.

Knowing what you need. Crespo knew she wanted an experienced enterprise leader who could build and lead an engineering team — a deliberate profile to complement her own background in strategy and venture capital.

The Criteo pedigree. Nicoli stood out as a former co-founder of Criteo, the French adtech firm that went public on the NASDAQ in 2013 — giving him deep enterprise-software and scaling experience.

A 100-page pitch book. To win Nicoli over, Crespo brought a 100-page memo of potential projects and ideas — not a slide deck, but a substantive document demonstrating the depth of thinking behind the venture.

Three afternoons around Christmas. After their first meeting, Nicoli spent three afternoons with Crespo around the Christmas holidays reviewing the material. His verdict was succinct: let's go.

Co-CEO structure. The partnership evolved into a co-CEO arrangement, with Crespo leading commercial strategy and Nicoli leading technology, product and HR — a division they credit to deliberate, careful communication.

Read more: Upstarts Media