Sramana Mitra: When you win big deals with enterprise customers, what is it that allows you to win these deals?
Steven Boye: It is typically the quality of our products. Everybody that we compete with, they are currently Dropbox or Box users. Most of them are. For some reason, they like our solution better.
Sramana Mitra: Do you know why?
Steven Boye: Soonr wins business because we have the most powerful mobile file sync-and-share experience available: smart selective sync that allow users to take entire folders or subfolders on-the-go; full online or full offline mode; integrated document editing and annotation with built-in MDM/DLP security features such as remote wipe; and no additional software needed. >>>
This feature from TechCrunch looks at the dramatic change in Seattle’s tech scene over the past ten years. The home-grown industry in Seattle now has a sizeable number of companies not only at the $100 billion valuation, but throughout the $10 billion, $1 billion, or $100 million valuation ranges. For this week’s posts, click on the paragraph links. >>>
Sramana Mitra: How many telcos do you have as customers today?
Steven Boye: I think we have three today. AT&T is the biggest. What we’ve learned is that telcos are hard to work with. They are good once they engage, but it’s really a long sales cycle. In the years since, several things have happened.
In 2010 to 2012, we basically found out what it is that Soonr is. Soonr became less of a telco solution and more of a cloud collaboration solution. Then we also launched Soonr for enterprise. In 2011 and 2012, the focus of the company became clear. It has been such a shifting landscape and you basically had to try and pivot all the time to found out what makes sense at any time. We have gone through quite a few pivots as you can probably tell over the years. >>>
Sramana Mitra: What is your plan going forward? You’re about $35 million. The market has appetite for what you bring to the table. Is it just basically doing more of the same thing? Is that an accurate summary of what your game plan is?
Chuck Bloomquist: I definitely want to continue and expand in different directions. As you can imagine, the people who want the data continue to get creative with how they are going to get it. Today we see most organizations trying to present this in a retroactive space. If you think about malware and antivirus, it’s all based on signature definition today. Somebody writes an exploit and exploits somebody’s network. They call Symantec and say, “We’ll create a signature for it.” In our opinion, that’s too late. If you can define what it is that’s relevant to the organization, you now have a tool that you can use to look for it. Where are we going next? >>>
Entrepreneurs are invited to the 257th FREE online 1M/1M roundtable mentoring session on Thursday, April 30, 2015, at 8 a.m. PST/11 a.m. EST/8:30 p.m. India IST.
If you are a serious entrepreneur, register to “pitch” and sell your business idea to Sramana Mitra. You’ll gain straightforward feedback, advice on next steps, and she’ll answer any of your questions. Others can register to “attend” to watch, learn, and interact through the online chat.
In case you missed it, you can listen to the recording here:
Sramana Mitra: That brings us to what?
Steven Boye: Now we come up to 2006. We actually got funding from a company called Clearstone Venture Partners in LA. During 2006 to 2008, we also got Intel Capital and Cisco as strategic investors. Now, we started getting real money to build the company.
Sramana Mitra: What was the basis of that investment?
Steven Boye: At that time, the product had synthesized more into a cloud-based service for online backup and collaboration. It then became much easier to raise capital. >>>
Sramana Mitra: They’re all doing this. They’re all part of your marketplace now.
Charles Mi: Yes. ADARA marketplace contains a lot of the travel technology companies, rental cars, and hotels. They have 100% control over how the data is being used. By putting transparency and control in place, the data suppliers have a lot of confidence that the data won’t be misused.
Sramana Mitra: Very interesting. In terms of building the company, you switched in 2008 to this travel data mode. Now, it’s coming up to seven years of executing on this business plan. You said you raised three rounds of financing?
Charles Mi: Since 2008, yes. >>>