During this week’s roundtable, our guest was Mark Dorsey, VP of Business Development and Co-founder at Bonanza. Mark discussed how the company found its unique angle to break into a group of sellers looking for specific solutions. The company has ONLY raised $1M in funding and has delivered over $75M in revenues. Great story.
As for pitches, up first Debbie Gow from Shanghai, China, pitched New World, a concept for language teaching for Chinese consumers to learn English. Debbie wants to use VR and AI to create a differentiated language learning platform.
Next Anil Kumar from Hyderabad, India, pitched Engrip, a ‘living resume’ platform to be able to capture and highlight the ongoing self-learning that any professional goes through these days. Very promising idea. I advised Anil to focus on an enterprise-focused business.
Indian entrepreneurs should listen to this set of podcasts to get into the minds of investors who offer invaluable insights.
Naren Gupta, Nexus Ventures – As a co-founder of a firm with an excellent track record of investing in the Silicon Valley – India corridor, but with a global market point of view, Naren shares his insights, nuggets, and interesting wisdom.
Ashish Gupta, Helion Ventures – Co-Founder of one of the key players in India’s venture capital eco-system, Ashish shares his valuable perspectives throughout this crisp and insightful conversation.
Sramana Mitra: Why is the rate of adoption not faster? Why is it that just that 200 corporations are the only ones adopting this?
Rob Bonavito: It’s a newer approach to sourcing. It gives you a lot more capability. The larger corporations are starting to look at it more. Like anything else, it starts to trickle down. We’re starting to see more interest from smaller-sized companies. >>>
Today’s 354th FREE online 1Mby1M roundtable for entrepreneurs is starting NOW, on Thursday, May 25, at 8:00 a.m. PDT/11:00 a.m. EDT/8:30 p.m. India IST. Click here to join. All are welcome!
Today’s 354th FREE online 1Mby1M roundtable for entrepreneurs is starting in 30 minutes, on Thursday, May 25, at 8:00 a.m. PDT/11:00 a.m. EDT/8:30 p.m. India IST. Click here to join. All are welcome!
According to IDC, the overall wearables market grew 3.1% over the year in 3Q 2016 with total wearables shipments at 23 million. Basic wearables, which primarily comprised of fitness bands, accounted for 85% of the market and recorded double-digit growth. Smart wearables capable of running third party apps are expected to continue to struggle in the near term. Overall though, growth has fallen considerably from the more than 40% growth rates projected back in 2013. This slowdown in market pace has already translated to a significant devaluation of existing players.
Sramana Mitra: What year did you start the corporate business?
Greg Besner: 2002 is when Sarbanes-Oxley was made effective. I actually don’t remember exactly when we launched with our first corporate client but it was probably in 2003.
Sramana Mitra: What was the sales model for the corporate business? At that time, were you selling on the phone? How were you getting those customers? How were they finding you? What was the method of selling? >>>
Sramana Mitra: What are the nuances of that? How do you accomplish that objective?
Rob Bonavito: It’s a special algorithm that looks at multi-stage optimization. It you think in terms of someone that’s making a cake, you could potentially buy a cake pre-made. You could have several options in terms of ingredient providers and also service providers that would play into the whole supply chain. To be able to determine which route or supplier would provide the most cost effective solution, it takes a series of analysis that goes through an optimization algorithm. >>>