During this week’s roundtable, we had as our guest Swati Chaturvedi, Co-founder and CEO at Propel(x), an online platform where entrepreneurs are connected to angels. Swati and I discussed some of the key trends of the seed financing eco-system as viewed from Propel(x).
One of my observations is that we’re in 2017. Lots of stuff has already been built. Nowadays, there aren’t so many wide, open opportunities out there. But there are many, many niche opportunities. Some of these businesses need to be built with very small amounts of capital – $1-2 Million, and sold for $10-15M. I asked Swati if there is appetite in the Propel(x) community for this type of investment? And what about a notch smaller? Invest $250k-$500k and sell for $5-$10M?
Pallav Nadhani, CEO and Cofounder at FusionCharts, is someone I have known for a long time, and he will always have a special place in my heart as a young entrepreneur from Calcutta, where I was born and raised. Pallav has bootstrapped an $8 million a year product company from Calcutta, and we discuss the philosophical question “Is growth at all costs desirable?” I encourage you all to think about this question amidst the Unicorn mania raging in our industry today.
Nevin Shetty, CEO of Blueprint Registry, did TechStars last year, and we discuss some strategies for getting into YCombinator and TechStars, the two high quality seed fund accelerators that are worth going through. Note, there are very few among the 7,500+ accelerators out there that are worth parting with 7-10% equity for.
Girish Rowjee, Co-Founder and CEO of Greytip Software, discusses his long journey selling HR and Payroll software to the Indian SMEs. Greytip is one of the two successful SaaS companies in India who have managed to penetrate the mid-market.
Venkat Vishwanathan, Founder and Chairman of LatentView Analytics, discusses the trends of the industry, in particular, the Do It For Me trend we’re seeing in the space.
Sramana Mitra: What’s the next major strategic move in the company’s evolution?
Roger Hale: I’m not sure there was an inflection point around that time. We were continuing to develop the product. We had customers. They were quite demanding customers. They wanted new features in the product. There was a lot of work just to support that. The next major revenue point was around about 2007 when we sold our first deal in excess of a million dollars. That was quite a significant point.
Sramana Mitra: All these other deals until 2007 almost served as pilots. Then you got to these larger deals starting 2007. >>>
Today’s 363rd FREE online 1Mby1M roundtable for entrepreneurs is starting NOW, on Thursday, August 10, 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 363rd FREE online 1Mby1M roundtable for entrepreneurs is starting in 30 minutes, on Thursday, August 10, at 8:00 a.m. PDT/11:00 a.m. EDT/8:30 p.m. India IST. Click here to join. All are welcome!