In case you missed it, you can listen to the recording here:
Sramana Mitra: By the end of 2014, what was your level of e-commerce business?
Eyal Levy: Because we grew the business through other options, the percentage of the online business remained within the 15% to 20% range. Domestically, it grew. It went up to 25%.
Sramana Mitra: I have one question which I can’t help asking. This is one of the reasons why so many e-commerce brands have done so well. It’s because of not having to invest capital in opening stores, which as you state, is very capital-intensive and hard to finance in the growth phase.
How does the revenue that you generate through e-commerce compare with the revenue that you generate through these capital-intensive stores. Can you build this brand largely through e-commerce and not through all this retail expansion? >>>
During this week’s roundtable, Eyal Levy, Co-founder and CEO of Yogibo, shared his lessons from the trenches building a niche online-offline brand that started with a set of bean bags. It’s a charming and very informative interview.
We also had Mufakir Ansair from New Delhi, India, pitch Helping Chat, a concept that he is trying to raise money for without any validation whatsoever. Moreover, it is a concept that didn’t make any sense to me. I’m not sure if I managed to get through to him the hard reality of the startup business: investors don’t fund unvalidated ideas. Mufakir has a lot to learn on how the startup business works, but he is very young, just out of college, and has ample time ahead to do so. My recommendation is Bootstrapping with a Paycheck.
We also had discussions around five other videos:
Sramana Mitra: All these years, it’s a progression and evolution of the same company that you’re still running today?
Colin Earl: That’s right.
Sramana Mitra: This previous product that you’re comparing your current contract management software with, what year was that?
Colin Earl: The first product was roughly in 1996 to 2002. We ran with that product. We used the revenue from it to fund development of, what is today, Agiloft. >>>
Today’s 343rd FREE online 1M/1M roundtable for entrepreneurs is starting NOW, on Thursday, March 9, at 8:00 a.m. PST/11:00 a.m. EST/9:30 p.m. India IST. Click here to join. All are welcome!
Today’s 343rd FREE online 1M/1M roundtable for entrepreneurs is starting in 30 minutes, on Thursday, March 9, at 8:00 a.m. PST/11:00 a.m. EST/9:30 p.m. India IST. Click here to join. All are welcome!
SaaS-based enterprise application services provider Workday (NYSE: WDAY) may have delivered an impressive quarter, but the market is not impressed. During the recent result announcement, Workday announced a change in accounting practices and a re-organization of its operations – a move that has not gone down well with the analysts.
Sramana Mitra: Why Japan?
Eyal Levy: Through the years and since 2012, people would see our brand if they came to the US and tried it or they’d just read articles online. Some approached us to see if they can start the brand in their own country. With most of them, it just wasn’t the right fit because we really believe in the model that we created, which is the synergy with the brick-and-mortar and online. Some of those leads wanted just online or just stores and didn’t want to have the entire model.
The first person who we really believed could do it was a person from Japan. He read about Yogibo and approached me. He ordered and paid $800 to ship one and wrote me an email that it’s the best purchase he’s ever made. We met a few weeks later in Asia. There was great chemistry. Three months after, we signed the >>>