So, we now have the quarterfinal line up: four Latin American teams are in the next round. Brazil and Argentina were expected. Paraguay and Uruguay have also qualified. The only Latin American team that didn’t make it was Chile, but they were matched against Brazil, a tall order.
By guest authors Irina Patterson and Candice Arnold Irina: What business sectors do you usually see? Mitch: It’s all of the local services that you would see in any community or neighborhood. Restaurants, retail, local practitioners such as doctors, dentists, veterinarians, hospitality, hotel and lodging, plumbing, HVAC, repairpeople. Those are the major categories. Then there’s
By guest authors Irina Patterson and Candice Arnold Irina: All your contacts with businesses seeking financing and all the processes are through the software, right? There are no people-to-people meetings like angel groups have? Mitch: No. Although, I think increasingly there are businesses where there’s both a technology layer and a business services layer. And
Paltalk provides software and technology for real-time, rich media, interactive social networking. The Paltalk platform powers the largest collection of video-based communities on the Internet and has more than 4 million active members, with nearly 100,000 people at any one time chatting in rooms on a variety of topics, talking with friends, instant messaging, or
SM: How much of the market do you think you have penetrated? DC: We will do just north of $11 million this year. We are different in that we have 500 customers in 50 countries around the world. We are at Series D, which I would normally equate with a company with really high revenues.
By guest authors Irina Patterson and Candice Arnold Irina: How long do they need to be in business? Mitch: We work with businesses that have typically been in businesses for several years. It’s not a program for startups. It’s a program for businesses that typically have $250,000 to $3 million in revenue and also businesses
By guest authors Irina Patterson and Candice Arnold Mitch: In general, business owners don’t do a good job of helping a bank to very quickly and readily understand the excellent performance of their businesses. It’s very hard for a bank to assess the performance of a small business. Given the economics of small loans, it
By guest authors Irina Patterson and Candice Arnold This is the ninth interview in our series on financing for entrepreneurs. I am talking to Mitch Jacobs, founder and CEO of On Deck Capital, a small business online lending platform. Irina: Hi, Mitch. Let’s start with your background and how you arrived where you are today.