In case you missed it, Adriana Gardella with the New York Times recently covered the roundtables in her post Start-Ups: Can You Handle The Truth?
“Anybody can go offshore and find somebody for four bucks an hour. But to find somebody who understands your culture and speaks your language, and knows where you’re coming from, that’s one step up,” says Josh Last, CEO and founder of GlobeTask, of his company’s approach. How important is the cultural factor? Tony Scott’s interviews
The new 1M/1M Private Lounge, with premium content, is ready! You can also read more on the background and goals of 1M/1M. Also, there is a special live roundtable from Bangalore on November 9. Click on the full article for the rest of the week’s posts.
By guest authors Irina Patterson and Candice Arnold Irina: When you invest do you consider the size of the market? Eric: We just invested in a company that does a catheter for cardiothoracic surgery. It basically is a self-cleaning catheter with a little wire in it and a magnet device that can clear gunk out
By guest authors Irina Patterson and Candice Arnold Mike: [With Dogpatch Labs], the idea is for the entrepreneurial community to be engaged and see this as both a place and a group of people to engage with across a variety of different means. The benefit to us is not ownership in the company necessarily. It’s
Sramana: I think in many cases companies would hire contractors through Elance but would not use Elance to pay them. Gary Swart: Absolutely, and I think Elance has recognized that. They realize they were only getting the tip of the iceberg. I think you will see they begin moving more toward the middle and move
Sramana: Enterprise deals could be a good option for you. I could see oDesk doing $10 million-a-year deals. Gary Swart: There are some differences in that type of business. It requires a lot of touch. They would want one throat to choke.
Irina: What percentage of equity do you usually seek? Eric: I think at the low end we’ve been in the 5% to 8% [range]. But I’d say our typical equity percentage would be in the 15% range, you know 12% to 20%. Irina: Do you think in terms of the return that you would like?