Sramana: Who is your typical power user? Are they small businesses? Wendy Tan White: Today it is predominately small businesses. In the early days we had a wide ranging audience. We had hobbyists, home users, and small businesses.
Sramana Motra: If you want to build an operation in Mississippi, you can do that. You can build something – you’re already doing something – in Arkansas. You can do it in Vermont. You can do it in all sorts of low-cost United States regions. We’re seeing that. We’re also seeing Latin America, big time.
Sramana: It was mentioned that in the early days you did a lot of freelance work. This is a common strategy employed by entrepreneurs. We recommend it heavily in 1M/1M. Would you talk more about that? Wendy Tan White: During the first phase of our business, we learned that if you have too much money
Sramana Mitra: Because of the analytics talent? LN Balaji: Yes, it’s a little bit high end. You don’t have to be high end all the time. When it was developed, we did it that way, and we did it out of Calcutta. This is maybe a five- or seven-year-old engagement. We still maintain it out
Sramana Mitra will be in Pune, India, from March 17 to 19, for the ISBA 2012 conference at the Pune Marriott Hotel & Convention Centre on Senapati Bapat Road. On Saturday, March 17, Sramana will be holding an informal meet-up from 3:00 to 5:00 p.m. in the Lobby Lounge of the Pune Marriott Hotel &
Sramana: How much money did you put in to start up Moonfruit? Wendy Tan White: We seeded the company with our own money. I put in $50,000 to start with. Joe White: We basically worked for equity to a point of around $200,000. The first investment we received was from Bain, which put in $500,000.
During today’s roundtable, we partnered with 3 Day Startup Tel-Aviv to coach entrepreneurs who are getting ready to pitch investors this weekend. The startups are hot off the presses and some have covered impressive ground in a very short time. Videochef Menachem Perlman pitched Videochef for team members Omer Lifshitz, Orly Yeruham, Omri Gabai, and
Sramana Mitra: I have a specific interest in understanding your Calcutta strategy. Why has Calcutta been so far behind the rest of India in terms of development in IT? LN Balaji: I’m not so sure it is true. [But] it’s a combination of two or three things. The first thing is talent. Calcutta is terrific