Entrepreneurs are invited to the 174th FREE online 1M/1M roundtable mentoring session on Thursday, May 16, 2013, at 8 a.m. PDT/11 a.m. EDT/8:30 p.m. India IST. If you are a serious entrepreneur, register to “pitch” and sell your business idea to Sramana Mitra. You’ll gain straightforward feedback, advice on next steps, and she’ll answer any
Sramana: I have been noticing a trend lately. Companies are building very sizable revenue with small teams. The ideal example of this is FineArtAmerica which, when I spoke with them, they were doing $5 million dollars a year with three people. He had all sorts of outsourcing. You have 16 employees and are approaching $5
Because it’s often so difficult for entrepreneurs to obtain seed funding for their startups, bootstrapping is one of the best methods to self-fund their projects. And offering a service is one of the best ways to go. This, by the way, remains a controversial point of view, and most industry observers will take the position
Sramana Mitra: How mature is your learning model at this point? Matti Aksela: In the sense that the extract was working on predictive analytics solutions for 10 years prior to being acquired. The first release of the social links product was in 2006 or 2007.
Sramana: Your TAM is essentially tied to the number of transactions you can process. You really needed to get a handle on the volume of transactions going through your system. What did you define your TAM after this reality emerged? Jake Weatherly: We look at all of our segments somewhat uniquely. We also look at
Sramana Mitra: I fully understand the information of who called whom, for example, is also proprietary information for the carrier and the carrier can do whatever they want with it. That is not exactly social network behavior. It is more about information about transactions happening within the customer base. What does that tell you? What
Sramana Mitra: I think the other thing that is happening on the mobile wallet end and the SME world is that there is a lot of impact of the mobile payment technology happening. Nowadays you can go to a flea market and accept credit card payments on your phone. There are a lot of similar
Sramana: What was the reason you were making pitches? Were you trying to raise capital? Jake Weatherly: We were pitching for practice in the beginning, but it was warming up to raise capital. In our first round we raised just over 1 million dollars and just over 1.5 million dollars in the second round. Both