Sramana Mitra: How did you find them, or did they find you? Jai Rawat: One of their representatives usually does that. They reached out to us and they test tried us for 30 days, just to see what the impact was. They saw a huge uplift. As I said, you are acquiring fans, getting e-mail
Sramana: How much money did you raise from VCs? Eric Chiu: We raised 5.4 million dollars in Series A. In the end we also converted our 200,000 dollars into that Series A. That allowed us to start paying ourselves again. I think you have to have that period where you are not making any money.
Having a cloud-hosted platform has become the new trend for high tech businesses worldwide. App developers can receive the resources they need to build, launch, promote and integrate their apps with other businesses. This not only creates a bundle of exceptional business tools but it also creates a hotbed of savvy entrepreneurs with working solutions
Sramana Mitra: That is a huge problem on Facebook: Likes vs. leads. Jai Rawat: Exactly. Likes don’t equal to fans. We say that people are visiting a site already, so they are obviously interested in the types of products you sell and they are somewhat familiar with your brand. They are much better candidates to
Entrepreneurs are invited to the 189th FREE online 1M/1M roundtable mentoring session on Thursday, September 26, 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
In case you missed it, you can listen to the recording here:
Sramana: Raising money like that is very difficult these days. You were able to get VCs to invest in a concept and that is not common. What was it about your situation that enabled you to clinch the opportunity? Eric Chiu: First, I think we went to the right firms. Trident committed to the term
Today’s roundtable had an interesting mix of companies ranging from Internet-of-things to daily deals platforms. SSRLabs We started with Axel Kloth from Palo Alto, California, who pitched SSRLabs, a semiconductor concept. Axel rightly pointed out that chip funding in the Valley has dried up, and there are very few VCs who invest in the sector.