Sramana Mitra: What was the monetization model on that one? Were they monetizing well? Blaine Vess: I don’t think they were monetizing as best as they could, but both of them were making money out of Google AdSense. Flash Card Exchange had a lifetime membership for $20 a month. If you paid, you would not
Sramana: What story did you tell the VC? What was the vision? Adam Singolda: We told them a similar story to what I expressed earlier but focused on video. It was the same premise that information should look for people as opposed to the other way around. I did not speak about content and discovery
Sramana Mitra: I think we understand what you’re doing. What are the big trends you are seeing? I want a more granular perspective on the trends you are seeing in the space that you are primarily active in. Vance Loiselle: Obviously, analytics, cloud, and big data are all big trends everybody’s talking about. If you peel
Sramana Mitra: But it did not pan out that way? Blaine Vess: It did not pan out, but we learned a lot in the process – mainly about a lot of the things that we were doing wrong like not having employees. We had very high margins. We were making a lot of money and
Sramana: What was your frame of mind as you approached the angel investors? You had just left the Army and it sounds like you may have been looking for a bit of a break at that point. Adam Singolda: At that time, I was considering two things. One was to do an MBA because I
Sramana Mitra: Why don’t we take an example from each and really build on the use cases so we get a visceral feel of what specifically is going on. Vance Loiselle: Let’s start with the second one first – media. Netflix is a customer of ours. They have a couple of big trends in the
Sramana Mitra: In 2008, you have got one acquisition under your belt. What happens next? Blaine Vess: We ended up buying another site, which was called All Free Essays. It was another site that has been around since about 2000. It was not monetized at all. I had been reaching out to the owner for
Sramana: There are a lot of entrepreneurs who have a military background. I think there are some unique skill sets or opportunities that you can gain from military service. Adam Singolda: I also had a unique opportunity to work with large data sets and applied mathematics. I joined as an engineer and I was an