Sramana Mitra: Let me get a bit more granular in some of these steps. When you started getting the sense that there was this product opportunity while you were essentially acting as a reseller and system integrator on top of what became the Adobe technology, what was your business situation? You were a self-financed company.
Cloud-based contact centers are an active space. Here’s an opportunity to get up to speed with the developments. Sramana Mitra: Let’s first introduce yourself to the audience as well as what you do in the company. Mike Burkland: I’m the CEO of Five9. I joined here as CEO back in January, 2008 – over six years
This HBR feature outlines seven insight channels that would-be innovators can tap into for valuable ideas for business opportunities and growth. For this week’s posts, click on the paragraph links.
Sramana Mitra: You are more of a service side? Danny Yu: It was a network analysis product. By helping companies solve problems with networking, it gets us to understand the problem better because a test company has to understand the test cases. What effectively happened is we gathered all these expertise across all these different
Sramana Mitra: I think the process that you’ve outlined is a very effective process. I’ve seen case study after case study where people have been successful in doing this. That’s to take some existing product that’s in the market, start selling and do some sort of a value-added reseller or system integration kind of partnership.
Sramana Mitra: But if you look at the reports, there are also reports, for example, that people have already got the apps that they want to use on a regular basis on their phone and that they’re not downloading a lot of new apps. The number of new apps that are getting downloaded is going down.
Danny Yu: We have one application in retail. It’s a restaurant chain. They actually use a temperature sensor to detect whether or not their freezers have stayed cold. The reason why they do that is because if the power goes out and they’re not able to monitor and track the temperature of the freezer; then as
Sramana Mitra: What did you do after that? Phil Copeland: There were a lot of lessons learned out of that. First of all, the original business was self-funded and was grown out of cash flow. Spot On was my first venture capital-based business, and it was also started in San Francisco. That was a really interesting experience. After