By guest author and 1M/1M member Pinky Thakkar Meru Cab, the largest taxicab company in India, needed an effective way to identify and monitor its more than 5,000 drivers. To ensure high-quality service, the company terminates its agreements with drivers who seriously violate its customer service standards, and blacklists them for future employment with the
Sramana Mitra: Did you take some time off then? Morris Miller: I did. I took a little time off. I realized that it isn’t consistent with what I wanted to do at all. Then we started looking at different kinds of deals. We invested in a medical startup. That was my first really big investment after that.
Much as we would like to see more entrepreneurs successfully raise seed money from angel investors, the current level of investment is structurally worrisome. In 2013, 70,713 ventures received angel financing (Source: Center for Venture Research, UNH). However, the number of companies that get venture financing has remained more or less steady over the years
Sramana Mitra: Tell me what you think about industry movements, trends, and open problems. Torben Nielsen: One of the things that I see as a major opportunity is that we, as a company, work very closely with health plans in providing that shopping experience. You can see treatment cost. You can see your benefit levels and
Sramana Mitra: You funded these other founders who came up with the concept of Rackspace. That’s how you got involved with Rackspace? Morris Miller: That’s how I got involved, yes. Sramana Mitra: Did you actually take an operational role or were you just an investor in Rackspace? Morris Miller: Part of their deal with me
Torben Nielsen: We actually got covered by Forrester Research back in 2012 on a 17-page research study. The study explored how Regence had managed to crack the transparency code and how we’ve managed to create an integrated experience for members where they could feel more like shoppers. The day that report was published, I went to management
Sramana Mitra: This is a time frame when the Internet is starting to happen. What happens next? Morris Miller: For the year after the sale, you become an indentured service where you have to stay around because the acquirer wants to know that there’s going to be a complete transfer of knowledge. But they don’t
Entrepreneurs are invited to the 243rd FREE online 1M/1M roundtable mentoring session on Thursday, January 8, 2015, at 8 a.m. PST/11 a.m. EST/9:30 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