Sramana Mitra: That’s your experience. We work with a very large number of entrepreneurs. Not everybody comes from a company where they’ve already seen a problem unsolved and then they go after that. You had a lot of your validation and probing done while you were already at Siperian and Informatica. You built upon that
Sramana Mitra: The total you’ve raised is $10 million and from the same investors? Ofer Yourvexel: Yes. Sramana Mitra: Where are you now in terms of ramp and scale? What have you built it up to? Ofer Yourvexel: Acutally, I’m in a transition point. Because of my background of coming from large companies, we built
Sramana Mitra: In 2007 when you started with this concept, did you raise money? Did you bootstrap? How did you get the business off the ground? Josh Levy: We bootstrapped it for a couple of months. My co-founder and I were working out at his house in his living room. Right around the time when
Sramana Mitra: Tell me more about the pricing. How did you price this? Ofer Yourvexel: It was trial and error it the beginning. We started with one price and we simply said, “We’ll look at how much ERPs cost.” We looked at prices of roducts like ours that were not cloud-based. We made the price significantly higher
In case you missed it, you can listen to the recording here:
Entrepreneurs are invited to the 267th FREE online 1M/1M roundtable mentoring session on Thursday, July 9, 2015, 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 Mitra: Did you pick a vertical to go after or were you doing it more horizontally at this point? Manish Sood: We did narrow down on the life sciences vertical because we had seen some adoption from a SaaS perspective. But we were also approaching customers outside that vertical to understand where the potential opportunities might exist.
During today’s roundtable, we had Bhavin Parikh, CEO and Founder of Magoosh, as our guest of honor. Bhavin Parikh has built an incredibly capital efficient venture, and we discussed his philosophy, strategy, and tactics in the first segment. Exchange4solar As for the pitches, first up, Sourabh Jain from Mumbai, India, pitched exchange4solar, a marketplace for