I keep harping on sustainable growth, not growth at all cost. Gleb tells the story of his company, built block by block with sustainability in focus. Sramana Mitra: Let’s start at the very beginning of your personal story. Where are you from? Where were you born, raised, and in what kind of background? Gleb Budman:
Sramana Mitra: Give me the chronology of it. You didn’t mention raising money at any of these points. Michael Sikorsky: I raised right away as I started the company. Sramana Mitra: In Alberta? Michael Sikorsky: Yes, in Alberta. I presented to 11 investors when I was 22. Just to tell you a neat story there, the
Sramana Mitra: Talk to me a bit about the business model, both from what you are doing as well as trends in this kind of marketplace business model. How does this work? How much does the seller get? How much do you get? Philip Rooke: We have a basic charge. Depending on the product, there
Sramana Mitra: You are a venture-funded company, yes? Alex Terry: That’s right. Sramana Mitra: What scale are we talking? Have you raised a lot of money? What size are you at right now? Alex Terry: The business was originally founded in 2007, I believe. The venture money came in 2013. The company has raised $22 million
Sramana Mitra: This is a very common scenario in technologies trying to start their first ventures. They end up building technology, which essentially turns out to be a solution looking for a problem to solve. How did you maneuver out of that situation? Michael Sikorsky: As you’re in that situation, you can feel it but you
Sramana Mitra: This is a concept that is not new. We have seen this concept from a variety of different players. We’ve seen generic ones. We’ve seen specific ones in different categories where various jewelry makers, for instance, come together, in a market place. I’d like to hear from you on what trends you observe
Sramana Mitra: Yes. I’m not saying it’s not beneficial. I’m just saying that, from a technology and accuracy point of view, it would be easier to do certain things when the range of questions and the range of engagement is more constrained. I think if you’re getting into the realm of enterprise software, the range
Sramana Mitra: What specifically did you do as you started this company? Michael Sikorsky: I got the best term for it from Michael Gerber. I actually had an entrepreneurial fever and had no clue what I had to do next. I just decided to do it. It’s not something I would recommend. I had only