Posted on Friday, Mar 13th 2020
CEO Taylor Tyng has bootstrapped
Wiredrive over a 17-year period to about $10 million. Today, he has options
ahead to grow organically or raise money. Either way, an interesting journey.
Sramana Mitra: Let’s start at the very beginning of your
personal journey. Where are you from? Where were you born, raised, and in what
kind of background? Taylor Tyng: I was born south of Boston, Massachusetts in a town called Duxbury. I was born the son of two entrepreneurs who went through a line of businesses from early plastic mold injection technology companies and ended up working in a luxury travel business. I got bitten by the entrepreneurial bug early. I was raised in a middle class setting and my parents made sure that they raised children who were thoughtful and mindful. I had a real good platform to practice at an early age. By trade, I’m a designer. Art and commerce has always been a big part of my life. Sramana Mitra: What did you do for education? Taylor Tyng: My official major was Kinetic Sculpture. Sramana Mitra: Where did you do that? Taylor Tyng: I was an Art major from Skidmore. It’s where I
met one of my business partners, Mitch Bassett. I studied sculpture and
computer graphics animation. I came out from Boston to Los Angeles to be
involved with a company called Digital Domain, which had done Titanic and Terminator. I was also in a band as well.
For a few years, my art career was put on hold for music.
process, I met my other partner, Bill Sewell, who was my bandmate and
a developer earlier. He built the first extranet for CBS. At that time, I was
starting to do a lot more design for small agencies and production companies
around Los Angeles and New York. This was about 1999. It was when the Internet
hit. We were there at the right time. We formulated a design agency that was
doing branding and interactive design, mostly, for creative companies and
We built the software that became our company. We built an early version of what became Wiredrive, which was a review and approval service. This is pre-YouTube and before video was even being sent around the web. We were doing a lot of design with our customers’ video portfolios and had to send them over the Internet.
time, large complex videos were the size of postage stamps on the
Internet. Immediately, that became
a very interesting challenge for our customers. They were more interested in
how we were sending the work we were doing. We decided that that was an
interesting business to pursue. We followed our nose into it. We’ve been
bootstrappers since day one.
here. This segment is a part in the series : Best of Bootstrapping . Bootstrapping to an Exit . Why is Bootstrapping Important? . How Can You Play this Low-Probability Game Intelligently? . Do NOT Go to VCs as Beggars - Go as Kings . Excess is NOT Required for Success . Bootstrap First and Raise Money Later . Some Bootstrapping to Exit Case Studies . The Buy Side of Bootstrapping to an Exit . Blitzscaling vs. Bootstrapping . Bootstrapping to Unicorns More »» . Cinedigm Acquires Bootstrapped 1Mby1M Company Future Today for $60 Million . Mailchimp Bootstraps to $600M Revenue . Bootstrapping from Arizona to $10 Million . Bootstrapped Basecamp Executes a No Nonsense Strategy . How Under30Experiences Bootstrapped to $5 Million . Bootstrapping with a Paycheck . How Algo.ai CEO Amjad Hussain Bootstrapped using Services from Michigan . Seed Investors Who Like Bootstrapped Businesses . How iHeartRaves CEO Bootstrapped a Niche e-Commerce Company to $20 Million . Bootstrapping with Services . 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