Posted on Friday, May 1st 2020
We’re big fans of bootstrapping to exit case
studies. Imagine Easy Solutions CEO Neal Taparia’s journey is a wonderful one.
Sramana Mitra: Let’s
start at the very beginning of your journey. Where are you from? Where were you
born, raised, and in what kind of background? Neal Taparia: I was born in
the suburbs of Chicago. My parents were immigrants from India. I’m
first-generation in the United States. I did my undergraduate education in
Chicago. After that, I settled down in New York where I’ve been ever
since. Sramana Mitra: What
led you to the entrepreneurial journey story? Neal Taparia: My
entrepreneurial roots took place in Chicago in my high school junior year. This
was 2000. In fact, it was the early days of the internet. I would go online
through America Online and talk to my friends that way. It was a totally
different type of internet.
I was lucky
that my high school offered this course on introduction to computer science. My
dad nudged me to take the class because he saw me tinkering around. It was a
pretty eye-opening class for me because I learned how to build basic websites
and some basic programming.
year, I was in English class. When you write a paper, you’re required to cite
and reference all that information. I don’t know if you remember doing that
back in the day, but it has all these tedious rules that you have to follow.
learned about computer science and a good friend of mine who’s also good with
computers, we realized there was a much better way to go about these
bibliographies and reference management.
course of two months, we ended up putting together a product called EasyBib
where you can enter in a website or a book. We were able to build crawlers and
algorithms where we would extrapolate information, structure it together, and
quickly create your citation.
dramatically changed the process of citing information. It made it a lot easier
and shorter. It turned out to be very popular. That was the launch point of my
entrepreneurial career. It started when I was 16 years old.
point onward, we incorporated a company called Imagine Easy Solutions. Given
that early success, we thought that we can build imaginative and easy-to-use
solutions in education.
Sramana Mitra: What
year was this? Neal Taparia: This was 2001
when we first started the site. That was my junior year in high school. We
ended up building that business. Later on, we started working on it full time
after college and after a year or two of working in the corporate world. Sramana Mitra: You
kept this going as a side thing during your high school, college, and a couple
of years of working at a corporate job. Neal Taparia: That’s correct.
In high school, we did everything we could to promote the site. Back then, it
meant putting flyers all around my high school. I would even flyer the
bathrooms of my high school because I didn’t know any better. My logic was
people would read flyers in the bathroom. Lo and behold, people did.
getting users. As a high school student, I emailed the Chicago Tribune saying,
“We’re students helping students.” Within a few days, we got a callback from a
reporter. They came to my house and took pictures of me and my buddy. They
displayed EasyBib on the frontpage. It was surreal.
Our conversation continues
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 . How The Intern Group CEO David Lloyd Bootstrapped to $13 Million . How Passageways CEO Paroon Chadha Bootstrapped from Indiana . How SmartBuyGlasses CEO David Menning Bootstrapped to $50 Million . Death by Overfunding . How RainmakerForce CEO Mack Sundaram Bootstrapped Decisively to $5 Million+ . How FormAssembly CEO Bootstrapped a Virtual Company with a Paycheck . TimeSlips CEO Mitch Russo Bootstrapped to Exit with Sage . The VC-Entrepreneur Compensation Disbalance . BioConnect CEO Bootstraps with Sophisticated Strategic Maneuvering . Tremend CEO Marius Hanganu Bootstraps from Romania . Gesture CEO Jim Alvarez Bootstraps to $10 Million . SproutLoud CEO Bootstraps to $30 Million from Florida . Tuft & Needle CEO Bootstraps to Over $100 Million . Co-founders Bootstrap Linguamatics to Over $10M from the UK . Ownership Matters . Vainu Co-founder Mikko Honkanen Bootstraps from Finland . Entrepreneur Couple Bootstraps to $10M from Colorado . 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