Sramana Mitra: Have you met any entrepreneur who is trying to merge the world of art collecting and blockchain? Shane Neman: I haven’t met them, but I have seen some decks. Sramana Mitra: If you locate them, can you send them to me? I have a concept that merges those two. I am looking for
Sramana Mitra: You were running a bootstrapped business; you had to make it profitable, otherwise you would go out of business. Shane Neman: Right. It is interesting because there were certain things that I could have done to accelerate a lot. However, I chose not to do it because it would be highly unprofitable to
Sramana Mitra: Did they come to you or did you approach them? How did you find that exit? Shane Neman: We were friendly, but we were fierce competitors. I approached him and said, “Listen, something’s got to give, I would be willing to discuss selling the company if that was something that you were interested in.
Sramana Mitra: You also did ad sales on your own? Shane Neman: Initially, I did. The first advertiser I got was a boutique that was doing a sample sale. They asked me how much I wanted to send out an email blast. I said $5,000. I just made up a number. It was whatever I
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. See how a serial entrepreneur used the ‘Bootstrapping Using Services’ methodology repeatedly to get companies off the ground. Krishna Kumar, Founder of App Orchid, I’ve learned, is now deceased. From this conversation from 2014, you can imagine that he has left behind quite a legacy. Sramana: