Bootstrapping to Exit from Saudi Arabia: Emad Daghreri, Co-Founder CEO of Autobia (Part 7)

Sramana Mitra: So you exited this company, and you have started another company now, right?

Emad Daghreri: Yes.

Sramana Mitra: You and your partner bootstrapped the first company. You did not take any external financing and you were profitable all along. Can you speak on how you feel about bootstrapping to exit versus company that is built in the venture model? How has your thinking been in terms of building a bootstrap company versus a venture funded company? How is that thinking evolving as you go along? Tell me more.

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Bootstrapping to Exit from Saudi Arabia: Emad Daghreri, Co-Founder CEO of Autobia (Part 6)

Sramana Mitra: So, Emad, I’m going to try to synthesize all the things that you said into something that people can understand better. What I’m hearing is that in 2019 when you started restructuring the company, you created platforms for doing not only competitions and engagement but also event management and grant management.

Bootstrapping to Exit from Saudi Arabia: Emad Daghreri, Co-Founder CEO of Autobia (Part 5)

Sramana Mitra: How did your journey evolve in that 2012-17 period. How far did you get from a revenue growth point of view?

Emad Daghreri: Until 2017, the demand was high, and we started getting million dollars contracts. I had to open a technology hub in Bangalore and Jordan just to be able to keep up with the demand.

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Bootstrapping to Exit from Saudi Arabia: Emad Daghreri, Co-Founder CEO of Autobia (Part 4)

Sramana Mitra: So in the early stages, you’re doing $50K to $300K projects across two or three different types of work – the technology, the consulting, the project management, etc. How does the revenue progress in 2013-14? What kind of revenue levels did you reach?

Emad Daghreri: I’m not sure about the specific numbers, but we were always cash flow positive.

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Bootstrapping to Exit from Saudi Arabia: Emad Daghreri, Co-Founder CEO of Autobia (Part 3)

Sramana Mitra: Let’s go back to the 2012-13 time frame. You’ve done this $50,000 project, are seeing other kinds of competitive situations where you can play a role, are automating, and you’re turning everything into a digital competition. At that point in the 2012-2013 time frame, what was the price point?

Emad Daghreri: It was based on the size of the project.

Bootstrapping to Exit from Saudi Arabia: Emad Daghreri, Co-Founder CEO of Autobia (Part 2)

Sramana Mitra: Interesting. This particular project that really gave you this breakthrough situation, was it paid or was it just a complimentary thing that you were doing for Mr. Ahmed?

Emad Daghreri: It was a complimentary thing.

Sramana Mitra: So, once this worked, you took it to other people to replicate this kind of situation.

Bootstrapping to Exit from Saudi Arabia: Emad Daghreri, Co-Founder CEO of Autobia (Part 1)

Emad bootstrapped his first company and took it public in the junior stock exchange in Saudi Arabia. He is now doing a second company. This interview focuses on his bootstrapping to exit story with the first one.

Sramana Mitra: Emad, let’s start at the very beginning of your journey. Where are you from? Where were you born? Raised? What kind of background?