Sramana Mitra: So, now let’s talk about healthcare, specifically in the US. What kinds of opportunities are you zeroing in on with these investments? I would like to actually brainstorm a bit about the healthcare market in general, because as I’m sure you believe, I also believe that healthcare is one of the biggest opportunities of this next wave of technology – all the AI and everything. Every time you think about it, healthcare is one of the great unsolved problem that AI can really revolutionize.
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Julien Pham, Founder GP at 3CC | Third Culture Capital, talks about the firm’s focus on HealthTech. Julien is a physician by training. Excellent discussion!
Sramana Mitra: It’s my pleasure to welcome back Julien Pham from 3CC, Third Culture Capital for a catch up conversation. Juliane, welcome back.
>>>This report from Nasdaq looks at the highlights of IPO listings in the first half of 2024. There were 66 IPOs in the first half of the year that together raised $8.7 billion. For this week’s posts, click on the paragraph links.
>>>Sramana Mitra: You have about a $12-$15 million company right now, is that right?
Abhinav Girdhar: I would say north of that, but i don’t have the real numbers on top of my head.
Sramana Mitra: And it’s a bootstrapped company?
>>>Sramana Mitra: Okay, when did the Automate product come out?
Abhinav Girdhar: That was prior to Design. We launched it during the thick of Covid. Now, we’ve got three of these products doing pretty well.
Sramana: The Automate product is also at a million dollar run rate?
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Sramana Mitra: Can you talk about the pricing strategy?
Abhinav Girdhar: We strategize in terms of what value we are adding to the platform. So we started as an app builder, later on we started offering a free website with an app. So when you create an app you also get a website.
>>>Sramana Mitra: Ok, so you spun it out around $1 million ARR?
Abhinav Girdhar: That’s correct.
Sramana Mitra: So now that you’re at $1M ARR, has a shakeout happened in the market? Have some of the other smaller competitors started folding or consolidating? What’s the situation?
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