Best of Bootstrapping: EdTech Unicorn First Bootstrapped from Canada

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

In 2020, D2L CEO John Baker shared this terrific story of bootstrapped entrepreneurship in EdTech.

Sramana Mitra: Let’s go to the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind of background?

John Baker: I’m based in Waterloo, Ontario, Canada. I was born in a fishing village on the northeast coast of Newfoundland. When I was 22 years and in my third year of engineering at the University of Waterloo, I started a company with the mission of transforming the way the world learns. 

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November 3 – 595th 1Mby1M Mentoring Roundtable for Entrepreneurs

Entrepreneurs are invited to the 594th FREE online 1Mby1M Mentoring Roundtable on Thursday, November 3, 2022, at 8 a.m. PDT/11 a.m. EDT/5 p.m. CEST/8:30 p.m. India IST.

If you are a serious entrepreneur, register to “pitch” and sell your business idea. You’ll receive straightforward feedback, advice on next steps, and answers to any of your questions. Others can register to “attend” to watch, learn, and interact through the online chat.

You can learn more here and REGISTER TO PITCH OR ATTEND HERE. Register and you will receive the recording by email, even if you are unable to attend. Please share with any entrepreneurs in your circle who may be interested. All are welcome!

Cloud Stocks: Squarespace Focuses on Commerce Tools for Businesses

The global website builders market is expected to grow at 7% CAGR to reach $3.5 billion by 2032 from $1.8 billion in 2022. New York-based Squarespace (NYSE: SQSP) is helping small businesses leverage their web potential through improvements in commerce-focused tools.

Video FAQs

Thought Leaders in Cloud Computing: Movius CEO Ananth Siva (Part 2)

Sramana Mitra: Do you call yourselves an identity management firm?

Ananth Siva: We are more of a secure communication platform that uses key carrier partner networks. In the US, T Mobile is our strategic partner. We only work with T Mobile, but our service is deployed across any underlying device. Then we wrapped it with some AI capability. We are now an AI-powered secure communication company that allows employees to interact with their customers on a number that is separate from the person.

Bootstrapping Using Services from The Netherlands to a $300M+ Exit: Quintiq and ActiVote Founder Victor Allis (Part 4)

Sramana Mitra: What kind of revenue level did you get to?

Victor Allis: Ultimately in 2014, we had $100 million.

Sramana Mitra: What are the inflection points? You remember the milestones really well.

Victor Allis: The first one was in December 2000. The Dutch Railways was looking for a solution. It wasn’t part of my scope. My scope was manufacturing and trucking companies. We had never thought about Railways.

Best of Bootstrapping: What Should Tech Startups Do to Raise Seed Capital in 2022?

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page

In general, Bootstrap First, Raise Money Later is the best strategy. You need to be ready to raise money.

If you decide to raise money, I strongly suggest you read the 1Mby1M Seed Capital series of interviews on our blog ASAP. We’ve profiled investor after investor to understand their investment thesis. You need to get in their heads and get a sense of what they’re looking for, especially if you’ve never raised money before.

Remember, Investors are looking to multiply the money that they put into startups.

A bit more sophisticated way to think about it is to ask the question: Multiply by how much? 2X? 3X? 5X? 10X? 20X?

This question determines the strategies of what they’re looking to do:

• Look for Unicorns (build companies with billion dollar market caps): Go from 0 to $100M in revenue in 5–7 years.
• Look for early exits (sell capital efficient startups and make a lower multiple, but nonetheless, have a successful outcome). Bootstrapping to an Exit is a strategy that this kind of investors love. There are ways of playing this game that are somewhat different from the regular Unicorn pursuit scenario.

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594th Roundtable for Entrepreneurs Starting NOW: Live Tweeting by @1Mby1M

Today’s 594th FREE online 1Mby1M Roundtable For Entrepreneurs is starting NOW, on Thursday, October 27, at 8 a.m. PDT/11 a.m. EDT/5 p.m. CEST/8:30 p.m. India IST. CLICK HERE to join. PASSWORD: startup  All are welcome!

594th Roundtable for Entrepreneurs Starting in 30 Minutes: Live Tweeting by @1Mby1M

Today’s 594th FREE online 1Mby1M Roundtable for Entrepreneurs is starting in 30 minutes, on Thursday, October 27, at 8 a.m. PDT/11 a.m. EDT/5 p.m. CEST/8:30 p.m. India IST. CLICK HERE to join. PASSWORD: startup  All are welcome!