Sramana Mitra: Wearables is a very interesting industry that is going to be entirely design-driven. What about on the IT side whether it’s a healthcare IT or software-driven solution? What have you invested in that is interesting?
Dheeraj Pandey: We’ve done a late-stage investment in a healthcare analytics company. They’re trying to surround Epic, which is, kind of, the mainframe of healthcare. It’s a very interesting play because they’re not going directly after the “mainframe”.
>>>David Chmielewski: We established Quavo as a virtual company. We used most of the methodology that we learned at BoA. How do you run a remote company? We all decided to leave our positions and start the company.
We knew our platform like what we wanted to build on. We had a general idea of what we wanted to do. We wanted to work in financial services. We wanted to build products. We wanted them to be repeatable from one financial institution to another. It was very difficult to bootstrap from that.
>>>According to a recent report, the global infrastructure as code (IaC) market is estimated to grow at 24% CAGR to $2.3 billion by 2027 from $0.8 billion this year. IaC technologies assist system administrators in manual procedures and allow application developers to concentrate on what they do effectively by optimizing and refactoring infrastructure builds. San Francisco-based HashiCorp (Nasdaq: HCP) is a leading player in the market that recently announced its quarterly results that outpaced market expectations.
>>>If you haven’t already, please study our Bootstrapping Course and Investor Introductions page.
We’re big fans of bootstrapping to exit case studies. Imagine Easy Solutions’ Co-founder and Co-CEO Neal Taparia shares his wonderful journey. They scaled the business to over $20 million in revenue without investment and sold to Chegg in 2016.
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: Our focus is on the early stage. Let’s double-click down on your early-stage work. How do you define early-stage?
Dheeraj Pandey: I don’t believe in spray-and-pray. I get to know someone over five to seven meetings and sometimes tenacity helps as well. They must succeed if they’re tenacious. In the world of sales, I basically call it fearless. Sometimes we would use the word shameless. You cannot have shame if you’re asking for something. We do Series A and Series B as well. We started out with biotech and life sciences, but we’re looking at software more and more. It’s across geographies – US and Bangalore.
>>>Sramana Mitra: Why were you looking for remote work?
David Chmielewski: I had found my wife at Auto Owners, got married, and didn’t want to leave. I grew up in Michigan. I still live there. I wanted to have the ability to spread my wings a little bit, but I knew it wasn’t necessarily going to be an option to stay in Michigan with an on-premise job. I found this remote job.
Sramana Mitra: How did you find a remote job back then?
>>>If you haven’t already, please study our Bootstrapping Course and Investor Introductions page.
Michelle Munson is Co-founder of Aspera, a company she began after being laid off. Aspera was her realization that she could not only control her own career path, but also create jobs for other people in a culture she established. I hope this conversation from 2009 inspires everyone who has been let go by their employers. Aspera was acquired by IBM in 2017.
SM: Michelle, where does your story begin?
MM: I grew up in Kansas, on a farm. My family is a five-generation farm family that raises Angus cattle as well as wheat, corn and soybeans. There is a long-standing family tradition in both the line of business and the location. My mom is a retired university professor. I grew up in Kansas, went to school there and went to college at Kansas State University. That is an interesting point with me; I was accepted to MIT and went to Kansas State.
According to a recent report, the Global DevOps Market is expected to grow 20% annually over the next few years from $37.2 million in 2030. DevOps platform provider GitLab (Nasdaq:GTLB) recently announced impressive second quarter results.
>>>