This feature from The Wall Street Journal looks at how consumers are finding a new balance between online and in-person shopping post the pandemic. In March, online spending dropped by 3.3%, the first year-over-year decline since November 2013 while spending in bricks-and-mortar stores was 11.2%. For this week’s posts, click on the paragraph links.
>>>Sramana Mitra: When you launched this, how did you get it off the ground? The problem you’re describing is a very large problem and there are a lot of people working on this. Data, as you know, has become one of the biggest categories in which people are doing startups. The combination of data and machine learning has become very big.
A lot of people have observed that there are non-technical people trying to make data-driven decisions. They need tools and technologies to do this. This is not a virgin field. Timeline-wise, you were in the middle of a big wave. The solution to this for digital marketing than the solution for the supply chain. Where did you start? Talk about the process of getting this venture off the ground.
>>>I’m publishing this series on LinkedIn called Colors to explore a topic that I care deeply about: the Renaissance Mind. I am just as passionate about entrepreneurship, technology, and business, as I am about art and culture. In this series, I will typically publish a piece of art – one of my paintings – and I request you to spend a minute or two deeply meditating on it. I urge you to watch your feelings, thoughts, reactions to the piece, and write what comes to you, what thoughts it triggers, in the dialog area. Let us see what stimulation this interaction yields. For today – Fall Reverie II
Fall Reverie II | Sramana Mitra, 2020 | Watercolor, Pastel, Brush Pen | 9 x 12, On Paper
Sramana Mitra: You were doing a hosted product until recently.
Francis Dinha: Yes. Even Bloomberg came to us. They said, “What about if we license your software? We pay you half a million dollars one time.” I said no. Our model is subscription. Google was our customer for three years. They used our self-hosted solution. Then they wanted to have so many features. I said, “You can take our open source and build on your own.” They did that.
Sramana Mitra: That’s a very good point – saying no to certain opportunities. It’s an important part of building a business. You have to stick to your vision.
>>>Entrepreneurs are invited to the 572nd FREE online 1Mby1M Mentoring Roundtable on Thursday, April 21, 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!
In case you missed it, you can listen to the recording of this roundtable here:
Anupam Rastogi is General Partner at Emergent Ventures, a firm focused on B-to-B tech investments.
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I’m publishing this series on LinkedIn called Colors to explore a topic that I care deeply about: the Renaissance Mind. I am just as passionate about entrepreneurship, technology, and business, as I am about art and culture. In this series, I will typically publish a piece of art – one of my paintings – and I request you to spend a minute or two deeply meditating on it. I urge you to watch your feelings, thoughts, reactions to the piece, and write what comes to you, what thoughts it triggers, in the dialog area. Let us see what stimulation this interaction yields. For today – Fall Reverie I
Fall Reverie I | Sramana Mitra, 2020 | Watercolor, Pastel, Brush Pen | 9 x 12, On Paper