Deepak Balakrishna, Co-founder CEO of Adya, which was acquired by Qualys. We review his lessons from the trenches, steering a Bootstrapping to Exit transaction.
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Sramana Mitra: How much did you raise in the second round?
Jonny Grubin: Probably about £300,000. In total, we raised about £900,000.
Sramana Mitra: Excellent. I love capital-efficient businesses.
>>>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 – Purple Blossoms
Purple Blossoms | Sramana Mitra, 2020 | Watercolor | 9 x 12, On Paper
Sramana Mitra: 2014 and 2015, more of the same?
Jonny Grubin: Our focus and what I had built this business around was gifting samples to a friend. We were doing well with that. There was nobody else in the space. Brands loved it. We were on a pretty exciting trajectory. We had a lot of brands come to us saying, “We want to be able to sample in other ways. We don’t do it through just a gifting experience.” It was only down to my stubbornness that we focused solely on gifting for so long.
>>>In case you missed it, you can listen to the recording here:
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 – White Blossoms
White Blossoms | Sramana Mitra, 2020 | Watercolor | 9 x 12, On Paper
Entrepreneurs are invited to the 563rd FREE online 1Mby1M Mentoring Roundtable on Thursday, February 10, 2022, at 8 a.m. PST/11 a.m. EST/5 p.m. CET/9:30 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!
During this week’s roundtable, we had as our guest Naganand Doraswamy, Managing Partner and Founder at Ideaspring Capital. Naganand added to our thesis on great investment opportunities within the sub $100 million exit space.
Tonic Audio
As for our entrepreneur pitch, we had Eithan Clift from Reno, Nevada, pitching Tonic Audio, a platform for musicians to create songs.
You can listen to the recording of this roundtable here: