According to a recent report, the global big data analytics market is expected to grow at 13% CAGR to reach $549.73 billion by 2028 from $231.43 billion in 2021. Redwood City-based Sumo Logic (NASDAQ: SUMO) is meeting this growing demand by improving its product offerings and expanding its use cases in the gaming industry.
>>>Sramana Mitra: Talk to me about the customer acquisition strategy. Beyond the partnerships through which you got to the first base, what did you do from a sales and marketing point of view that got you to the next level?
Joris Kroese: There are different phases there, but we started simply by appointing people who would use their own outreach techniques to prospect potential buyers. It was mainly one-on-one and not so much marketing yet.
>>>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 IV
Fall Reverie IV | Sramana Mitra, 2020 | Watercolor, Pastel, Brush Pen | 9 x 12, On Paper
Sramana Mitra: Business model is SaaS?
Joris Kroese: It’s SaaS. Our clients are the brands where we basically add these e-commerce capabilities on a fixed fee per month per country.
Sramana Mitra: It sounds like your primary channel was tagging along with the sales team of this content syndication company. Was that the only channel?
Joris Kroese: Initially yes.
>>>Sramana Mitra: How long did you do the IT services work?
Joris Kroese: For a year and a half, after which, I sold the company. I actually had a new business idea in my mind while I was still running the e-commerce business. We did a lot of turnovers. We were a much-appreciated business partner for business brands. All those brands, back then, had a dealer locator.
>>>Entrepreneurs are invited to the 573rd FREE online 1Mby1M Mentoring Roundtable on Thursday, April 28, 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!
Andrus Oks is Founding Partner at Tera Ventures, based in Estonia. We have a great discussion on entrepreneurship in the Baltic and Scandinavian countries in particular.
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In case you missed it, you can listen to the recording of this roundtable here: