Seong Kim, Corporate Strategy & Development for Chegg Inc., discusses exit strategy within EdTech.
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The Global Expense Management Software market is estimated to grow at 16% CAGR from $5.5 billion in 2020 to to $13.3 billion by 2026. San Mateo-based Coupa (Nasdaq: COUP) is building on its PaaS initiative to target this high growth market.
>>>Vamsi has bootstrapped Gathi to over $26M in revenue in four years and exited at a fabulous multiple. Much to learn from his journey.
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?
>>>This feature by Micah Rosenbloom and Joseph Flaherty on Founder Collective reiterates the 1Mby1M philosophy of not overdosing on venture capital. For this week’s posts, click on the paragraph links.
>>>Most businesses can be launched in a capital efficient manner. Most businesses can go a long way in a bootstrapped mode. As long as you’re not taking on capital guzzlers like drug discovery or semiconductor chips, you have many options to explore.
At 1Mby1M, we don’t insist on fund raising. A bootstrapped, capital-efficient, million dollar business is considered a success in our worldview, as long as you are profitable and sustainable.
>>>Sramana Mitra: What is the total amount from friends and family investors to get to $10 million?
David Moricca: Maybe $9 million. $6.5 million was not as Socialive. A lot of companies do pivot. I hear stories about companies who fail for the first time. They just restart. The thing about that is you’re leaving your investors high and dry.
Sramana Mitra: That is correct. If you have professional investors who are accustomed to taking losses and just writing off things, it’s one thing. If it’s personal relationships at stake, you have to honor those. Friends and family investments have pros and cons. What you’re pointing out is that if you leave them high and dry, then you lose the relationship.
>>>Seksom Suriyapa, Partner at Upfront Ventures, and formerly head of Corp Dev at Twitter, SuccessFactors, McAfee and Akamai, discusses exit strategy from the buy-side perspective at length.
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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 – Namibia II
Namibia II | Sramana Mitra, 2020 | Watercolor | 18 x 24, On Paper