556th Roundtable Recording with Seong Kim, Chegg

In case you missed it, you can listen to the recording here:

Featured Videos

Roundtable Recap: December 9 – Discussion on EdTech Exit Strategy

During this week’s roundtable, we had as our guest Seong Kim, Corporate Strategy & Development for Chegg Inc., to discuss exit strategy within EdTech.

Relai

As for entrepreneur pitches, we had 1Mby1M Premium member Claudia Giannoni from London, UK, pitching Relai, a real estate marketplace leveraging the SaaS-enabled marketplace trend that we like a lot.

You can listen to the recording of this roundtable here:

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Non-Technical Founder Scaling SaaS Venture to Exit: Velocify Founder Jeff Solomon (Part 5)

Sramana Mitra: What is the next major milestone in the history of the company?

Jeff Solomon: Two things. We started to get heavy in insurance. At that time, the secondary education market was growing fast. It’s a very similar model to mortgage in the sense that the money was coming from the government. There was a backlash in that category as well, but we were more careful.

We diversified into those categories which protected us. We found that the categories were anticyclical. When mortgage was up, insurance was down. When insurance was up, mortgage was down. We were able to ride waves and handle the downturnts pretty well.

Video FAQs

Non-Technical Founder Building a Tech Startup to over $10m: David Moricca, CEO of Socialive (Part 5)

Sramana Mitra: Six years is a long time. How much money did you raise to get through six years with little revenue?

David Moricca: Over the years, probably $5 million or less. This was over six to eight years. It sounds crazy.

Sramana Mitra: I’m not surprised that you were able to survive on $6 million for six years. I’m surprised that you were able to raise $6 million given the fact that investors look for scalability. The whole point of venture capital financing is to go from zero to a $100 million in five years. Investors are notorious for pulling the plug the minute they see things not going in the right direction.

Best of Bootstrapping: Bootstrapping IdeaScale to $5M from Scratch

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

The Innovation Management software space is quite crowded. When I spoke to Co-founder Robert Hoehn in 2016, IdeaScale had managed to carve out a niche. Read on!

Sramana Mitra: Let’s start by going to the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind of background?

Robert Hoehn: I am from Northern New York, almost bordering Canada. I actually did Computer Science in high school. I was a pretty lucky kid to have experience in programming at a pretty young age. I went to the University of Vermont and joined their Computer Engineering program. I studied Computer Science and Business.

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556th Roundtable For Entrepreneurs Starting NOW: Live Tweeting By @1Mby1M

Today’s 556th FREE online 1Mby1M Roundtable For Entrepreneurs is starting NOW, on Thursday, December 9, at 8 a.m. PST/11 a.m. EST/5 p.m. CET/9:30 p.m. India IST. Click HERE to join. PASSWORD: startup  All are welcome!

Non-Technical Founder Scaling SaaS Venture to Exit: Velocify Founder Jeff Solomon (Part 4)

Sramana Mitra: Go back to the 2004 timeframe when you were just getting started. How did you finance the product development and the early stage of the journey. It doesn’t seem like revenues were of a scale where you can fund it with revenues.

Jeff Solomon: Initially, we funded it with cash flow from the consulting business.

Sramana Mitra: Bootstrapping using services is what we call that.

556th Roundtable For Entrepreneurs Starting In 30 Minutes: Live Tweeting By @1Mby1M

Today’s 556th FREE online 1Mby1M Roundtable For Entrepreneurs is starting in 30 minutes, on Thursday, December 9, at 8 a.m. PST/11 a.m. EST/5 p.m. CET/9:30 p.m. India IST. Click HERE to join. PASSWORD: startup  All are welcome!