Cloud Stocks: Veeva Addresses Weak Market by Expanding Offerings

The global healthcare cloud computing market is expected to grow 18% annually to reach $320.9 billion by 2034 from $41.1 billion in 2024. The growth in the market is estimated to be driven by the increasing adoption of AI and data analytics in the industry along with the expansion of telehealth and remote monitoring capabilities. Veeva (NYSE: VEEV) recently announced its quarterly results that continued to impress the market, but the weak outlook dimmed market expectations.

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Bootstrap an AI Startup First, Raise Money Later: Sean Minter, Founder CEO of AmplifAI (Part 5)

Sramana Mitra: So, when you raised $3.5 million, what did you determine as the place where you needed to invest? Was it people? Was it a certain go-to-market strategy where you were doing customer acquisition? This is a sales-based business, right? It’s a business where you have to actually do the selling. It’s not a digital marketing kind of business.

644th 1Mby1M Roundtable for Entrepreneurs Starting NOW: Live Tweeting by @1Mby1M

Today’s 644th FREE online 1Mby1M Roundtable for Entrepreneurs is starting NOW, on Thursday, June 20, at 8 a.m. PDT / 11 a.m. EDT / 5 p.m. CEST / 8:30 p.m. India IST. CLICK HERE to join. PASSWORD: startup  All are welcome!        

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644th Roundtable for Entrepreneurs Starting in 30 Minutes: Live Tweeting by @1Mby1M

Today’s 644th FREE online 1Mby1M Roundtable for Entrepreneurs is starting in 30 minutes, on Thursday, June 20, at 8 a.m. PDT / 11 a.m. EDT / 5 p.m. CEST / 8:30 p.m. India IST. CLICK HERE to join. PASSWORD: startup  All are welcome!

Bootstrap an AI Startup First, Raise Money Later: Sean Minter, Founder CEO of AmplifAI (Part 4)

Sramana Mitra: So it took you four or five years of bootstrapped business building – building the product, getting the POCs going and so forth to get to $1 million ARR. How many POC customers or the $60,000 ARR kind of range customers did you have in the pipeline when you went out to raise that first round of financing?

Sean Minter: We probably had ten to twelve clients at that point of time.

Bootstrap an AI Startup First, Raise Money Later: Sean Minter, Founder CEO of AmplifAI (Part 3)

Sramana Mitra: Let’s focus on that phase. I just want to go from that zero to $1 million ARR phase. Where did the customers come from and were you building the product with customers or did you build something and then go to customers, how did you navigate that first phase?

Sean Minter: I had a good idea of what was needed because I would have been a customer. We built most of it on my vision of was needed in the market. There was no customer involved. But for any B to B business, the only way to get your initial customers is through relationships. To be honest with you, it’s hard. That’s why it’s always good to have experience working in an industry if you’re going to do B to B.

Cloud Stocks: Workday Focuses on AI Offerings to Combat Macro Conditions

Enterprise services provider Workday (NASDAQ: WDAY) recently announced its first quarter results that surpassed market expectations. Due to the macro conditions, Workday reduced its subscription outlook for the year, sending the stock falling 11% in the after-hours trading session.

Bootstrap an AI Startup First, Raise Money Later: Sean Minter, Founder CEO of AmplifAI (Part 2)

Sramana Mitra: What were the highlights of that journey? How long did you do it for? How big did it get and what happened to it?

Sean Minter: That company got to about $5 million in revenue. We actually sold it to a larger telecom entity called Birch Telecom.