Sramana Mitra: I imagine, given what you’re doing right now, you’re already substantially profitable. Josh Levy: We run a profitable business. We try to invest every dollar back whether it’s additional hires, marketing, or content licensing. We still see so much opportunities in data and where the broader space can go. Sramana Mitra: That’s actually an interesting
Sramana Mitra: You started finding these use cases and segments as you launched in 2010. What did you learn about the business model and the pricing model? How did those decisions evolve and how did that turn into revenue? Josh Levy: It’s a good question. Subscription models have been around forever, but they’ve also gotten
Sramana Mitra: I’m interested in more granular information. Josh Levy: I think TV is a great example. In 2007 to 2010, television was cheap. The market and the economy were down. It was a great time for us to step in and grow the brand through television. At that time, we had been trying Facebook
Sramana Mitra: What are the use cases? What are the drivers to want to subscribe to something like this? In my life, for instance, if I need to check somebody out, I go to LinkedIn and look at their profiles. Josh Levy: If I have to pick the hardest problem for BeenVerified, it’s that we
Sramana Mitra: In 2007 when you started with this concept, did you raise money? Did you bootstrap? How did you get the business off the ground? Josh Levy: We bootstrapped it for a couple of months. My co-founder and I were working out at his house in his living room. Right around the time when
Sramana Mitra: So about 2008, you were done with HP? Terry Ryan: That’s when I started the current business I’m running. I had successful exits in the 90s with companies in which I was an early employee but I wasn’t a founder of those companies. I had some nice exits in three or four cases before I
Gone are the days when entrepreneurs boasted at cocktail parties about how many million dollars they have raised for their startups. That was so very nineties! Yes, times have changed. Entrepreneurs seem to have become savvier. In the last 2 months, I have worked / spoken with several sets of entrepreneurs who are perfectly happy
Charles Moldow of Foundation Capital writes a good piece on when and why entrepreneurs should not look for Venture money. My addendum: There is a glut of good small business opportunities out there right now, especially because the Internet makes it ever so easy to market, generate traffic, etc. I want to also point out