Sramana Mitra: I know you filed to go public because we used to cover you before you got acquired. What was the evolution of that journey? Jyoti Bansal: Companies can go public anytime from $60 million to $300 million in revenue. We filed when we were about $160 million in revenue. We were growing rapidly
Sramana Mitra: Let me double-click down on a couple of things before we go much beyond. First and foremost, talk a little bit about your business model. The price point that you described – $25,000 per customer – indicates that you need to sell this product by telesales. Is that correct or did your average
Sramana Mitra: How much runway did you have to raise money at this point? Jyoti Bansal: I had runway. I was managing the expenses carefully. Even though we had funding, I kept the team to less than 10 people until we got to the first set of customers. Once the first set of customers came
Sramana Mitra: You do need to talk to people. The validation that you do in companies like that is the conversations that you bring to the investors. They use that as the validation. Jyoti Bansal: Exactly. That’s what I learned. I should have a lot of conversations with customers. It’s also a challenge. How do
Sramana Mitra: How did you get this off the ground? Did you build something and then go out to raise money? Jyoti Bansal: I was an engineer in my late 20s. I was convinced that there was a need there. First of all, the market was bigger than anyone thought. Then, the approach I was
Sramana Mitra: You worked for a couple of more startups after this? Jyoti Bansal: I came here because I wanted to start my own company. The challenge was that I was on an H1B visa. You’re not really allowed to quit your job and start your own company. I worked in a company for a
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Jyoti started as a first-time entrepreneur trying to do a fat startup. Read how he managed to navigate the chicken and egg, and build a Unicorn-level success. Superb story! Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were