SM: What is Elevation’s investment thesis regarding positioning? Is it still a prosumer play? EB: The Elevation thesis is pretty simple. It basically says that smartphone market is at its very infancy, and the arrival of the iPhone is expanding the opportunity, making it more real to more people. It is very clear that it
SM: How did you fund the first phase for Cashview? RL: We had some Angels. We raised about $1.5M from some friends, which kept us going for a year and a half. I talked to 80 venture capitalist for PayCycle in the Fall of 2000. I had phone conversations with 20, meetings with a dozen,
Palm’s Elevation Partners deal is a smart move to give the cmpany its best shot at a turnaround. Jonathan Rubinstein joins as Executive Chairman, as part of the deal, and the transition is due to happen soon. SM: What about the CEO though? EB: What was critical was to be able to add this talent
SM: What is your educational background? RL: I went to school at Stanford and ended up with a Masters in electrical engineering and an undergraduate in economics. When I was looking for a job, a lot of consulting firms came calling. They were saying “Come work with us. You will work 80 hours a week
SM: So services as a key strategic initiative you think is still in beta! EB: Well, this was a core opportunity. In the Spring of 2005, at an annual strategy board meeting, it was decided that a key goal for the company would be in the subscription area. We had not been able to execute
René Lacerte is the founder and CEO of Cashview, a Web-based cash management solution delivered as a SaaS. Prior to Cashview, René founded PayCycle, which I covered recently. In this interview, we will trace the thinking of a serial entrepreneur who brings substantial SME and SaaS expertise to the table. SM: René, I would like
SM: What kinds of problems have you identified as big open problems you are going to tackle in the labs? TL: We are always working on making the service faster, scalable and more reliable. We have a team of folks that are looking for the 1 in 10,000 to the 1 in 100,000 “nasty thing”
SM: You may have to do some of that equity/liquidity swapping due to the structure of venture funds. JH: One of our funding sources may have to close out their fund, and in that case we will go find someone to help do that. In fact we just recently had a conversation about this amongst