Sramana Mitra: Your site operates as a two-sided marketplace except you store the inventory. Sal Akbani: Yes, and we have currently 14 plus 1. Sramana Mitra: What does that mean? Sal Akbani: We have 14 active ones [warehouses] and we have one more coming up in Denver on June. We’re currently also working in Scottsdale
Sramana Mitra: What year did Bill start coding the product? Mark Dorsey: That was in 2007. He started building Bonanza from the ground up. At that time, there were a lot of eBay alternatives. The opportunities were obvious. There were a lot of programs that allowed you to create an e-commerce marketplace by just filling
Entrepreneurs are invited to the 352nd FREE online 1Mby1M mentoring roundtable on Thursday, May 11, 2017, at 8 a.m. PDT/11 a.m. EDT/8:30 p.m. India IST. If you are a serious entrepreneur, register to “pitch” and sell your business idea. You’ll receive straightforward feedback, advice on next steps, and answers to any of your questions. Others can register
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Bonanza has scaled to over $75 million in revenue with just $1 million in funding. It was bootstrapped for several years before a penny of external financing was raised. Amazingly crisp execution. A must-read story of how a two-sided marketplace was masterfully seeded and scaled. Sramana
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Sal has bootstrapped Gateway Classic Cars to over $10 million in revenue. Another great story of how a two-sided marketplace was masterfully seeded and scaled in a niche market. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were
In case you missed it, you can listen to the recording here:
Entrepreneurs are invited to the 352nd FREE online 1Mby1M mentoring roundtable on Thursday, May 11, 2017, at 8 a.m. PDT/11 a.m. EDT/8:30 p.m. India IST. If you are a serious entrepreneur, register to “pitch” and sell your business idea. You’ll receive straightforward feedback, advice on next steps, and answers to any of your questions. Others can register
During this week’s roundtable, our guest was Nilay Banker, Founder & CEO at Inspyrus, who took us through his wonderful bootstrapping using services story, along with nuances in business model innovations. We also announced the launch our new podcast channel this week. Entrepreneurs with any interest in engaging investors and venture capitalists would be wise