Entrepreneurs are invited to the 209th FREE online 1M/1M roundtable mentoring session on Thursday, March 20, 2014, at 8 a.m. PST/11 a.m. EST/8:30 p.m. India IST. If you are a serious entrepreneur, register to “pitch” and sell your business idea to Sramana Mitra. You’ll gain straightforward feedback, advice on next steps, and she’ll answer any
Sramana Mitra: What was the monetization model on that one? Were they monetizing well? Blaine Vess: I don’t think they were monetizing as best as they could, but both of them were making money out of Google AdSense. Flash Card Exchange had a lifetime membership for $20 a month. If you paid, you would not
Sramana Mitra: But it did not pan out that way? Blaine Vess: It did not pan out, but we learned a lot in the process – mainly about a lot of the things that we were doing wrong like not having employees. We had very high margins. We were making a lot of money and
Sramana Mitra: In 2008, you have got one acquisition under your belt. What happens next? Blaine Vess: We ended up buying another site, which was called All Free Essays. It was another site that has been around since about 2000. It was not monetized at all. I had been reaching out to the owner for
Sramana Mitra: I want to know precisely what happened in 2008. What are the significant things that you did in 2008 and how did those play out? This $1.1 million, was there a concentration of colleges you were getting this from? Blaine Vess: In 2008, we launched in international markets and started the acquisition of
Sramana Mitra: Was Chris working full time or did he take up another job? Blaine Vess: Chris was working full time on this business. He was also doing the contract programming with me. Sramana Mitra: You guys were doing contract programming. You had a job and Chris was doing the business?
Sramana Mitra: What was the motivation? If I am a student, why would I want to load up my course notes? Blaine Vess: The main motivation is to get access to other people’s course notes or research. Say you’re writing a research paper on global warming and you have a writer’s block or you’re three
Entrepreneurs are invited to the 209th FREE online 1M/1M roundtable mentoring session on Thursday, March 20, 2014, at 8 a.m. PST/11 a.m. EST/8:30 p.m. India IST. If you are a serious entrepreneur, register to “pitch” and sell your business idea to Sramana Mitra. You’ll gain straightforward feedback, advice on next steps, and she’ll answer any