Sramana Mitra: How much did get paid by this customer that gave you the first use case? Christian Geyer: I believe it was $300,000. Sramana Mitra: And this $300,000 came into the original company?
Sramana Mitra: Were you aware of this regulatory requirement in your original business? Christian Geyer: Yes. I was part of a cybersecurity incident response company back in 2016 at the Crypsis group I had talked about. We sold it for $260 million to Palo Alto Networks, a cyber security company.
Sramana Mitra: What was the subsidiary doing that warranted spinning it out into its own company?
Christian convinced the Board of his employer to let him incubate a Cyber Security startup idea as a division of the company with an express intent of spinning it off. Now, the company has been spun out, doing almost $20M in bootstrapped annual revenue, and may soon find a lucrative Exit. This is a phenomenal