Sramana Mitra: How do you charge? Is it a per user pricing model? Karl Mehta: The pricing model is exactly like Salesforce or Slack. It’s a per user per month model. It’s close to $5 to $7 per user per month. It ratchets down with volume. If you have more than 10,000 employees, you get
Sramana Mitra: To what extent are your corporate clients specifying what areas they want learning content in, which then drives your strategy of finding people who can produce that content and deliver that content on your network? Karl Mehta: When a corporate client sets up EdCast, they tell us the topics for which they set up
Sramana Mitra: This is funded by Menlo? Karl Mehta: Menlo was one of the investors, but the round was led by SoftBank Capital. Sramana Mitra: What, in a nutshell, is the premise of EdCast? Karl Mehta: EdCast is a knowledge network for anyone to develop lifelong learning as a passion. We have a knowledge economy
Sramana Mitra: There’s a lot of room for fraud. Karl Mehta: We solved a lot of problems in the payment and transaction space that had never been solved. We didn’t start out to solve the problem. We just wanted to provide a simple service. We built anti-fraud technologies. We built multi-account technologies. The most important things that
Sramana Mitra: What happened to the first company? Karl Mehta: We built it all the way. We had a great Series A from Mayfield Fund. Palm, which at that time was a mobile device, was an investor. We built it to about 70 people. Then, 9/11 happened. We had a hard time. Nobody was funding any
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Serial entrepreneur Karl Mehta is applying consumer education models from MOOCs and such to the world of corporate training. Very interesting spin on online learning. Sramana Mitra: Let’s start at the very beginning of your personal journey. Where are you from? Where were you born, raised,