Sramana Mitra: You’ve taken seven years to build $17 million in revenue. That’s not a timeline that fits in the venture capital framework. The venture capitalists are looking to build hundred million dollar companies in seven years. This is what I’ve been really concerned about. For a long time, venture capitalists basically just decided not
Sramana Mitra: I’m very interested in the business model. That’s one of the issues that we’re seeing in the Edtech industry. The business models are weak. Katya Andresen: I agree with you. It can be really hard to monetize a social network. That is not our model. Our model is that we have consumers –
Sramana Mitra: I’d like to double-click down on some of these use cases and examples. Why don’t we pick three or four different scenarios, which are really interesting ways in which your customers and users are using the products. Katya Andresen: I’ll give you a couple of relevant examples. We have a product coming out
Sramana Mitra: That’s not necessarily the only kind of companies that VCs back. VCs also back enterprise software that delivers that kind of growth. In fact, I would say the IT industry’s bread and butter success have been from enterprise software – not from consumer software. Eric Burns: I guess the thing that may have
Sramana Mitra: In terms of other vendors that you compete with, whom do you see in deals? Eric Burns: Initially, we were quite afraid of what seemed like the incumbent player in the lecture capture market in the higher education, which is a company called Tegrity. I think it’s safe to say that we badly
Sramana Mitra: So roughly speaking, it is end of 2007. How much venture capital did you raise at that point and how long did it take you to get the first product out of the door? Eric Burns: We had an extreme advantage here, which is that we have the opportunity to research that market
Sramana Mitra: Are you assuming that there are three parallel streams being picked up? Where is the mixing happening? If you say there’s no post-production, is the technology determining how to do the mixing or which stream to use in the edited version or are you showing all three screens in different windows? Eric Burns: It’s
Sramana Mitra: They basically asked you to become the CEO of this entity that was already funded? Eric Burns: I actually became the Chief Technology Officer because my competencies at that time were that of an engineer. I’m now the Chief Product Officer and I’ve done a lot of the CEO duties. We have this