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HOT TOPICS
- The Startup Velocity Question
- Platform as a Service
- Man and Superman
- Web 3.0 = (4C + P + VS)
- The Future: End of Capitalism
- Capitalism 2.0
Building a Fast Growing FinTech Company from Utah: MX CEO Ryan Caldwell (Part 7)
Sramana Mitra: Who was this angel investor? Ryan Caldwell: I don’t have the permission to mention him by name. He’s a rather private person. I had worked with him in the past. He invested in a previous startup of mine. We had a good working relationship. He was familiar with me and my management style.
Raising Funding on AngelList: Contactually CEO Zvi Band (Part 6)
Sramana Mitra: Let me get a couple of specifics there. What was the price point that you settled on? Zvi Band: We’ve continually changed our prices. When we first launched, we charged $10 a month. By the beginning of 2014, we charged $20 and $40 a month. Sramana Mitra: What does that mean? Zvi Band: We had
Building a Fast Growing FinTech Company from Utah: MX CEO Ryan Caldwell (Part 6)
Sramana Mitra: The first hundred that you closed, were you able to close them on the phone? Ryan Caldwell: Yes. We had to visit some people but, we were able to close most of them over the phone. Sramana Mitra: Teleweb sales, yes. Of the people that you closed in that first wave of going
Raising Funding on AngelList: Contactually CEO Zvi Band (Part 5)
Sramana Mitra: When you went to 500 Startups to raise money, what did you have in place? Of all these things that we talked about, how much of this is in place? Zvi Band: We had a prototype and we had around 100 active users. 500 Startups saw that there is a big market here. We
Building a Fast Growing FinTech Company from Utah: MX CEO Ryan Caldwell (Part 5)
Sramana Mitra: What was the financial engineering behind the acquisition? Ryan Caldwell: We acquired their company for mostly stock in MX. Sramana Mitra: You said you and a few others invested in the company and got things going. At subsequent financings, what were some of the milestones that you managed to knock off? Ryan Caldwell:
Raising Funding on AngelList: Contactually CEO Zvi Band (Part 3)
Sramana Mitra: Artificial intelligence is something I know a lot about. Help me understand algorithmically or heuristically what the software is doing. How do you decide on what you are recommending a sales person to do? Zvi Band: We have an exact picture of who you know, when was the last time you spoke to
Raising Funding on AngelList: Contactually CEO Zvi Band (Part 4)
Sramana Mitra: Talk to me a bit about customers before October 2011 and the 500 Startups funding. It sounds like you managed to get some customers to resonate with your idea. Who were those first customers? How did you get to them and what specifically did they tell you about what they wanted to see in
Building a Fast Growing FinTech Company from Utah: MX CEO Ryan Caldwell (Part 4)
Sramana Mitra: What about customer validation? How did you get this off the ground in terms of the early customers and customer input early on? Ryan Caldwell: We had to take really good care of the end user, which is our largest concern. If we don’t take good care of the customer, we can’t take