Sramana Mitra: I was about to ask you about the commercial terms that you negotiated with the company that was giving you all this input about what to build. How did you structure the terms? Christian Vanek: The terms were very simple. It was a gentleman’s agreement to be honest and we still are upholding
Sramana Mitra: What was the focus? What drove the process of determining where you were going to focus? Guy Mucklow: One of the things that we had done in trying to get PCA off the ground was to look at a piece of technology, which actually is very prevalent in the UK, around capturing data
Sramana Mitra: How long did you stay at this? Christian Vanek: I stayed at it for two and a half years before I ran out of money. Sramana Mitra: That brings us to 2001? Christian Vanek: Yes. Sramana Mitra: What did you do next?
Sramana Mitra: What did you burn the $200,000 on? Guy Mucklow: Partly salaries and technology. Though we were building a lot of stuff ourselves, we needed infrastructure to support the service we were building. If you look back on those times, you think, “Why on earth did I do that?” We spent $50,000 on just building
Sramana Mitra: What was the evolution of your career as a software programmer in this travel services company? Christian Vanek: I worked on building the system for that conference company. Then the parent company asked me if I’d like to join them as an actual official developer. I was given more of a traditional developer title.
If you haven’t already, please study our free Bootstrapping course and the Investor Introductions page. Guy has bootstrapped his company to $20 million, and last Christmas, turned down a $100 million acquisition offer. Read how he has navigated his venture. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from?
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Christian has bootstrapped SurveyGizmo to $13 million from Boulder, Colorado. He has experimented with both freemium and free trial, and has managed to monetize nicely. Read more about the strategies that have worked for him. Sramana Mitra: Let’s start at the very beginning of your journey.
Sramana Mitra: People do comparison shopping all the time. Steve Yi: Exactly. Amazon does the same thing. When you look for a product on Amazon, they will actually have listings for competitive retailers. It’s a combination of insurance revenue and understanding that there is media revenue from your property that you can extract. In turn,