Sramana Mitra: Also, what you have going in your favour is that the market is starting to understand that on the Internet, content is the brand. I think that understanding is going to drive further and further into the industry in general. Yaron Galai: I don’t view Facebook as being in the business of social networks
Sramana Mitra: The publishers are paying a lot more than $10 a month. Yaron Galai: We kept it, initially, at $10 a month but it couldn’t sustain them that way. The publishers said, “If you let us pay on a per-click basis, then we know exactly how many audience we get.” We pivoted on the
Sramana Mitra: Computer Science is not ambiguous. It’s clear and logical. Part of the thing that I’ve observed at this point in my life, having seen a little bit of life, is that there is a lot of ambiguity and a lot of lack in logic in how human beings operate. I’m a very rational,
Sramana Mitra: The ratings and the Internet recommendations were free. There were no monetization model around any of that? Yaron Galai: That’s right. Sramana Mitra: The first monetization effort was with the paid recommendation of external content into these larger publishers. What was wrong? Why did the first iteration fail?
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Peter Gassner is a self-described late bloomer. In a wonderfully authentic interview, Peter describes here how he turned his middle-age crisis into a multi-billion dollar market cap company. Veeva, in 2016, will do well over $500 million in revenue and trades at a market cap of
Sramana Mitra: I have three questions as you were relating that portion of the story. It sounds like this is an experimental period. Were you financing this period yourself? Yaron Galai: Yes. I did finance our early days. I also had a couple of our investors at Quigo. Sramana Mitra: The second question is the people
Sramana Mitra: Now we’re talking 2015 and you’re trying to recover from this fiasco. Kean Graham: This was the beginning of 2014. Sramana Mitra: You did this $2 million in 2013 and early 2014, you had this fiasco. That revenue was basically being forfeited. Kean Graham: Yes, all revoked. Sramana Mitra: What was the recourse?
Sramana Mitra: It’s a very interesting angle to entrepreneurship that you shared. Colin Campbell: I have a unique perspective in that I’ve done company after company. I’ve worked at a larger company. The interesting thing is you begin to see patterns emerge. This is where I’ve been able to learn a bit of a formula