If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Shane has built a 140-people virtual team-based business from Ireland. Very interesting view into a different part of the world. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind of background?
Sramana Mitra: What else is interesting and what’s worth highlighting in your entrepreneurial journey from a lessons from the trenches point of view? Kris Duggan: There are probably a million directions we could go. One thing I would say as being very important is to be very focused as a company. I think we decided
Sramana Mitra: It sounds like at this point, you have decided on the positioning and the target market. You started generating revenue. You hit the million dollar mark. What’s the next major inflection point? Mikko Valimaki: One important point in the early days was, we were also talking with venture capital. When we got the
Sramana Mitra: You basically were putting embedded code on the devices for filesystem management. Mikko Valimaki: Yes. Looking back, I think we made the right choice. We were able to grow really fast in the selected Asian market. When we were in the open source stage, I would say that from the early revenue, it
Sramana Mitra: Was there a segment where you were finding traction from a size point of view or any other segmentation parameter? Kris Duggan: I would say that initially when I first started the company, I thought this might be for companies that are not too big. Maybe if you’re a thousand or ten thousand
Sramana Mitra: Can you highlight what was different in the commercial product versus the open source product? From a product positioning point of view, why would somebody who was interested in the open source product buy this one? Mikko Valimaki: I would say there are three reasons. Some of our biggest customers were very hesitant
Sramana Mitra: What happened to Badgeville? Kris Duggan: It’s still going on. It’s growing and moving forward. Once you have a founding CEO replacement, there’s a lot of turmoil brought in by the CEO that was brought in. Now, they’re on to their third CEO. Those kind of challenges can be very disruptive to a
Sramana Mitra: Were they willing to pay if you had a good website and if you had a company? Mikko Valimaki: We were able to get some of our very first money just by basically consulting and helping some of the first commercial users. For that, we improved the website a little bit. We tried