Sramana Mitra: The customers are pharmaceutical companies? Janet Kosloff: Correct. They are brand managers, market researchers, and M&A specialists. Sramana Mitra: Was your MVP an app? How did you structure the MVP? Janet Kosloff: We did not have an app originally. We have an app now but our primary tool is a web application that
Sramana Mitra: What market were you going after? Was Investorist focused on the Australian market to start with? Jon Ellis: To start with, it was. Initially, Investorist launched as an idea of working just in the Australian market. As soon as I launched, I’ve probably been active for six months and then I realized that to
Sramana Mitra: What year are we talking? Janet Kosloff: This was 2010. I wrote the business plan in 2010 and I started to think about it. Once I was ready to take the leap, I left my job because I am very commerically-oriented, and I wanted to find a co-founder that had more of the
Sramana Mitra: After you quit Mirvac, you started an ad agency? Jon Ellis: I didn’t intend to start an ad agency. I just intended to work as a marketing manager for other property developers. Very quickly, I realized that there weren’t a lot of experienced marketers. There was an opportunity to work for a number
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. You know I don’t buy into the men saying that there’s a bias against women entrepreneurs in the industry. Janet doesn’t either. Here’s an opportunity to learn from her success in building solid revenues, and a profitable business. Sramana Mitra: Let’s start at the very beginning
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Jon has side-stepped venture capital, and raised a significant funding from his customers. He hopes to take the company public in Australia once the company gets to about $50 million in revenue. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you
Sramana Mitra: If you can attract bank financing and can do things with bank financing, it’s hugely advantageous from an ownership point of view. Vlad Friedman: Exactly. Today, we’re at about $18 million run rate and on our way to hit $20 million this year. We’re still in the same position. We still have a strong
Vlad Friedman: Over the course of time, it was almost like there was an impasse where by the time the recession hit in early 2000, we had just reached our stride. We were sitting in a good place. We were starting to build these relationships with more and more customers. As the market bottomed out,