Sramana Mitra: What year does that bring us up to now? Jason Hogg: We’re now in 2002. The timing was actually interesting because when I was graduating from Cornell, the first dot-com bomb had gone off. There were a series of venture capital and private equity shops that had made co-investments in a number of
Sramana Mitra: Was that $1 million in the beginning the only capital infusion or have you had other capital infusions? Peter Lehrman: Since then, we’ve raised another $20 million. Sramana Mitra: Walk me through the chronology of those rounds of financing. Peter Lehrman: The subsequent $20 million has been raised across three financing rounds. The
Sramana Mitra: Based on our conversation so far, I picked up two key philosophies on how you build your company. One is this extensive A/B testing to optimize your customer acquisition. The second is evolving the product continuously through customer input and iteration. Andrew Filev: It’s true but I would phrase it a little differently.
FinTech is hot these days. Jason has particular expertise in the segment, and he discusses his multiple ventures. Sramana Mitra: Let’s go to the beginning of your personal story. Where were your born, raised, and in what kind of background? Jason Hogg: I’m from New York originally and grew up just outside the city. My
Sramana Mitra: How do you acquire members for your community? What is the marketing strategy? How do people find out about you? Peter Lehrman: We have a couple of different strategies for the different markets that we’re pursuing. We pursue sources of capital and the investment banking and business brokerage community. Beginning in 2014, we
Sramana Mitra: Let’s go back to a bit more of a chronological story. I understand the philosophy of how you built the company. It’s very interesting what you can do today in terms of really doing these kinds of testing on all marketing exercises at a very dramatic level. Today’s world allows you to do
Sramana Mitra: You have chosen to grow it to a substantial level with profits. What do you want to do with this company? Is it something you’re looking to sell? Do you want to continue running it forever? Belisario Rosas: Continue it. We run the company like a family business. We want to be one
Sramana Mitra: You were providing the management tools on the transaction but you were also making those connections. Peter Lehrman: Yes. At the core of Axial is a search engine that looks at the data related to the company that is raising capital or is for sale. It looks at all the data that is