Following up on our ‘Bootstrapping Using Services‘ and ‘Bootstrap First, Raise Money Later’ case studies, here’s the story of PhishMe, a cyber security company that has scaled nicely. Sramana Mitra: Let’s start at the very beginning of your story. Where are you from? Where were you born, raised, and in what kind of background? Rohyt
Sramana Mitra: Were you seeing the same kind of conversion levels from free to premium? Aytekin Tank: I can’t actually recall the numbers right now. Sramana Mitra: This is a very big question. Whenever people are doing freemium products, it’s a question that we ask. It’s something that people are trying to understand. What are
Sramana Mitra: Did the market accept that you had a better product? Aytekin Tank: Yes. Sramana Mitra: Who were the competitors that you faced at that point? Aytekin Tank: JotForm came out in February 2006. Before that, there were many forms products. All these products had old interfaces. Most of them are not very popular
Sramana Mitra: What was the revenue level when you quit your job and went full-time with the business? Aytekin Tank: It was a little higher than my salary, but it wasn’t too high. Sramana Mitra: I can’t gauge from that. What are we talking? Are we talking $10,000 a month? Aytekin Tank: It was less
If you haven’t already, please study my free Bootstrapping course. Aytekin is a Turkish entrepreneur who has bootstrapped his company with a paycheck. He has used a freemium business model, and a virtual team strategy to scale. Sramana Mitra: Let’s start at the very beginning of your journey. Where were you born, raised, and in what
Sramana Mitra: The story that you described from 1995 to 2008 is not Perigen? Emily Hamilton: Correct. Perigen acquired all of the assets of that company. Sramana Mitra: Who’s Perigen? Matthew Sappern: Perigen is actually the combination of a company called E&C Medical, which was based in Tel Aviv that was trying to do pretty
Sramana Mitra: How many hospitals, for instance, were you able to sell your product to in that early phase right after getting the prototype? Emily Hamilton: Almost all of the hospitals in Montreal. We have two medical schools here. I had colleagues in many of the hospitals who were former students or colleagues for many
Ernie Bray: The challenge we found with virtual workforce was that some people just don’t fit well in that model because they get distracted too much. They don’t focus on what they’re doing. Because we’re a results-oriented company, we have our computer technology in our platform, we can monitor pretty much whether they’re getting the