Sramana Mitra: Other than the $400,000 that you got from the first investor, did you raise more money subsequently? Alon Aginsky: No. Sramana Mitra: You basically customer-financed the company, right? Alon Aginsky: Yes, it was completely bootstrapped. Sramana Mitra: So you finished college and then went to work for this company full-time. Alon Aginsky: Yes.
Sramana Mitra: Besides the $600,000 and the $200,000 that you raised, did you raise more money? Josh Levy: We did. We did a Series B with another high net worth extended friends and family group for around $1.3 million in 2012. Sramana Mitra: So you’ve raised over $2 million to build the business. Josh Levy:
Sramana Mitra: What happens in 2000? Jason Wells: I had spent a lot of time internationally while at A.T. Kearney. In January of 2000, I left A.T. Kearney to start my first entrepreneurial venture. The company was called Globient. This was at the peak of the dot-com era. There were many companies that were in mezzanine
Alon Aginsky: Hotels made a lot of money from 800 number calls and calls made locally from the rooms. That was the second most important income for hotels, hospitals, and universities. I wondered if there’s something that I can do in New York. I grabbed a few of those cards with me and took a plane to
Sramana Mitra: You started finding these use cases and segments as you launched in 2010. What did you learn about the business model and the pricing model? How did those decisions evolve and how did that turn into revenue? Josh Levy: It’s a good question. Subscription models have been around forever, but they’ve also gotten
We’ve covered several stories of tech startups in Utah. Convirza is yet another interesting company from the mini tech hub. 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? Jason Wells: I was born and raised in Fresno,
As a variation on our ‘Bootstrap First, Raise Money Later’ theme, we also see many entrepreneurs who have bootstrapped a first company (or business), and then gone onto venture-fund a second. Christian Chabot built Tableau Software in this mode. Sridhar Vembu built Zoho. We have numerous examples of this tried and true path. Something to
Sramana Mitra: I’m interested in more granular information. Josh Levy: I think TV is a great example. In 2007 to 2010, television was cheap. The market and the economy were down. It was a great time for us to step in and grow the brand through television. At that time, we had been trying Facebook