Manish Sood: Consider how these customers look at engaging with their customers, vendors or gathering any kind of competitive information around products they are selling in the market. All of these different types of problems, whether it’s customer loyalty, customer experience, or customer engagement, requires you to think about bringing data together from multiple sources— both
Sramana Mitra: Before we get into the new venture story, you mentioned that you ran two startups while you were in the US. Were they companies that you founded or recruited to run? How did those come about? It sounds like that’s where you got some of your entrepreneurial experience as well. Ofer Yourvexel: The
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Here’s yet another case in point in our Bootstrapping Using Services series. Manish is scaling Reltio super fast at this point, and has raised venture capital, consistent with our theme Bootstrap First, Raise Money Later. Sramana Mitra: Let’s start at the very beginning of your journey.
If you can build a business with inbound marketing primarily, without having to invest heavily in outbound marketing and sales, it is generally much more capital efficient. Ofer shares his experience in building Pepperi from Israel in that revenue run rate. Sramana Mitra: Let’s start at the very beginning of your story. Where are you from?
Sramana Mitra: Where are you in terms of revenues? Frank Sheppard: Last year, we did $21 million. Over the last two years, we’ve grown 20% and we’re projected to grow 20% this year. Sramana Mitra: Current business is growing at about 20%. How profitable is your business? Do you put a lot of profit into
Frank Sheppard: The other part of it is the reorganization of pharmacies. Traditionally, pharmacies are focused on filling prescriptions and are very reactive to patients coming in for that purpose. We’re doing things to make a lot of pharmacies more proactive, so instead of waiting for patients to engage them, we’re trying to find ways to enable
Sramana Mitra: I want to probe that a bit before we go beyond 2010 to the new mode. Let me just get the benchmarks on the 2005 to 2010 when you started focusing on patient reminders. What did that do to your business in terms of growth? Where were you in 2010 for instance? Frank
Sramana Mitra: How fast were you able to course correct on that? I imagine that when you saw that things were not working out, you fired the CEO. When did that happen? Frank Sheppard: Late 2003, I believe. We were probably short of bankruptcy, but like all good entrepreneurs, we were too stupid to do