Sramana Mitra: I actually have a BMW 3 Series that I categorically lease. I change them every three years. Dave Elkington: It’s uncanny. Every time I give the example, there’s a 90% overlap. People cluster with other people who behave similarly. What I needed to build was a massive engine that collected all of those
Sramana Mitra: At what point does the strategy change? You described one strategic change which went from pure services to multi-year contracts and then to reselling other people’s software. What’s the next major change in strategy? Bill Moschella: The next major change in strategy happened somewhere around 2007 where the reselling of original equipment manufacturing
Sramana Mitra: You started PMG as a services company in 1997 in Atlanta. What happens next? Robert Castles: We had some pretty good success. We went through the whole Internet explosion and the dot-com startup era. We built a lot of very neat websites for companies ranging from Mitsubishi Wireless with an interactive cellphone on a web
Dave Elkington: I decided to quit and come back to school to get a master’s in Computer Science. The rationale was two-fold. One, I believed that coding was not that hard. It’s not as challenging as the programmers try to make it. We were paying, at that time, exuberant amounts for people who weren’t that
Yet another case study of a services company successfully bootstrapping a product, then raising Venture Capital! Sramana Mitra: Let’s begin at the beginning of your personal story. Where are you from? Where were you born and raised? What’s the back story of your entrepreneurial story? Bill Moschella: I was born and raised in Connecticut. I
The tried and true 1M/1M theme of Bootstrap First, Raise Money Later rings through Dave Elkington’s story. He used services to bootstrap a Unicorn that has since raised close to $140 million in VC funding. Revenue has scaled 100% year on year the last few years. Sramana Mitra: Let’s start at the very beginning of
Adding to our roster of Bootstrapping Using Services case studies, here’s PMG from Atlanta. Sramana Mitra: Let’s start at the very beginning of your personal journey. Tell us a bit about where you come from, where you were born and raised, and in what kind of background. Robert Castles: I was born in Columbia, South Carolina.
Sramana Mitra: By the time you went to raise this $2.4 million, you had customers? Joshua March: Yes, we had customers. It was still early on. We then sold the agency. In early 2012, we succeeded in selling the agency to a larger agency. Sramana Mitra: How much did you get for the agency? Joshua