Sramana Mitra: Wow! That’s 2010. What happens next? In 2011 to 2013, what are the next major moves? Tom Fallenstein: An acquisition that I’ve been looking to try to get for the last five years just happened about 18 months ago. We acquired the domain name fun.com. That’s ultimately the domain I wanted to expand
Sramana Mitra: That brings us to what timeframe? Praful Saklani: That brings us to probably mid to late 2007. There’s a second piece that I’d like to add to this. As we were developing this, it wasn’t just about a technology product model that we built. We actually built a whole service and delivery model
Sramana Mitra: It has a gigantic budget. Gaurav Rewari: Right. Stepping along the pillars, if you will, of IT service management to IT asset management, to IT project management, these are the building blocks of something called ERP for IT. They were imagining that into existence in the cloud. I felt that not only were they
Sramana Mitra: Wow! It must have been very scary. How long did it take you to recover that $1 million from that domain? Tom Fallenstein: It paid for itself in nine months. Sramana Mitra: Awesome. Tom Fallenstein: We bought it in January. By the time we made it through October, about 30% to 40% of
Sramana Mitra: What year does that bring us up to? Gaurav Rewari: That brings us to 2012. Sramana Mitra: That was pretty recently. Gaurav Rewari: Yes, but that startup bug I alluded to earlier hadn’t quite left me. It started biting me quite hard again. Our respective product lines at Oracle were doing really well. They
Sramana Mitra: Which brings us up to mid-2000? Praful Saklani: That’s exactly right. In 2005, I decided it was time to move back to the US for a variety of reasons. I wanted to get back into enterprise software and started to think about the things that either I had experienced as a pain point
Sramana Mitra: You can’t have everything. You have to choose. What year does that bring us up to? Gaurav Rewari: In early 2000, I decided to do another startup in the consumer space. It was a company called FirstRain, named after the Indian monsoon season. I have memories of staring out at torrential rain and
Sramana Mitra: Where were you when you were doing this company? Praful Saklani: I was back in Minnesota. We were based in the Twin Cities. Our customer base was all over the country and the world. The company that bought us was actually based out of Ireland. Sramana Mitra: Before we go into the details