Sramana Mitra: What are some of the major trends that you are tracking and building your strategy around as you’re watching the book business? Tony DiCostanzo: I think the one that’s most prevalent is the momentum that e-books are building in the market. That’s one of the reasons that we pursued and made the investment
Sramana: How long did it take you to launch the first version of the site? Farbod Shoraka: Once we won the money, we hired a developer and spent a few months building the first version of BloomNation.com. It was an alpha platform to give florists an idea of where we were headed. It was enough
Sramana Mitra: There are major trends in the space right now. For example, Amazon has made it very easy for independent or self-publishers to maintain a whole portfolio of books. A lot of major writers are moving to that mode of publishing. Especially in the business books genre, there’s a major shift. These are in your
Sramana: Does this mean that you are hosting their websites and helping them move their presence to your hosted sites? Farbod Shoraka: We want to partner with florists. We don’t just want to hand them a technology or a tool. We want to partner with them and help them grow their business. We give them
Sramana Mitra: How did you build the corporate business? What was the go-to market strategy and customer acquisition strategy on the corporate business? Tony DiCostanzo: Going back to the epiphany moment, the other entrenched players in the book space weren’t adequately servicing the corporate buyers. At that point, I realized that the biggest opportunity is
Sramana: What solution did you have in mind to address these issues? Farbod Shoraka: Our first beta version of BloomNation was a place where florists could create profiles, almost like FaceBook. This was a place where they could put up info about their store to include location and delivery zones. They could also list their
Tony DiCostanzo: When I started engaging customers on the website in the broader segment of enterprise sales rather than just healthcare, I initially put up the books and made single copies available. It was difficult to say, “We’re great at these bulk sales but we also can do one copy.” That’s what everybody else was doing. Within two months, I realized that
Sramana: Where were you when you made the decision to strike out on your own and start a company? Farbod Shoraka: I started out in Los Angeles. Once I realized there was a problem, I wanted to validate it, so I started walking around and talking to various florists. I just started talking to them