Sramana Mitra: How did you select whom to put in the private beta? How were you finding these beta customers? Ilana Stern: It started with my network. The fact that I am in the target audience is really helpful because I am the customer and the people around me are too. The first few customers
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. See how a serial entrepreneur is using the ‘Bootstrapping Using Services’ methodology repeatedly to get companies off the ground. Sramana: Krishna, let’s start with the beginning of your personal story. Where are you from, what is your background? What leads up to your entrepreneurial story? Krishna
Ilana Stern: What was really interesting was that I saw this disconnect between the supply side and the demand side. If you took a millennial bride and looked at how she lived her life in general, it’s very different from how her mother lived her life in terms of how she consumes media, how she
Sramana Mitra: Your customer base is enterprise customers? David Steinberg: Yes, our customers are enterprise. Sramana Mitra: You were just talking about specifically how you’ve differentiated and brought the pieces together using, to some extent, a roll-up strategy. Is that part of the strategy now? David Steinberg: No, we’re not a roll-up strategy.
There aren’t that many venture-funded fashion e-commerce companies out there. The main reason is that the venture capital business is dominated by men, and typically, women happen to be more in tune with fashion. Ilana Stern is building a very interesting fashion company focused on bridesmaid dresses as the starting point. Sramana Mitra: Let’s start with
Sramana Mitra: These companies that you brought together to get the base level offering going, how did you identify them? David Steinberg: That’s a great question. I took a core team from my last company who focused on M&A and corporate strategy. That team started looking around and calling everybody on earth. For example, we started
Sramana: Why did you make the decision to build your business without external financing? Christopher Aker: Once we started gaining traction, and once the industry woke up and realized where things were going, we have had incredible interest from VC firms. There has been a constant stream of phone calls and emails since the very
Sramana Mitra: That IPO was 2004? David Steinberg: That’s correct Sramana Mitra: You stayed with the public company till? David Steinberg: 2007. Sramana Mitra: Is that the timeframe in which you started the current company?