Sramana Mitra: The first $700,000 of revenue, did that come from any of these cohorts? Vishaal Melwani: Yes, all these cohorts really converted well for us. We noticed it right away. Word of mouth also became really big for us. One investment banker would get a white shirt and he would then spread that through
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. We don’t hear of cutting edge technology ventures out of Australia succeeding in the marketplace. ROKT is a rare gem, and a fascinating story! Sramana: Bruce, where are you from? What kind of background do you come from? Bruce Buchanan: I was born in Sydney. My
Sramana Mitra: Tell me more about how you bootstrapped. What were some of the components of that bootstrap phase? Vishaal Melwani: I didn’t know too much about startups. I didn’t know anything about Silicon Valley or raising money. We just knew how to build businesses that were cash flow positive. That was our number one
Sramana: It sounds like your thesis is that you want to get adoption and your assumption is that your free customers are eventually going to monetize. Is that correct? Max Schireson: I suspect that most of them will not. That is OK because a lot of them will. The big banks and government agencies pay.
Sramana Mitra: Can we go back to the exact moment when you decided that you were going to do this business? What triggered the idea? What was going on in the industry? What are the dynamics of the founding? Vishaal Melwani: One of the biggest things that struck me was there’s a need for this.
Sramana: When did you join the company? Max Schireson: I joined just at the beginning of 2011. Sramana: Did you join the company as the CEO? Max Schireson: I joined as the President. I did that for a while and then I was appointed CEO. Sramana: What were the highlights of 2011 to 2014? What
Ray Martinez: The trend that we certainly want to see in higher education is the growth of options that will allow particularly non-traditional students in that category between 25 and 64 who are looking to go back to college and complete a degree to advance their careers further. That is a trend that we’ve probably not
Vishal Melwani: Within a year, we garnered around 180 clients that were some of the world’s top urban wear brands. We ended up selling to a large trading firm within the first year. We sold to a trading firm based in Hong Kong. I was 25 and I had an exit under my belt. I