Sramana: What timeframe does that bring us to? Rob Hull: That brings us up to 1999. Our CEO had decided he was going to be leaving and the world was moving quickly outside of RMS. The Internet was going strong and the dot com boom was going in full force. I looked around and realized
Sramana Mitra: What were the backgrounds of these other two companies? Were they using a vertical approach? John Wallace: No, they’re horizontal. I think what they have in common is that they have simplified the problem by collecting data off of Excel. They try to get themselves on the website. It makes the day of
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. OJ Whatley did $6 million in revenue in 2006 from his home, with ‘me, myself, and I.’ Further elaborating on the ultra-light startup trend, we bring you his story of approaching $20 million with 20 employees. Sramana Mitra: Let’s start at the beginning of your story.
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. We continue our coverage of fat startups, how they get funded, built, and scaled in this series with Adaptive Insights. Lean startups get a lot of attention now, but I have been covering fat startups as well with stories like Adaptive Insights. Sramana: Rob, let’s start by
Sramana Mitra: Can you talk about that? John Wallace: The problem now has a name. It’s not an ideal name but it has a name. It’s called marketing attribution. It’s looking at the effectiveness of marketing spend. The field closest to that would be approaches of this in Statistics in the past 20 years –
Sramana Mitra: You focused on getting to a business model. Part of the problem at the Valley right now is that people just go and build things without figuring out a business model. As a result, they have huge burn rates and no monetization model. That doesn’t create a sustainable company. That whole model is
Sramana Mitra: How much did you do in terms of revenues in the first couple of years? John Wallace: It probably took us four years to get to a million dollars. Sramana Mitra: How many people were involved? John Wallace: There were about four people. My original hypothesis was that there would be a lot
Andrew Grauer: Then, moving on to the other question on the engagement level, engagement is quite high. I think the difference between other online education sites like Coursera and edX is that their users are looking just to learn for learning sake. Our supplemental resources are really focused on helping students who are already enrolled