Sramana: What was your team building process like? Michael Dash: We started very small with just David and I and then slowly started to add additional employees. We started with a database and network engineer. Then we hired a couple of PHP engineers and Magento developers. We also hired some designers and customer service members.
Sramana Mitra: Explain to me the value proposition of your concept. Andrew Grauer: The best way to understand it is to think about tutoring. The first version of this was a content version of tutoring – getting supplemental help for people to learn and succeed effectively in their specific course at their school. We really
Sramana: When did you start Car Part Kings? Michael Dash: We started it in late 2011. We incorporated and had the idea. We approached some different people about products that we were interested in. We launched in September of 2011. Sramana: What were you going to sell? Michael Dash: We talked to a number of
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. We love student entrepreneurs who have managed to not only build successful businesses but have done so without dropping out of school. We also love entrepreneurs who have the discipline to get to a strong and sustainable monetization model early on in their evolution. Andrew Grauer
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. We’re seeing the trend everywhere – companies building significant revenue and market reach with very few employees. Car Part Kings is approaching $10 million in revenue with 14 employees. Of course, WhatsApp’s $19 billion valuation with 32 employees is an extreme example of this trend. Sramana:
Sramana: What are some of the other trends occurring in this space now? Gary Matkin: In general, there is a very large gap in the technology that is presently being offered. That gap is conventionally called content management. Publishers are doing more and more to create content that is quite well managed. Learning management systems
Sramana: Even in the future, this is something that will have to be done with technology. Teachers need to be empowered to use that technology. I just don’t see how teachers can be required to architect the design. Gary Matkin: It is going to have to be done more and more by teachers. They are
Sramana: Let’s explore your continuing education business in greater detail. Gary Matkin: Continuing education is dominated by people who want convenient, high quality material that is very relevant. Cost is not the primary concern. If you can provide courses that meet those criteria, then you are in the market, and that is what we service.