If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Auctionata is a professional online auction house. We’re about to encounter the online version of Christie’s and Sotheby’s. Read on … Sramana: Alex, let’s start at the beginning of your story. Where are you from and where were you raised? What are the roots of your
Sramana: When did you start Influitive? Mark Organ: I left Singapore in early 2010 and I started Influitive after I returned to Toronto. I was able to get a great team together. The goal was to help companies grow faster by leveraging their fans and advocates. We think this is going to be a huge
Sramana Mitra: What were the mechanics of Abuzz? Was it a venture-funded company? Andres Rodriguez: Yes, it was a classic Series A venture funded company. It was funded by SoftBank, Brad Feld, Solstice Capital, and Flatiron Ventures, which is no longer around. I was very lucky to have good guys. They were especially good with
Sramana: Can you tell me a bit about your decision to raise money? Mark Organ: Once we knew the formula for a sales unit and the return it would provide, it was time to step on the gas and we needed money to do that. We knew that if we did not do that, then
Andres Rodriguez is a rare Latin American entrepreneur in hard core tech. In this era of ‘lean startups’, Andres has built a couple of ‘fat ones’ and in this interview, we discuss what he has learnt, and what he advises other entrepreneurs wrestling with the need to raise money to fund ‘fat startup concepts’. Sramana Mitra: Andres, where
Sramana: Was the high tech space your narrow market niche? Mark Organ: We actually worked hard to be very specific in the verticals we addressed. We became very good at micro-verticals within the application software space. The idea is to split the market into thin verticals and then get absolute dominance of those verticals. We
Sramana Mitra: All right and with this model, you have generated about a $100 million in affiliate commissions so far. Of which, about 70% of that has been paid-out to your partners? David Sharpe: Technically, 100%. Last year, we did around $63 million in product sales. All of that, less processing fees, are given out
Sramana: What industries did you initially target and what was your sales cycle like? Mark Organ: Initially, we targeted the insurance, finance, and real estate markets. There are a lot of finance and insurance companies in Toronto and I had a lot of experience working with companies in that space during my time at Bain.