Sramana: As an entrepreneur, how do you balance the equity stake of founders and early employees with the inevitable exit? Amy Pressman: Silicon Valley is very much about technology and innovation. There is also a lot of innovation in how companies are started, run, and dealt with. If you look at more traditional liquidity events
Sramana: You mentioned earlier that you were not a very technical person. Did you lead the technology development efforts? Amy Pressman: No, we had a CTO for the first five years. He was a very strong, early startup type of CTO.
Sramana: How do you enable companies to have dialogues with their customers? What is your method, and what technologies enables that method? Amy Pressman: If you are a customer of one of our clients, then soon after purchasing that product or staying at that hotel you would receive a survey from us.
Sramana: What are the advantages to being in the Valley, from your perspective? Amy Pressman: It is an incredibly energizing location. When you are feeling oppressed by the day-to-day challenges of a startup, it is great to be around other people who have succeeded and are willing to encourage you. There is an energy that
Sramana: Did you decide to go into the media industry, or did you decide to go somewhere else? Amy Pressman: Unfortunately, coming out of business school in Europe I found that the only jobs that would pay the student loans were in investment banking and consulting. I did that for three years in Norway.
Amy Pressman is the president and co-founder of Medallia, a company she envisioned while she worked as a consultant for the Boston Consulting Group. She has also worked as an independent consultant for technology-based companies in Silicon Valley, an investment banker at Goldman Sachs, and a legislative aide on Capitol Hill. She has an MBA
Sramana: Have you raised any additional funds? Clate Mask: No. One of the investors who did the Series B wanted to invest more, so we allowed them to add a few more million dollars last year. We did the Series B in November, and it was a terrible time in the market.
Sramana: We have a lot of entrepreneurs who are building companies outside of Silicon Valley. Summarizing your experience as an entrepreneur outside the Valley, you bootstrapped your company to the point of solid revenues and did late-stage financing with Silicon Valley investors. Clate Mask: Exactly. We were able to get enough traction such that when