SM: What are your thoughts about exit? CL: I don’t think Elvis will leave the building for a long time yet. We’ve certainly had offers that would have made me a very wealthy man, or at least a guy with a very loud car stereo.
SM: What is your growth strategy? CL: Growing a network is pretty straightforward. You build out the sales team and you add more publishers. We plan to continue on these core aspects while establishing more specialization, new products and barriers to entry. We have plenty of room for growth both in publisher audience base (there
SM: Describe some of your team-building experiences. CL: From the start-ups I was associated with before TAN, I know that team building is perhaps the most difficult aspect of entrepreneurism (aside from spelling the word, of course). You start, and it’s just you and you are alone and you are screaming at the world, saying
SM: How did you finance the different phases of the company? CL: In late 2005 and early 2006 we signed on two publishers that, together, quadrupled the size of our audience. We grew the company to the maximum extent possible with all the profits we’d accumulated. A few months later, one of those publishers left
SM: How big is the market? How do you calculate TAM? What is your business model? CL: We’ve reviewed a great deal of research on how large the market is for online travel advertising and very specifically banner advertising on travel websites. Forrester says that online travel advertising is an $8-billion-a-year industry in 2007, growing
In the world of entrepreneurship, a universally accepted doctrine is doing more with less. In this case study series, I bring you an entrepreneur who has done exactly that. Cree Lawson, founder and CEO of Travel Ad Network (TAN), is our guest this time, and will share his story with all its blood, sweat and tears.
SM: How does the entrepreneur network in Latin America work? Are there many entrepreneurs in Latin America now? MG: Yes, there is a foundation called Endeavor Foundation. They select entrepreneurs in their region and then supports them. This foundation was founded by Linda Rosenburg and Peter Kelner, two Harvard graduates. They got the big private
SM: Does PayPal operate in South America? MG: You can withdraw money but you cannot fund a PayPal account. They do not have a Spanish speaking site either. SM: What is your dynamic with eBay today? Competitive or collaborative?