Sramana Mitra: It was not e-commerce. You were getting golf clubs made in China and wholesaling them to retailers. Jim Alvarez: Yes, I did have an e-commerce site as well but majority of our business was from wholesaling it to big golf retailers. Sramana Mitra: How long did that go on? Jim Alvarez: I did
Sramana Mitra: That’s part of an entrepreneur’s life – lots of no’s. Zvi Guterman: Yes. That was my first startup out of Israel. We did a lot of mistakes. One of them was staying in Israel. At least, that was my belief. We were far away from the market. That was one challenge. The second
Jim has bootstrapped a $10M company by providing a software solution to the charity auction management problem. Interesting journey. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind of background? Jim Alvarez: I was born and raised in the south
Zvi has built a $25M a year in profitable revenue with $20M in venture capital from Sequoia and other investors. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind of background? Zvi Guterman: I was born in a small village
Sramana Mitra: What was your revenue in 2016 that you raised the $20 million against? Chaitanya Chandrasekhar: Over $10 million in annual recurring. Sramana Mitra: You mentioned something about Argentina. Why Argentina? How did Argentina come into the picture? Chaitanya Chandrasekhar: There are two values that I think helped Quantic Mind. One is persistence. Failure
Sramana Mitra: One question, when you raised the $12 million, what were the metrics? How many customers did you have? Chaitanya Chandrasekhar: Starting the year 2014, we had zero revenue. Because of Home Advisor, we exited the year doing $2 million in contracted recurring revenue. Sramana Mitra: $2 million in recurring revenue from how many
Sramana Mitra: How did you get the beta customers? Chaitanya Chandrasekhar: We had a lot of experience at NexTag and we used to work with a lot of customers. Me and my co-founders knocked on a lot of doors. One of them gave us a chance. When we built an MVP, we built the MVP based
Sramana Mitra: When you started the company, that was 2011? Chaitanya Chandrasekhar: 2012. Sramana Mitra: How did you get it off the ground? What did you start with? Chaitanya Chandrasekhar: Very early on, we made sure we had the right people. You can’t build everything yourself. I was getting my co-founders in place. The three