Sramana Mitra: This relationship came along early in your evolution and that basically financed your bootstrapping. Brock Berry: It did. That and a few other similarly large relationships. Because we had some wind underneath our wings, we didn’t have another sweat equity deal with anyone, but we did have very good partners that helped us with
Sramana Mitra: Could you throw some light on what kind of revenue sharing you were doing? It sounds like that is the core of your business model. Brock Berry: For the services part of what we do, the media company takes 70 cents out of every dollar they sell. That’s the revenue share so to
Sramana Mitra: How much of what you are saying you do is done manually versus in software? Brock Berry: The recommendation part of the software is completely automated via the technology software platform. The trafficking of all the campaigns that are sold is also automated right from the proposal to the ad-serving tools including the input
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Love and startups go hand in hand for Brock and Shelby who are helping media companies generate seven-figure revenue streams. Sramana Mitra: Whoever wants to start, let’s start at the very beginning of your personal journey. Where are you from? Where were you born, raised, and
Sramana Mitra: What was the first year of that product being revenue-generating? Rob Purdy: It would have started generating a little bit of revenue in 2012. At that point in time, we had 20 licensees for Power2Motivate. The only people using the reward component was us and our direct customers. The other 19 licensees were
Rob Purdy: It is. It has worked very well. It has been a good ride for all the shareholders who came in at that time because they’ve been receiving dividends for the last three and a half years. The valuation of the business has grown significantly in six years. Sramana Mitra: These are people that
Sramana Mitra: Can you bring these inflection points together for us and help us understand how this impacted revenue? Rob Purdy: When we signed the contract, the company business was, in aggregate, about $5 million. We doubled our business in the next couple of years. We grew the business to around $10 million. By 2010,
Sramana Mitra: What happened in 2008? Rob Purdy: There was a turning point in 2007. We went to our first ever trade show and unveiled the product in April. At that show, we had more international people asking about the product. There were a lot of companies that wanted to resell the product in their