Sramana Mitra: Why don’t we step through the journey. Neal Taparia: When we started working on it full-time, I had mentioned that we benefited from a lot of organic growth. What was really interesting is as we focused on it full-time, we were able to understand all these ways to increase ad revenue.
Sramana Mitra: A couple of metrics before we go on to the post-Lehman story. What kind of revenues were you making in college? What kind of revenues were you making from the company while you were working at Lehman? Neal Taparia: In college, we were probably making around $30,000 a year. It was nothing crazy.
Nishant Shah: In 2017, we were very aggressive in acquiring new customers. That’s when our marketing strategy changed a lot. From just one channel, now we have multiple channels. We came in with affiliates, email marketing, and display marketing. We had a much larger budget allocated to marketing versus almost nothing. That helped a lot.
Sramana Mitra: What was the insight in terms of customer acquisition for instance? What clicked? Nishant Shah: When you’re growing the business and you’re bootstrapping it, it always depends on how much money you have. You want to spend more on marketing because you want to grow that way, but you have to have your
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. We’re big fans of bootstrapping to exit case studies. This is a wonderful one. 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?
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. In these unusual times, many who once dreamed of funding are forced to bootstrap. Well, bootstrapping is good during good times, and necessary during bad times. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born, raised,
Sramana Mitra: Let’s talk a little bit about how you built the pieces of the business. Let’s talk about the retail e-commerce piece. It sounds like there is inventory involved. Did you finance the inventory through some bank, or did you just do it organically? Sina Khanifar: That’s where seed capital came in. We didn’t
Sramana Mitra: What was Waveform going to do in 2006? Sina Khanifar: We graduated college and were trying to figure out which up and coming industry we could get started in. My dad had just come back from South Korea. He mentioned that in South Korea, all the buildings had device repeaters that would help