Sramana Mitra: What was the competitive landscape like? Jedidiah Yueh: Two years after we started the company and we started marketing the product and the space, we had a competitor enter the market called Data Domain. In the end, both companies were sold to EMC. They were sold for over $2 billion. There’s another lesson
Sramana Mitra: How long did it take you to launch your product from that round? Jedidiah Yueh: It took us a long time. This was my first time as a founding CEO. I’d never run a development program. I still don’t know how to code. We were four years late in shipping product. We shipped
Sramana Mitra: Carry on. Lead us through the next phase of your journey. Jedidiah Yueh: In some ways, since I’m an accidental entrepreneur or even a reluctant technologist, that was a bit of an advantage. I had lots of ideas and I had friends that had lots of ideas, but I wasn’t interested in starting
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Jed has built two fat startups. This discussion delves into the nuances. 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? Jedidiah Yueh: The funny thing is, I never
Sramana Mitra: What about team size? What kind of team size are you doing all this with and how did that grow over time? Brian Lim: We’re at about 60 full-time folks. Sramana Mitra: You’re in Los Angeles right? Brian Lim: Yes, at Anaheim. Sramana Mitra: All of these people are in Anaheim or are
Sramana Mitra: Are there any strategic nuances that you could share of how you were able to do that? Brian Lim: Social media was big here. We were able to broadcast our message to the right folks. We had a good ground game where we were meeting fellow glovers and ravers at these music events.
Sramana Mitra: Is it a glove that you’re selling? I’m trying to understand the form factor of the product that you’re selling here. Brian Lim: They’re white stretch gloves with LED lights at their fingertips. The technology is much more advanced than what we had before. Today you can program these lights using a Bluetooth
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Niche e-commerce still produces compelling success stories. Read on to see how Brian built iHeartRaves. 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? Brian Lim: I was born