Sramana Mitra: What emerged as the positioning of Brand Networks? I understand you’re helping with word-of-mouth brand networks. What was the service that they were buying? Jamie Tedford: In the early days, they were buying more of traditional marketing services agency roles. Eventually as I brought on my partner and CTO Mike Garsin, we determined
Sramana Mitra: What year did that chapter end for you? Jamie Tedford: Around 2002. I got to work with an ad agency called Arnold Worldwide. I worked with a lot of really big brands. The brand that really got me excited was Volkswagen. I learned a lot of about traditional advertising at that time. I
Sramana Mitra: The IPO window will be fine even if the market corrects itself. Most of the problem with the market right now is with the late-stage venture capital as it pertains to private businesses. I don’t think there’s a lot of problem with the public market. Art Papas: I’d like to be a little
If you haven’t already, please study our free Bootstrapping course and the Investor Introductions page. Jamie bootstrapped Brand Networks to a highly profitable, large business leveraging the disruption in brand marketing caused by social media. He then sold minority stake in the company to a private equity firm. Excellent execution for bombbomb alternatives! Sramana Mitra:
Sramana Mitra: I get the whole vertical workflow woven into your product. Can you provide some examples of what somebody who’s buying a Salesforce.com CRM system would not be able to do versus your system? Let’s say recruitment vertical. What’s an example of workflow that’s specifically designed in your product? Art Papas: A great example
Sramana Mitra: Before we go on to 2008, give me a bit more detail about the strategy of building the business. You started with this recruiter CRM system as you described it. How much business did you do in the recruiter vertical? It sounds like that’s you’re primary vertical in the beginning, right? Art Papas: It
Sramana Mitra: What is the current thinking now that you’re approaching $30 million? Many companies at your stage start thinking about selling a portion of the company… Kristin Quinlan: There has been a lot of interest in our company from outside. We’ve been through two exercises on what that would look like. That was about
Sramana Mitra: Was it a large recruiting firm? Art Papas: It was mid-sized. There was about 45 people. It wasn’t a huge business. For them, all of a sudden, they’re able to service national accounts. It was a big deal during the recession. He was really looking for ways to get his business going. He was now