Hank tells the story of a solo entrepreneur who bootstrapped his product startup with services over a longer, slower period, while maintaining a high quality lifestyle. Success is personal. Autonomy and quality of life matter more to certain entrepreneurs than the flawed “Go Big and Go Home” mantra that VCs preach. Sramana Mitra: Let’s start
Sramana Mitra: There are some pedagogy that we have come to understand. As I told you, I’ve done thousands of case studies. I have a lot of insight into how people have played their hands. Because you have domain knowledge, a very common way is to verticalize and go after specific verticals. Vamsi Kora: That’s
Vamsi Kora: We decided to focus on our core strength, which is leveraging platforms and products that exist in the marketplace and leverage our services that we built so far, keep maturing them, and provide these as accelerators. In that sense, this is more akin to the business approach of Palantir. You bring two critical
Sramana Mitra: How long did you stay with Nationwide? Vamsi Kora: I stayed until 2007. I became a full-time employee in an initial management position. Then in 2007, I moved across town to join JP Morgan. JP Morgan bought Bank One. I kept on growing in my career rapidly. I felt that my two interests
Vamsi has bootstrapped Gathi to over $26M in revenue in four years and exited at a fabulous multiple. Much to learn from his 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?
Sramana Mitra: What is the total amount from friends and family investors to get to $10 million? David Moricca: Maybe $9 million. $6.5 million was not as Socialive. A lot of companies do pivot. I hear stories about companies who fail for the first time. They just restart. The thing about that is you’re leaving
Jeff Solomon: I talked to some other mentors and people I’ve met over the years and came to the conclusion that it was better for me to leave the day-to-day operations. I probably undersold my value to our Board and to our investors. The investors didn’t appreciate the scrappy founder guy like they do now.
Sramana Mitra: What year did you launch Socialive? David Moricca: July 2016 was when we first brought the product out. Then we rebranded it to Socialive in October 2016. The last five years, we’ve been Socialive. Sramana Mitra: How did you price the product?