Sramana: One of the things I really like about your platform is that because you are sitting in the transaction, you have a very rich value proposition. You are also able to engage with people who have their credit card out. The Internet is full of free riders. You have filtering those out. Targeting on
Sramana: I like your approach because it lets the partners know that you are not taking their data and helping somebody else. Bruce Buchanan: That is very important and that is why our partners are comfortable with us. One of the things that we had to go through with the eBays of the world was
Sramana: You definitely do not need to raise money. However, if you apply the same logic as you did in Australia, then there could be a case for raising money in the US, right? Bruce Buchanan: We would if there was an opportunity to extend the network. We would be interested in a partner that
Sramana: What kind of revenue share do you get? Do you charge on a CPM basis? Bruce Buchanan: On the advertising side, it is a marketplace. You bid for access to a particular customer segment. The systems offer dynamic optimization. The optimization engineering is some of the best. That is really the secret sauce. You
Sramana: Can you give me a use case for your product? Bruce Buchanan: Let’s assume you are on eBay and you have done a transaction. We will present you with what we call an engagement asset which is past the transaction. Typically, it is something that the business partner is trying to promote. It could
Sramana: What did you do after Jetstar? Bruce Buchanan: I stepped down from my position at Jetstar in 2012. I ran across two individuals who had founded the company that is now known as ROKT. I fell in love with the business. At the time, they did not really know what the business was, but
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. We don’t hear of cutting edge technology ventures out of Australia succeeding in the marketplace. ROKT is a rare gem, and a fascinating story! Sramana: Bruce, where are you from? What kind of background do you come from? Bruce Buchanan: I was born in Sydney. My
Sramana: It sounds like your thesis is that you want to get adoption and your assumption is that your free customers are eventually going to monetize. Is that correct? Max Schireson: I suspect that most of them will not. That is OK because a lot of them will. The big banks and government agencies pay.