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Student Entrepreneur to $10M Revenue Run Rate: Extrabux CEO Jeff Nobbs (Part 3)
Sramana: You started hiring after being awarded 25,000 dollars for winning the business plan competition. However, that is not a lot of money. Whom were you hiring? Jeff Nobbs: More than anything winning the business plan competition was a nod of approval from the University which helped us raise more money. Over the course of
Student Entrepreneur to $10M Revenue Run Rate: Extrabux CEO Jeff Nobbs (Part 2)
Sramana: Why would stores offer cash back to customers? Jeff Nobbs: We think of it as a win, win, win. For stores, we are an outsourced marketing arm. We not only drive new customers, but we also make their existing customers more loyal by offering cash back on every purchase. If you are an Extrabux.com
Student Entrepreneur to $10M Revenue Run Rate: Extrabux CEO Jeff Nobbs (Part 1)
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Jeff Nobbs is the founder and CEO of Extrabux, a highly regarded shopping rewards site. He co-founded Extrabux as a student at the University of Southern California in 2006. Two years later, Extrabux was submitted to the USC business plan competition, where it won first place.
Cool and Creative Serial Entrepreneurship: 99Designs and DeveloperAuction Co-Founder Matt Mickiewicz (Part 7)
Sramana: What kind of numbers do you have? How many engineers apply to be on your platform? Matt Mickiewicz: We typically have 2,000 to 3,000 engineers apply every month. Of those, we accept the best 150 or so engineers. We take care of the upfront vetting. We look at their intent to switch jobs as
Cool and Creative Serial Entrepreneurship: 99Designs and DeveloperAuction Co-Founder Matt Mickiewicz (Part 6)
Sramana: Tell me a bit more about the value proposition of DeveloperAuction. Matt Mickiewicz: We are a two-sided marketplace for hiring full-time engineering talent in Silicon Valley, New York and Boston. The basic premise is that we curate a pool of 150 engineers every single month who went to the top computer science schools and
Cool and Creative Serial Entrepreneurship: 99Designs and DeveloperAuction Co-Founder Matt Mickiewicz (Part 5)
Sramana: In three years you gained huge traction. How dramatically has your adoption curve changed? Matt Mickiewicz: We have been pushing international expansion heavily. We are seeing which markets work for us. The growth curve has continued very strongly. Our CEO has done a very good job. Sramana: Have you changed CEOs or have you
Cool and Creative Serial Entrepreneurship: 99Designs and DeveloperAuction Co-Founder Matt Mickiewicz (Part 4)
Sramana: Why did you decide to raise money? Matt Mickiewicz: To expand our marketing and increase customer acquisition. We also wanted to pursue international expansion. We used the money to hire a chief marketing officer, a chief financial officer and expand internationally, which included language expansion. Recruiting in San Francisco is much easier when you
Cool and Creative Serial Entrepreneurship: 99Designs and DeveloperAuction Co-Founder Matt Mickiewicz (Part 3)
Sramana: Who were the early adopters of 99Designs? Matt Mickiewicz: The earliest adopters were Silicon Valley and New York startups. In the first couple of years in the business we did not do any marketing. We relied on press, media attention and word of mouth. Sramana: How did you get press? That can be very