Sramana: What was the founding concept for Easy Solutions? Ricardo Villadiego: I created Easy Solutions with my wife and my best friend from my university. When we created the company, our vision was to be the global leader in electronic fraud prevention. Sramana: Did you do this from Bogota, Columbia? Ricardo Villadiego: Yes, that is where
We seldom see global technology companies being built out of Latin America, so what Ricardo and his team have been able to accomplish is very exciting. And to think that they are building a fraud prevention company out of Bogota, Colombia is truly impressive. Sramana: Ricardo, let’s start at the very beginning of your story.
Sramana: How do you validate and curate florists in a scalable manner? Farbod Shoraka: We started to use some of our funds to hire a sales team that will help us decide on who to partner with. It is not an automated process. In the end, it creates a lot of value. For BloomNation’s marketplace,
Sramana: What metrics did you use to solicit funding? Where were you in terms of revenue? Farbod Shoraka: We used two key metrics. This was very early stage investment, so it was really about the idea and vision. We needed to demonstrate that there was a product market fit. We were able to show that
Sramana: How long did it take you to launch the first version of the site? Farbod Shoraka: Once we won the money, we hired a developer and spent a few months building the first version of BloomNation.com. It was an alpha platform to give florists an idea of where we were headed. It was enough
Sramana: Does this mean that you are hosting their websites and helping them move their presence to your hosted sites? Farbod Shoraka: We want to partner with florists. We don’t just want to hand them a technology or a tool. We want to partner with them and help them grow their business. We give them
Sramana: What solution did you have in mind to address these issues? Farbod Shoraka: Our first beta version of BloomNation was a place where florists could create profiles, almost like FaceBook. This was a place where they could put up info about their store to include location and delivery zones. They could also list their
Sramana: Where were you when you made the decision to strike out on your own and start a company? Farbod Shoraka: I started out in Los Angeles. Once I realized there was a problem, I wanted to validate it, so I started walking around and talking to various florists. I just started talking to them