Sramana Mitra: Help me rationalize what’s happening right now in the market regarding late-stage valuation bubbles. We have two kinds of bubbles in the startup venture world. One is in the seed capital. In 2013, 70,000 companies were angel-financed. That’s too much actually. It’s great that they got angel-funded, but then if you look at
Sramana Mitra: This time around, are there any surprises in the product market fit process? You repeated the same process, I imagine. Gaurav Dhillon: The same thing but with a twist. With Informatica, the timing was spot on. The change was happening in a big way. Year 2000 was coming. From the time we raised venture
Sramana Mitra: The story is very different for a Dave Duffield starting Workday or a Gaurav Dhillon starting SnapLogic, because most of the people who are starting companies without that kind of track record do not have the options that you have. They have to figure out some way to navigate that early cash issue. Gaurav
Sramana Mitra: 156 customer calls that you made gave you real conversations about real customer problems. Even though you didn’t sell what you went out to sell, this was a great opportunity to immerse yourself in customers and learn what they were really looking for. Gaurav Dhillon: This is AB testing to the power of
Gaurav Dhillon: Let me take you through that journey. I still remember how excited we were. Once we got the grant, we built the research into the object databases. The truth is they never got anywhere. Then we thought, “Why don’t we build technology to help people downsize?” This is 1995 and you’re running a COBOL program on a
Sramana Mitra: Prior to Informatica, your work experience was with Unisys? Gaurav Dhillon: That’s correct. Sramana Mitra: Did you come up with the concept for Informatica while you were at Unisys? Gaurav Dhillon: We wanted to break up into our own along this whole point server downsizing process. Believe it or not, the co-founders applied
Gaurav Dhillon founded Informatica, took it public, and ran it for 12 years before handing the reins over to Sohaib Abbasi, its current CEO. Five years ago, he founded SnapLogic, a company that has raised almost $60 million in venture capital and has tripled in revenue last year. Gaurav knows a thing or two about