Sramana Mitra: You had $6 million in funding. What happens next? Justin Moore: The 2008 financial meltdown happened a week later. Sramana Mitra: But your money was in the bank before the financial meltdown. Justin Moore: One week before—September 8, I believe. About a week later, you had the financial meltdown. You can imagine trying
Sramana Mitra: Can you walk us through the progression of how many partners you had in year one and so on. How did that number ramp up? Justin Moore: I couldn’t tell you what the actual numbers were, but it grew rapidly and exponentially. We went from signing two partners a month in the first
Sramana Mitra: Where were you positioning this? Was this for small businesses? Was this for mid-sized businesses? Where was the sweet spot? Justin Moore: In the early days, the sweet spot was sub-20-employee companies. We had this concept of trying to empower small businesses to run with the resilience of an enterprise. How do we empower the
Sramana Mitra: We’re now in 2006? Justin Moore: Yes. Sramana Mitra: What did you do next? Justin Moore: We started thinking conceptually about Ancient in 2006 and started investing seriously in 2007 and all of 2008. I took a bit of time quite frankly. I moved from the Peninsula up to San Francisco. I was