Sramana Mitra: In some cases, the newsroom analogy is probably not the right analogy. Think about a toothbrush brand. That’s now news-oriented. If you think about how to do content marketing for those kinds of brands, it’s a very difficult problem. Ashu Garg: In the newsroom analogy, I’m using the word very loosely. It’s the
Sramana Mitra: Media buying has been the most obvious areas which needed to be automated because of the trends that you described. Machine learning applies very well into that space. Can you talk about other areas in marketing technology, where, powered by machine learning, there is venture-scale opportunity? Ashu Garg: I’m going to talk about
Sramana Mitra: You spoke with me a year back about marketing technologies. It was a core area of interest at least a year ago. Help us understand what drives that interest. Ashu Garg: That is absolutely a core area of interest for us. I would say it is one of the trends in the broad
Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Ashu Garg, Foundation Capital was recorded in March 2016. Ashu Garg, General Partner at Foundation Capital, outlines the top trends driving startups and venture capital from his firm’s perspective. Sramana Mitra: What is your
Sramana Mitra: What was your revenue in 2016 that you raised the $20 million against? Chaitanya Chandrasekhar: Over $10 million in annual recurring. Sramana Mitra: You mentioned something about Argentina. Why Argentina? How did Argentina come into the picture? Chaitanya Chandrasekhar: There are two values that I think helped Quantic Mind. One is persistence. Failure
Sramana Mitra: One question, when you raised the $12 million, what were the metrics? How many customers did you have? Chaitanya Chandrasekhar: Starting the year 2014, we had zero revenue. Because of Home Advisor, we exited the year doing $2 million in contracted recurring revenue. Sramana Mitra: $2 million in recurring revenue from how many
Sramana Mitra: How did you get the beta customers? Chaitanya Chandrasekhar: We had a lot of experience at NexTag and we used to work with a lot of customers. Me and my co-founders knocked on a lot of doors. One of them gave us a chance. When we built an MVP, we built the MVP based
Sramana Mitra: When you started the company, that was 2011? Chaitanya Chandrasekhar: 2012. Sramana Mitra: How did you get it off the ground? What did you start with? Chaitanya Chandrasekhar: Very early on, we made sure we had the right people. You can’t build everything yourself. I was getting my co-founders in place. The three