Sramana Mitra: Fascinating. Other than the 50% of revenue coming from financial services, are there any other dominant sectors? Obviously, media continues to be one? Stuart Frankel: We continue to do a little bit in media. Our business with the US intelligence community is a fair chunk of our business today. We also have customers in
Sramana Mitra: Do they pay a subscription? Stuart Frankel: Yes. I’ll tell you how much the business has evolved. Given our customers today and given what we do, it’s a much more relevant model for us rather than selling volumes of content. When we were creating news content, that’s how news content is bought. That’s
Sramana Mitra: How does it work? Can you explain the science behind it? Stuart Frankel: We would have to fast forward a little bit as well, because at that time this was a baseball story writer. That’s the prototype that was built in the lab. It worked really well but all it did was write
Sramana Mitra: Then what? Stuart Frankel: This was in the Fall of 2008. Sramana Mitra: The financial crisis was coming up. Stuart Frankel: Yes. I book-ended my time at DoubleClick. Just prior to closing the transaction with Google, I liked the idea of joining another PE-backed company. I wanted to join a company that was
Sramana Mitra: Were you acting as an agency? Stuart Frankel: We were. By 2005 or 2006, we were managing close to a billion dollars in media. Sramana Mitra: Is this a regular agency business model with 10% fees? Stuart Frankel: It was also based on performance. We took a piece of every transaction. Ultimately, that arbitrage
Sramana Mitra: Where is the position? This is not in Cincinnati, right? Stuart Frankel: It was in Chicago. I had met a woman who I’m married to now. She was originally from New York. She was living in Cincinnati as well. We were also figuring out, from a life standpoint, where we wanted to be.
Some of what you’ll read in this interview will seem like science fiction. But please read on! Sramana Mitra: Let’s start at the very beginning of your personal journey. Where are you from? Where were you born and raised, and in what kind of circumstances? Stuart Frankel: I was born in Cincinnati, Ohio. I was