Sramana Mitra: Website translation. Wow! That’s completely different. Will Fleming: It sounds completely different. Our target market for the brochures were the largest retailers in North America. We met with nearly every one of the top 20 or 25 retailers. We had great visibility into this common problem. It was interesting to us that all
Sramana Mitra: What happens after that? Will Fleming: In 1999, we hung up a shingle to be consultants. That was our way to be exposed to people and projects while we were trying to sort through what we were going to do next. We wanted to start another business. We didn’t have that business in
Sramana Mitra: Before we get into the new venture story, you mentioned that you ran two startups while you were in the US. Were they companies that you founded or recruited to run? How did those come about? It sounds like that’s where you got some of your entrepreneurial experience as well. Ofer Yourvexel: The
Sramana Mitra: The IPO window will be fine even if the market corrects itself. Most of the problem with the market right now is with the late-stage venture capital as it pertains to private businesses. I don’t think there’s a lot of problem with the public market. Art Papas: I’d like to be a little
Sramana Mitra: In a nutshell, you basically pivoted to a vertical CRM strategy and then started building out more and more verticals and developing work flow in your product for those verticals. You went after mid-market companies in each of those verticals. Art Papas: We did. We have a lot of tiny customers and then
Sramana Mitra: I get the whole vertical workflow woven into your product. Can you provide some examples of what somebody who’s buying a Salesforce.com CRM system would not be able to do versus your system? Let’s say recruitment vertical. What’s an example of workflow that’s specifically designed in your product? Art Papas: A great example
Sramana Mitra: Before we go on to 2008, give me a bit more detail about the strategy of building the business. You started with this recruiter CRM system as you described it. How much business did you do in the recruiter vertical? It sounds like that’s you’re primary vertical in the beginning, right? Art Papas: It
Sramana Mitra: Was it a large recruiting firm? Art Papas: It was mid-sized. There was about 45 people. It wasn’t a huge business. For them, all of a sudden, they’re able to service national accounts. It was a big deal during the recession. He was really looking for ways to get his business going. He was now