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power2motivate
Best of Bootstrapping: Bootstrapped to $80M from Canada
If you haven’t already, please study our free Bootstrapping Course and Investor Introductions page. Adding to our incredible roster of stories of entrepreneurs who have bootstrapped decisively, Power2Motivate CEO Rob Purdy’s story as shared with me in 2017 is an incredible journey of precise execution. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you
Best of Bootstrapping: Bootstrapping Power2Motivate to $80M from Canada
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Adding to our incredible roster of stories of entrepreneurs who have bootstrapped decisively, CEO Rob Purdy’s story as shared with me in 2017 is an incredible journey of precise execution. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where
Best of Bootstrapping: Power2Motivate CEO Bootstraps to $80M from Canada
Adding to our incredible roster of stories of entrepreneurs who have bootstrapped decisively, Rob Purdy’s is an incredible journey of a precise execution. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born, raised, and what kind of background? Rob Purdy: I was born in Ontario, Canada.
Bootstrapping to $80 Million from Canada: Rob Purdy, CEO of Power2Motivate (Part 7)
Sramana Mitra: What was the first year of that product being revenue-generating? Rob Purdy: It would have started generating a little bit of revenue in 2012. At that point in time, we had 20 licensees for Power2Motivate. The only people using the reward component was us and our direct customers. The other 19 licensees were
Bootstrapping to $80 Million from Canada: Rob Purdy, CEO of Power2Motivate (Part 6)
Rob Purdy: It is. It has worked very well. It has been a good ride for all the shareholders who came in at that time because they’ve been receiving dividends for the last three and a half years. The valuation of the business has grown significantly in six years. Sramana Mitra: These are people that
Bootstrapping to $80 Million from Canada: Rob Purdy, CEO of Power2Motivate (Part 5)
Sramana Mitra: Can you bring these inflection points together for us and help us understand how this impacted revenue? Rob Purdy: When we signed the contract, the company business was, in aggregate, about $5 million. We doubled our business in the next couple of years. We grew the business to around $10 million. By 2010,
Bootstrapping to $80 Million from Canada: Rob Purdy, CEO of Power2Motivate (Part 4)
Sramana Mitra: What happened in 2008? Rob Purdy: There was a turning point in 2007. We went to our first ever trade show and unveiled the product in April. At that show, we had more international people asking about the product. There were a lot of companies that wanted to resell the product in their
Bootstrapping to $80 Million from Canada: Rob Purdy, CEO of Power2Motivate (Part 3)
Sramana Mitra: How long did it take you to get a first version of this product out? Rob Purdy: We started development for the Power2Motivate platform in late 2005. It took all of 2006 to complete the first phase. Phase one was the employee engagement component. That was enough to allow us to take that
