Sramana: Let’s talk a bit more about how the company is being built. How do you build and scale from here? Carl Theobald: The company had focused on the self-service market, which meant we had a very small direct sales organization. Once we realized the solution was acceptable for larger customers, as well as the
Sramana: What kind of customers are you working with? Carl Theobald: Starting back in the early days, it was all about very small startups. They were software companies that wanted to sell downloadable software such as anti-virus. These were companies that sold games or PC performance tools. The other set of companies that used Avangate
Sramana: How did Avangate get started? What was the genesis of this company? Carl Theobald: It started in 2006 in Europe. The founder and a very bright technical team built the core platform and got a good solution up and running. They grew 75% a year and achieved profitability in 2010. Sramana: How did Avangate
Sramana: This is a very crowded space. How do you differentiate yourselves from others? Carl Theobald: There are a lot of different companies in our space. There are billing companies that solve part of the problem by assisting with subscription management and billing. We provide a complete solution that goes beyond subscription management and billing.
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Carl Theobald is the CEO of Avangate, a e-commerce and partner management solutions provider for software-as-a-service companies. Theobald has held senior executive roles at both large enterprise and venture-backed software companies, including being a VP at Oracle, founder at RubiconSoft, and SVP at Serena Software. At
Sramana: Who were your early adopter customers and what is it that made them converge to you? How did you clinch those deals? Suresh Shankar: Essentially we are building a choice engine in a way that gives you multiple ways to apply it to your needs. In one case we have been working with a
Sramana: When did you start Crayon Data? Suresh Shankar: We formed the company in 2012. In reality we have only been functioning since October. That is when we moved into a real business and started to hire people. We are coming out now and we are talking to people now. We have made good progress
Sramana: When did IBM buy out RedPill and what was the reason behind that acquisition? Suresh Shankar: In late 2008 they came calling because they were looking for an analytical play. It was a rigorous buyout process and that was a question I kept asking them. They were interested in our high end analytical work.