Sramana: What role does the publisher play? Maxine Manafy: The publisher who would host your app and promote it to the end user would also be in our network. They have the ability to approve or disapprove the ad in their channel. They are also interested in how relevant the app is to their channel.
Sramana: How did you view the competition when you were starting Bunndle? Maxine Manafy: When I started Bunndle there were a couple of competitors in the market. They were not so much concerned about performance, activation and retention. They were really just trying to get as much money as they could from smaller guys. As
If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. Maxine Manafy is the founder and CEO of Bunndle, an app distribution network. Prior to founding Bunndle she held various sales and executive positions with companies such as Viximo, Mochi Media, Yahoo, KLA-Tencor and Intel. She is a graduate of San Jose State University and Stanford.
Sramana: Are your investors all Eugene based? Jake Weatherly: Most of them are; however, we do have an investor from the Los Angeles area, and one in far eastern Oregon. Sramana: What is the entrepreneurship community like in Eugene? Jake Weatherly: It is an area that is near and dear to my heart. This is
Sramana: I have been noticing a trend lately. Companies are building very sizable revenue with small teams. The ideal example of this is FineArtAmerica which, when I spoke with them, they were doing $5 million dollars a year with three people. He had all sorts of outsourcing. You have 16 employees and are approaching $5
Sramana: Your TAM is essentially tied to the number of transactions you can process. You really needed to get a handle on the volume of transactions going through your system. What did you define your TAM after this reality emerged? Jake Weatherly: We look at all of our segments somewhat uniquely. We also look at
Sramana: What was the reason you were making pitches? Were you trying to raise capital? Jake Weatherly: We were pitching for practice in the beginning, but it was warming up to raise capital. In our first round we raised just over 1 million dollars and just over 1.5 million dollars in the second round. Both
Sramana: When you set out to deliver an eligibility verification service and technology, did you have specific questions that you wanted to frame the capability around? Jake Weatherly: One of the things that we uncovered in the early stages in terms of personally identifiable information, where security is a huge concern, is the need to