SM: How did you fund the initial startup? Where did you get the funding? RY: We had a rolling round, primarily from friends and family, with a target goal of $250,000. The first $10,000 came from my dad.
SM: How do you rank in the Spanish speaking countries? RY: We are the number one social networking company. SM: Do you have any idea why? RY: Because we targeted those demographics. We focused on Spanish speaking users.
SM: After working in some of the leadership development positions you felt confident you could leverage your experience with a startup of your own? RY: Yes. Unfortunately, I was overconfident. I jumped back into starting companies but I still had some learning to do.
Ramu Yalamanchi runs hi5, one of the leading social networking companies in the world. The company is recognized as one of the fastest growing social networking companies. Here I discuss the strategy behind hi5 with Ramu and gain some of his insights for the future.