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ysoft
Bootstrapping to $30 Million from Czech Republic: Vaclav Muchna, CEO of YSoft (Part 7)
Sramana Mitra: Have you started seeing revenues escalate from that yet? Vaclav Muchna: In the United States, this year we are going to be close to $3 million. Our business has a very long sales cycle. We expect that the bigger revenue growth is going to happen next year. Sramana Mitra: You said you did
Bootstrapping to $30 Million from Czech Republic: Vaclav Muchna, CEO of YSoft (Part 6)
Sramana Mitra: What do you do with the venture capital fund? Do you invest in companies in the Czech Republic or in eastern Europe? What is the scope? Vaclav Muchna: I suggest we take it chronologically. Sramana Mitra: Sure. Vaclav Muchna: Today, we are doing a lot of things, but the biggest pie of revenue
Bootstrapping to $30 Million from Czech Republic: Vaclav Muchna, CEO of YSoft (Part 5)
Sramana Mitra: It must have been very helpful for you to recruit a bunch of channel partners who would then go and sell that same solution to other major players. Vaclav Muchna: Exactly. Once they started with us, there was another deal with the headquarters of a central European bank. That helped us to build the relationship
Bootstrapping to $30 Million from Czech Republic: Vaclav Muchna, CEO of YSoft (Part 4)
Sramana Mitra: What year are we talking about? Vaclav Muchna: 2003. In 2002, we launched that web server. We had to produce 20 terminals and we had no money. I tried to go to the bank but, of course, they didn’t let us borrow anything. There were only few VC funds. The VC market almost
Bootstrapping to $30 Million from Czech Republic: Vaclav Muchna, CEO of YSoft (Part 3)
Vaclav Muchna: The three of us started again. I kept 20% and they both got 30%. We started again without really knowing what to do next. One customer came and said that they would like us to develop a software that would secure printing. They wanted to remove 200 desktop inkjet printers and install 20
Bootstrapping to $30 Million from Czech Republic: Vaclav Muchna, CEO of YSoft (Part 2)
Sramana Mitra: What year are we in now? Vaclav Muchna: That was 2000. It was a month after my 20th birthday. We started the company together. We really didn’t have any vision, we just wanted to be rich and famous. We wanted to succeed and we had no idea how. We had no education. We
Bootstrapping to $30 Million from Czech Republic: Vaclav Muchna, CEO of YSoft (Part 1)
This is a wonderful story of a Czech entrepreneur, who at 22, at a time when his country was far from ready to support entrepreneurs, struggled through immense odds and has built a global business. Read on for inspiration and excellent lessons from the trenches. Sramana Mitra: Let’s start at the very beginning of your
