A Case Study in Equity Crowdfunding: Cary Breese, CEO of NowRx (Part 2)

Sramana Mitra: In 2010, you gained some significant domain knowledge in the insurance domain. What happens next?

Cary Breese: I got interested in the broader startup industry. Although I had some deep experience in insurance, I was always an engineer by background. I was interested in technologies of various industries.

A Case Study in Equity Crowdfunding: Cary Breese, CEO of NowRx ( Part 1)

Equity Crowdfunding has matured significantly. In this case study, we get to learn some interesting nuances.

Sramana Mitra: Let’s start at the beginning of your journey. Where are you from? Where were you born and raised? What kind of background did you have?

Bootstrapping Using Services: George Anderson, CEO of Ninth Wave (Part 6)

Sramana Mitra: Who did you raise money from?

George Anderson: It was from a company called Soros private equity. 

Sramana Mitra: How much revenue was the software business generating when you brought this firm in?

George Anderson: I don’t want to get it wrong, so I’d rather not say that one. 

Bootstrapping Using Services: George Anderson, CEO of Ninth Wave (Part 5)

Sramana Mitra: When did that episode happen? Was it when you did this repackaging?

George Anderson: Yes, when I did the repackaging. It was in 2001. 

Sramana Mitra: From 2001 to 2008, you ran as a bootstrapped company. How far did you get between your services, training, and software?

Bootstrapping Using Services: George Anderson, CEO of Ninth Wave (Part 4)

George Anderson: Here is a lesson I learned. It’s very relevant to bootstrapping using services. I said, “How do we take this business to the next level?” The answer was to go out and raise some capital. I hired Jeffries and we put together an information memorandum and a package, and we went out and started to pitch to companies.

I heard two things from people that were frustrating. The majority of the people that I pitched to said, “We love the software, but we hate the services. Services are unscalable.”

Bootstrapping Using Services: George Anderson, CEO of Ninth Wave (Part 3)

Sramana Mitra: How long did you do the high-end data teaching business?

George Anderson: Up until 9/11. My learning center was in Broad Street in Lower Manhattan. They called it the Silicon Valley. I was in the information technology center during 9/11. 9/11 put it out of business. 

Sramana Mitra: Did your technology consulting business remain?

Bootstrapping Using Services: George Anderson, CEO of Ninth Wave (Part 2)

Sramana Mitra: Enterprise Engineering was an enterprise technology consulting firm?

George Anderson: It was and still is. 

Sramana Mitra: That is the company that we are talking about today?

Bootstrapping Using Services: George Anderson, CEO of Ninth Wave (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

George offers another case study for our very popular Bootstrapping Using Services track.

Sramana Mitra: Let’s start at the beginning of your journey. Where are you from? Where were you born and raised? What kind of background did you have?