Finding a Viable Monetization Model: wefi CEO Zur Feldman (Part 6)

Sramana Mitra: You launched a product and you had to experience getting traction with 8 million users but there was no monetization from the consumer market. How long did it take you to go through that process of testing the market? How did the financing correlate with that period?

Zur Feldman: This is probably typical to any startup. Sometimes, you make mistakes or hit a wall and then you have to change direction. To answer your question, it took us about two years or so to realize that consumers may like what we do but they’re definitely not at a point where they will start paying money for this type of solution. Then, we tried to look for who are actually suffering and can actually value the service that we provide. That’s how we turned to a much tougher type of customer. We engaged with customers who realized that there is a true problem and the problem is not getting easier. It’s actually getting more complex and tougher as devices are penetrating and technology of devices are demanding more and more data. >>>

Finding a Viable Monetization Model: wefi CEO Zur Feldman (Part 5)

Zur Feldman: We are working with big cable companies to understand how they can influence the experience of the customer. When they see the map of connectivity, they want to improve the connectivity experience in between the different technology that they’re dealing with. It’s not only sensitive to WiFi but also to different technologies from different carriers. The central point is it’s from the point of view of the device or the customer, not necessarily from the network of providers.

Sramana Mitra: How do you go to market? Were you selling to companies who have WiFi networks?

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Finding a Viable Monetization Model: wefi CEO Zur Feldman (Part 4)

Sramana Mitra: There was a group of young founders who started wefi and you stepped in as the CEO?

Zur Feldman: They did not really get along because of the differences in their views. Each one had his own imagination on how it needs to be. They were looking for someone who can actually meld it all together and create one vision that can shape up this company.

Sramana Mitra: Pitango funded the company. You came in as CEO. What was the minimum viable product that you launched with?

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Finding a Viable Monetization Model: wefi CEO Zur Feldman (Part 3)

Sramana Mitra: How does the story of wefi begin? Were you incubating this company inside of your venture firm, Pitango?

Zur Feldman: Yes. Pitango was a seed investor in this company. This company actually started in late 2006 before the first iPhone came out in 2007. The premise was that the devices that were starting to build will create an enormous demand on bandwidth and the supply will become a scarce resource. Technology that was assessed at that time showed that the infrastructure wouldn’t be able to provide adequate coverage and respond to the enormous data demand. Technology for connectivity, at that time, was not really available in almost any of the mobile devices with the exception of a few laptops. We only had WiFi then.

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Finding a Viable Monetization Model: wefi CEO Zur Feldman (Part 2)

Sramana Mitra: What led you to going to the startup world after all these years of Packard Bell?

Zur Feldman: The experience in Packard Bell was very different because when I joined the company, there were 16 people. Packard Bell helped to revolutionize the PC industry and actually create what we see today – all these personal computers at home, which was something that nobody really thought back in 1986. My experience there helped me understand a few things. Number one is that a small idea can be a huge idea if you really focus on doing something, even if it’s new. >>>

Finding a Viable Monetization Model: wefi CEO Zur Feldman (Part 1)

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8 million users and no revenue. What do you do? Find out from Zur Feldman.

Sramana Mitra: Zur, let’s start with your personal story. Where are you from? Where were you born and raised? What kind of circumstances?

Zur Feldman: I’m originally from Israel. I spent all my youth in Israel. I ended up spending 26 years in different places in the US. Through different paths, which I can later talk about, I ended up studying in New York. My first degree is in Photojournalism and Television. I then went to Los Angeles and joined UCLA. I studied Business Administration and spent a big part of my time there – nine years. I made a switch from the diplomatic core into high-tech industry in 1986. >>>

Thought Leaders in Mobile and Social: Yaacov Cohen, Co-Founder and CEO of Harmon.ie (Part 6)

Sramana Mitra: There’s one article called “Innovation’s Next Decade” which you will find interesting. That article will probably address the kind of things that you’re talking about.

Yaacov Cohen: I believe also in the convergence of ethics and technology. Spirituality and technology needs to be better converged. Technology won’t free humanity.

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Thought Leaders in Mobile and Social: Yaacov Cohen, Co-Founder and CEO of Harmon.ie (Part 5)

Yaacov Cohen: The enterprise is a lot more heterogeneous. It used to be controlled by three to five vendors. It’s a lot more diverse, because I can have a cloud service for pretty much anything in the enterprise. I think the mega trend here is enterprise mobility and it includes cloud services, BYOD, devices, and security. I think that’s the landscape. >>>