Sramana Mitra: This problem has been identified a long time ago. People have tried to build such enterprise knowledge management companies before. I've seen
If you haven't already, please study our Bootstrapping Course and Investor Introductions page. I wrote a book called Billion Dollar Unicorns a few years back. Writing this book took me through the extensive process of talking to entrepreneurs who have built tech companies with valuations above a billion dollars. While there is a tremendous amount of serendipity involved in any extraordinary success story, one recurring theme comes up in these case studies. I am particularly excited to share this nugget because it applies broadly to all classes of entrepreneurial ventures. Bootstrap first, raise money later. That's what Fred Luddy did when he founded ServiceNow back in 2005. Leveraging his domain knowledge and expertise in IT ServiceDesk software, he rapidly acquired 12 customers before raising funding. Initially, he started charging $25 per seat and the 12 customers paid up. He raised $2.5 million in venture capital WITH 12 customers, and ample
Sramana Mitra: Did revenue take a hit in 2020? Hannah Fastov: It did. That was when we were able to see the benefits of the direct to consumer business that we
Sramana Mitra: What level did you reach in 2019? Hannah Fastov: In 2019, we did $4 million. Then the pandemic hit. Sramana Mitra: How did that go? Hannah Fastov
Sramana Mitra: That brings us to end of 2017. What kind of revenues were you tracking at? Hannah Fastov: Close to a million. At this time, most of our revenue