Scott Dorsey, former CEO of ExactTarget and Managing Partner at High Alpha, discusses the acquisition of ExactTarget by Salesforce.
0:00 / 0:11exact quote · 11.0s
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“And then in July of 2013, we were acquired by Salesforce. That was incredible. That was a rich moment of achievement and satisfaction. We had about 2000 employees all over the world at the time”
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More from Scott Dorsey
AssertionContradicted
Drive Capital is the only venture firm with scale in the Midwest
“We have drive capital in Columbus, which is excellent and a great team. They're putting meaningful capital to work in the Midwest, but really outside of drive, we have very little scale of capital and that makes it more challenging for our company.”
Scott DorseyDec 5, 2016▶ 25:4420VC: Lessons Learnt From Marc Benioff & Selling To Salesforce For $2.7bn, What Product Market Fit Really Looks Like & Why Pricing Is Startup's Biggest Problem with Scott Dorsey, Managing Partner @ HighAlpha
Opinion
Dorsey: Salesforce CEO Marc Benioff is an excellent manager
“What most people may not know is he's actually an excellent manager.”
Scott DorseyDec 5, 2016▶ 7:2020VC: Lessons Learnt From Marc Benioff & Selling To Salesforce For $2.7bn, What Product Market Fit Really Looks Like & Why Pricing Is Startup's Biggest Problem with Scott Dorsey, Managing Partner @ HighAlpha
AssertionNot checkable as stated
Dorsey: Salesforce operated at a faster pace than ExactTarget
“We felt like we operated at a fast pace at ExactTarget, and the pace at Salesforce was even faster”
Scott DorseyDec 5, 2016▶ 8:0720VC: Lessons Learnt From Marc Benioff & Selling To Salesforce For $2.7bn, What Product Market Fit Really Looks Like & Why Pricing Is Startup's Biggest Problem with Scott Dorsey, Managing Partner @ HighAlpha
PredictionHeld up
Dorsey: High Alpha Capital likely to invest in all Studio graduates
“So another way to put it is we're likely to invest in every one of our companies that come out of the high alpha studio.”
Scott DorseyDec 5, 2016▶ 11:4620VC: Lessons Learnt From Marc Benioff & Selling To Salesforce For $2.7bn, What Product Market Fit Really Looks Like & Why Pricing Is Startup's Biggest Problem with Scott Dorsey, Managing Partner @ HighAlpha
AssertionNot checkable as stated
High Alpha requires up to 50 customer calls before greenlighting a startup
“So even before we decided to green light a new company, we were looking for 25, 30, 40, 50 customer conversations to really validate that we're solving a true problem.”
Scott DorseyDec 5, 2016▶ 12:1120VC: Lessons Learnt From Marc Benioff & Selling To Salesforce For $2.7bn, What Product Market Fit Really Looks Like & Why Pricing Is Startup's Biggest Problem with Scott Dorsey, Managing Partner @ HighAlpha
Insight
True product-market fit requires selling to buyers with no prior relationship
“But when you know you have product market fit is when you start selling organizations where you have no prior relationship, you know, they're not friendly.”
Scott DorseyDec 5, 2016▶ 14:1020VC: Lessons Learnt From Marc Benioff & Selling To Salesforce For $2.7bn, What Product Market Fit Really Looks Like & Why Pricing Is Startup's Biggest Problem with Scott Dorsey, Managing Partner @ HighAlpha
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