Vijayan: Tekion's seed investors are currently sitting at a 400x return
“The good thing is my seed investors today are at 400 X, which is good, right? They're all happy investors and still early stages.”
Vijayan: Tesla built its initial scrappy internal ERP system in four months
“We didn't build the entire thing. Reality is in the four months we built the basic necessary version. It was definitely very scrappy. It was buggy, but made it work. And then from there we kept building”
Tekion co-founders took personal loans to buy dealership land for product R&D
“So personally, me and my co-founder, Guru, we took a loan to go buy the land of the dealership because I felt Techyan didn't have money to invest in the land. And then Techyan just invested in buying the dealership only because I felt if we buy the dealership …”
Vijayan: Tekion raised roughly $30M across its first three rounds
“First round was three million, which was seed, friends and family, and my money as well. And then second round was ten million, I think. And then B was I'm forgetting. So it was not a lot of money. Collectively, we might have raised probably thirty million, I …”
Vijayan: Vertical SaaS founders should offer equity to early design partners
“And then once you excite a few customers, ideally recruit them to be, you know, fully open up for your team. And that's what you need. I mean, of course, early days they would say, you know, they may need the software for free or they may need it in for a sign…”
Tekion bought two live auto dealerships as an early-stage startup for R&D
“And that's what we ended up acquiring two automotive dealerships. It was a very high risk, high stakes. We had to do because Tekyon is a small company. We didn't have a lot of money.”
Tekion hired nearly 3,000 people to build its automotive software platform
“The reason we had to have such a big team, right, close to 3000 people is because amount of things we had to build.”
Tekion reached $3B-$5B valuation and $30M revenue in three years
“Then he started Techeon, and in three years today, Techeon is a three to five billion dollar company. With, like, thirty billion, like, thirty million dollars of revenue, approximately, I believe.”
Vijayan: Left VMware for Tesla taking an almost $100,000 base pay cut
“Still, I had to take a pay cut purely in a salary and bonus, because VMware had been a really solid salary and great bonus. And that really stopped almost 100,000 dollars just purely from salary cut perspective. And then on top of it, I had to leave stocks bec…”
Vijayan: Elon Musk asked me to return to Tesla, but I declined
“I told this to Elon as well. And I said, I told him when I met him, he said Jay, what about, you know, potentially he was kind of indicating, can you kind of come back? But when I told him it is a bit boring for me. I said, I did what you wanted me to deliver.…”
Vijayan's wife lost sleep for six months after he resigned from Tesla
“My wife didn't sleep for six months when I left my job at Tesla, because how many, how much money I left, and people thought how much, you know, trust I established to deal on while it not, it was not working out that great for so many people I had in such a g…”