Answered produced feed
D 5 · C 5 · P 5 · Cm 5 5.00
Q in the meantime, give your team everything they need to be more productive and focus on the work that grows your business. Try Asana free for 30 days. You can get started now at NathanLatka.com forward slash Asana. That's NathanLatka.com forward slash A-S-A-N-A. Okay, so, twenty-fifteen you launched, uh, you get, sorry, 20, I think, yeah, twenty-twelve you get started on this. Have you decided to bootstrap or raise capital?
A So we ended up raising a bunch of capital. Uh, we did our first round. Uh, well, we did a couple of rounds. We did an angel round of 300,000. We did a seed round of just over two million. And then, uh, we actually had a leadership change. So our investors brought in a CEO to come in and run the company for a couple of years. And in that time when we had a different CEO here, there was another six million put into the business. So over eight million in total, uh, that we had raised. Uh, however, the CEO did not work out. So he, We had him exit the business. I came back at the end of 20 16, and at that point, we made the decision to become more of a profitable company. So now we're operating breakeven. We'll turn to profitability in the next couple months, and it's a whole different way of operating.
AI assessment note: “So we ended up raising a bunch of capital.”
Answered produced feed
D 5 · C 5 · P 5 · Cm 4 4.85
Q Yeah. So, I mean, this is a big moment for you to realize I need to shift from these big logos to just doing and doubling down on, on schools essentially. What was that moment? How did you know and identify that as a sweet spot?
A Uh, you know what, you know, we had been selling into corporate for a while and we kept coming up and this is actually back when we were just a timed video interview player. So that was our original product to market. So we weren't always the full supplemental. We were just the one piece, which was timed video. And, you know, as we sold that into corporate, we started coming against the same players over and over and it almost became commoditized really fast. And then on the side, you know, we had these schools that were actually coming to us and they were saying, Hey, you know, we wrote, we want to incorporate, like, a video essay, and this is kind of like that. It's like an asynchronous video platform. So we had, you know, U of T, they were the first school that came to us, and, you know, Canadian business school landscape's pretty competitive, so of course, once we got U of T, you know, Ivy and Queens were next in line, and after a couple months, we just thought, you know what, we're banging our heads against the wall, trying to compete against these other commoditized video products, when over here, we literally have, you know, EdTech clients coming to us, And, you know, they're signing up front on three-year contracts. They're a pleasure to deal with, and they're actually using our full product. You know, they're not saying, oh, we want to run some pilot, or, oh, we want t…
AI assessment note: “once we got U of T, you know, Ivy and Queens were next in line”
