How to sell customer capital?

The Evolution of Cloud Services  March 21, 2011 – 09:23 am
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As investors we are fortunate to meet with hundreds of companies. One of the first things, whether right or wrong, we do is to immediately try and put the company in a “bucket” in terms of what they are doing. This helps in identifying the market, competitors and better understand the value proposition. I love watching Paul Graham hosting his “Office Hours” live at TC Disrupt as you can watch him struggle to do this in real-time with the pitching companies.

When we first met Nicolas and Daniel of AppDirect in 2010 we immediately understood what they were doing and why it was important, but we struggled to put the company in a bucket. Were they a SaaS company? PaaS? A marketplace? A provisioning service? We debated it internally and I was recently reminded of this by a tweet from Box’s CEO, Aaron Levie:

Let’s just agree that this is how we describe cloud to our moms: SaaS is Crate and Barrel, PaaS is IKEA, and IaaS is Home Depot.

— Aaron Levie (@levie) July 15, 2012

 

Actually, it didn’t matter if we couldn’t ‘bucket’ the company. It was very apparent that Nicolas and Daniel had very strong convictions about cloud-based software and a vision as to how they would evolve and where the market was going. They saw a future demand for a platform to sit between cloud-based services and customers. This platform would provide app discovery, administration abilities, unified billing and employee provisioning for the customer. They also saw the demand across numerous industries to aggregate and sell cloud-based services, or any digital content for that matter.

Source: iNovia Capital

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If you cannot meet in person all can be accomplished via technology.
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