How To Know When To Sell with Anu Shukla, co-founder and Chairman of Botco
The Exit - Presented By Flippa
The Exit - Presented By Flippa
5.0 • 420 Ratings
🗓️ 14 June 2021
⏱️ 25 minutes
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| 0:00.0 | All right, guys. I am joined here today with Anu, Shukula, the co-founder and chairman of Botco. |
| 0:20.2 | How's it going today, Anu? It's going great. Nice to be here with you. Yeah, great to have you. |
| 0:26.4 | Before we get into your multiple exits that you've had and your successes, let's hear a little |
| 0:32.9 | bit about your background. What got you into starting businesses? Well, I've been in the Silicon |
| 0:41.2 | Valley for a while, and I've been very fortunate to work with some winning teams. I worked for |
| 0:46.5 | other companies, other startups, and most of them got acquired or went public. I finally felt |
| 0:52.6 | that was time for me to do it on my own. I had an idea that I felt was very good, and I wanted to |
| 0:59.1 | go forward with that. That's how I got started. Got it. Got it. What was the first company that you |
| 1:09.7 | took through to an exit? Did you have a co-founder and what was that process like? That was a very |
| 1:16.9 | interesting company. It was a company called Rubrek, and it was one of the pioneers of what we |
| 1:20.8 | call marketing automation these days. But I just want to mention that in those days, people thought |
| 1:27.6 | it was an oxymoron. That marketing couldn't be automated. It was really an art not a science. |
| 1:34.2 | We had a lot of evangelicals selling to do, to say that no marketing, actually marketing departments |
| 1:41.3 | in B2B organizations are right for automation. I started the company with my co-founder, |
| 1:49.7 | two co-founders. One was my CTO, who's actually our CTO at Botco right now, Chris Maida, |
| 1:55.6 | and the other one was a general called Health Steeger. Hal and I had worked together for about 12 |
| 2:00.6 | years together in different B2B enterprises. Three of us got together and started Rubrek that |
| 2:08.2 | spelled with a C. As I mentioned, one of the first companies that was building B2B software for |
| 2:17.6 | marketing departments to be used by enterprises. Got it. How long did you guys operate the business |
| 2:29.0 | for before the acquisition, and how did you really get into the process of going through a sale? |
| 2:39.2 | Sure. We operated the business for about 18 months, and we rate about $13 million in a series A |
| 2:47.3 | of 5.6 million, and then a series B of about 8.3 million, approximately. In this 18 months, |
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