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The Exit - Presented By Flippa

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

Technology

5.0420 Ratings

🗓️ 14 June 2021

⏱️ 25 minutes

🧾️ Download transcript

Summary

Today we’re talking with Anu Shukla, co-founder and chairman of Botco, a marketing chat solution between providers and consumers. Anu has had many successful startups and exits including from Offerpal Media, Mybuys, and Rubric. She knows how to prepare for an exit, when to prepare, and what to prepare. She’s involved in many projects including Elevate, a team that invests and mentors underserved start-up companies and helps them scale.

Transcript

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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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