Cracking the Online Video Monetization Nut: Adap.tv CEO Amir Ashkenazi (Part 3)

For many venture startups, getting funding is always a significant challenge as well as a strategic milestone (taking too much funding, or not enough). Amir had little difficulty gaining funding in the midst of the greatest boom market, and made what ultimately turned out to be the correct decision in the amount of funding received, allowing his to company to tide over the bust cycle.

SM: What was the funding structure of Shopping.com? Since it was born in Israel was it funded in Israel or did any US companies participate in the funding? AA: We raised the seed round in Israel. From there we used mostly US-based venture capitalist.

SM: Which VC’s were involved with Shopping.com? AA: Bain Capital invested, AOL invested, Bank of America, and through the acquisition of Epinions we also had Benchmark and August Capital.

SM: In 1997-98 timeframe, what was the landscape like for investing in Israeli companies? Today it has become quite standard. AA: Israel has its own Silicon Valley, and in many ways is similar. The environment is very suitable and friendly to entrepreneurs. Even back then there were quite a few VCs and funding was not a big problem.

SM: Can you give us a few key milestones about building Shopping.com? You were the Chief Technical Officer if I remember correctly. AA: Yes, I was CTO of Shopping.com. In regards to the milestones, we went public in 2004.

SM: How much was your revenue when you went public? AA: I would have to check to be accurate with those numbers, but we were profitable and both revenues and profits were growing quickly. [Note: They earned $6.9 million on revenue of $67.2 million in 2003, prior to the IPO.]

[to be continued]

[Part 2]
[Part 1]

This segment is part 3 in the series : Cracking the Online Video Monetization Nut: Adap.tv CEO Amir Ashkenazi
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