Building a Capital Efficient Second Venture: LiftLab CEO John Wallace (Part 1)

Sramana Mitra: John, welcome to the show again. What are you up to these days? It looks like we talked a while ago about your previous company DataSong and you’re up to a new adventure. So, tell us about it.

John Wallace: I’ve been fortunate to be building Lift Lab for the past five years. The team had built a company with me called DataSong, which, you covered. I feel very honored and fortunate to be a second time attendee on one of these interviews.

Building a Terrific EdTech Venture in India: Pallav Pandey, CEO of Uolo (Part 6)

Sramana Mitra: This is very interesting. The way you’ve stepped through the line of thinking of why you’ve arrived at these decisions is very instructive. Where are your schools?

Pallav Pandey: All over India. These schools are very different from typical SME clusters. SME clusters are very local. That is not how schools are. Schools are evenly distributed across India. The only way you can go and cover schools is if you figure out a telephonic way to reach out.

Sramana Mitra: Definitely.

Building a Terrific EdTech Venture in India: Pallav Pandey, CEO of Uolo (Part 5)

Sramana Mitra: Education is the only passport to get to the next level.

Pallav Pandey: Absolutely. Everybody in India is very clear that if I have to go to the next level, it is my child who can take me there if educated properly. People are spending on education. If you are able to do EdTech in India at a thousand rupees per annum, then every single family is going to buy. We didn’t know how exactly it will play out. Blume got excited, so they put in some money.

Building a Terrific EdTech Venture in India: Pallav Pandey, CEO of Uolo (Part 4)

Pallav Pandey: Then we had another divine intervention, I would say. He started collecting whatever money was due from schools so that he can pool up whatever was left. He said, “There is one school in Delhi which was opposite to your house. They were supposed to pay us some amount. They’re not paying us. They want to meet somebody senior.” The principal was insisting on it.

I met the principal. She said, “I’m very sorry to hold your payment to meet you.” She thought I was the founder. She said, “I really wanted to meet you. We love your product. This is how we use it.” It was a very simple ERP. Think of like WhatsApp for schools so they can do the parent-teacher communication via the app. She said, “I will refer you to a school I used to work with. We have three branches in our current school. Before referring you, I wanted to know who these guys are.”

Building a Terrific EdTech Venture in India: Pallav Pandey, CEO of Uolo (Part 3)

Sramana Mitra: I have coached and mentored hundreds of thousands of entrepreneurs. As a rule, I advise people not to follow this principle of releasing a free app or any kind of free service thinking that we will figure it out later. I want you to hypothesize that you are going to do a free app and it’s going to get a number of users. What is your premium service?

I don’t actually like freemium. I like free trial. Something you use for three months for free and then you pay for it. If that is a viable go-to-market strategy, do this business. Otherwise, don’t do this business. This is my mantra.

Building a Terrific EdTech Venture in India: Pallav Pandey, CEO of Uolo (Part 2)

Sramana Mitra: What you did had a major impact.

Pallav Pandey: They did that and they swept the election. While we were consulting them, something crazy happened. There was a batchmate of mine in the US. He was consulting for McKinsey. He was after my life. We were doing some interesting stuff, but it was person-dependent. I was also getting tired. Not to mention that the people I had to work with were not great people to work with and look up to in life.

Building a Terrific EdTech Venture in India: Pallav Pandey, CEO of Uolo (Part 1)

Pallav is a serial entrepreneur and one of the cofounders of Knowlarity. Readers may recall our Knowlarity story as told by Ambarish Gupta. Pallav’s newest venture is a fantastic case study in positioning and Go-to-Market Strategy for EdTech.

Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born and raised? What kind of background?

Building a Venture Scale AI Company: Observe.AI CEO Swapnil Jain (Part 6)

Sramana Mitra: What did AI do that was really unique to your product?

Swapnil Jain: We’ve always used LLMs in our tech stack. The key technology was transcription. A human doesn’t need to listen to a call. We can make it much more easier for them to understand the call. Then we also built a lot of NLP technology to further crystallize that. They won’t even have to go through the transcript or look at the keywords. We can just give them a summary. This was all not possible before.