If the Shoe Fits: Patience Pays
by Miki SaxonA Friday series exploring Startups and the people who make them go. Read all If the Shoe Fits posts here
For many founders speed and as-instant-as-possible gratification are their watchwords.
They aim to be a rocket and when it doesn’t happen quickly they are on to the next idea.
Now look at the father and two sons who founded and built Qualtrics.
Two years ago Qualtrics had bootstrapped its way to $50 million in revenue, 200 employees, 3,800 customers and a $500 million acquisition offer.
CEO Ryan Smith is all of 33, which means he was just 23 when the company started just after the dot com crash (dad created the product and his older brother powers the tech.)
He turned the buyout down and took investment instead.
Two years later they have over $100 million in sales, 550 employees, 6,000 customers, a billion dollar valuation and $150 million in a series B round.
It’s said the best time to start a company is during tough times when money is tight.
Qualtrics may not have been built fast, but it was certainly built to last.
Image credit: HikingArtist
