
This is software (AWS) generated transcription and it is not perfect.
Well, I've been kind of an entrepreneur from day one, Observe Point's actually, my third company. I did a small project in college, and then I did another company called I-lite Media, which was sold to think partnership. I did that with a couple of other guys and being in the space I was in, I saw some common problems that kept cropping up again and again, and it just seemed like the kind of problems that needed to be solved by software. I was also a believer in the SAAS business model. This is far enough back where SAAS was just being understood and the power of what SAAS could do but myself. My other co-founder, John Pestana, he was the co-founder. We just knew that this was a problem that we could solve and needed to be solved by software. So we just said, let's go for it, let's build a piece of software and take this to the market. There was a specific incident that did happen in my previous company. We relied on tracking technology to get paid basically like a company with certain partners. And there was a consistent breakage that was happening again and again along with these partners. And so there was just one in particular where it was a very large campaign spin for us. The tracking broke. All of a sudden, we lost all of our metrics and we were just very frustrated with that. And that, I think, was the seed, if you will, that was planted to go solve that problem and that eventually became observe point.
sure. So observe point is about data quality and actionable insights. It's about the ability to understand what different data sets that you have, what technology they're collecting them and what's actually actionable and trustworthy. A lot of large companies that scale suffer from a problem of not believing in the data that they're looking at. And it only takes one loud voice inside of a team, especially a larger enterprise team, to decide that. Well, we can't really use this data were not really comfortable with it. Nobody really wants to make a decision on it, and therefore we are going to just scrap it and punt on the decision, and we'll try again on the next campaign. And unfortunately in a lot of companies that are there larger scale that happens repeatedly and this cycle goes again and again. So what we did with Observe Point is create a technology that allowed a level of trust in the data that made them find actionable insights and be able to act on them.well. A lot of customers weren't solving it because it's a very difficult problem to solve. Those who were doing some type of quality checks were basically doing it in a manual process. They would go page by page by page in their website and look at what data was being collected and then try to validate that against the implementation standard. So it's a little bit like a um it's a manual process where you're just doing step by step by step. And when you have websites that air, you know, tens of hundreds of thousands of pages. That process is impossible to do at any type of real scale. And with sites now changing like they are, every site is basically different. Um, that it was just a sometimes a few minutes ago, especially with like larger media properties. So they had to come up with some type of solution, and that solution essentially became US, became observed point where it was an automated software product that did that for them,
Well, it's a good question. The first few weeks I think of starting any company are exciting. I think most entrepreneurs tend to see all the upside in the business, and they don't see the problems that are going to come later. They just think, Oh, well, this is gonna work. This is gonna work. This is gonna be great. We're gonna have so much success. And then whether it's a few weeks, a few months, sometimes even longer. Then you start understanding some of the problems in the marketplace. Perhaps it's difficult to get your product to the customer. Perhaps it's an education process where you have a user who understands your value proposition, but their boss or their company doesn't. So you start hitting these these roadblocks that sometimes air also completely unexpected. And that is why most entrepreneurs I find are generally enormous optimist. In fact, there optimists in ways that are hard for those who, um, are not to really understand it Z like why can you not see how this could possibly go wrong? And those tend to be the people that don't always start businesses but are very valuable into the business later. But that entrepreneurial mindset. That visionary mindset is one that sees solutions and ones that see positive outcomes and by I think personality and by nature tend to ignore some of the natural problems that are gonna happen.the first few months. I think the first few months were we did a fair amount of research, understanding of the size of the marketplace. Um, you know, when John and I started the company, we had an idea that look, if we couldn't build a business that was going to do $100 million a year in revenue, why bother? And so I think there is something really valid to say What's the big idea? Because, ah, lot of the challenges that you're gonna have in growing a business are relatively the same, whether or not it's a $5 million idea, $50 million idea or $500 million idea. The roadblocks are not all that different, so solving a bigger problem that has an opportunity to be a bigger solution and therefore ah, more successful company. And better outcome, I think, is the way I tend to lean as well. So I think that is what we did in the first couple months is just internally validate that this was the right problem to solve and that it had some real value in a business