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Today's Thought- The Hotmail Story |
Wednesday, December 24, 2008 |
While internet businesses are slowly making their money today, it would be fascinating to know how the first web venture actually made this happen. Many of you who watched the dotcom boom would know how Sabeer Bhatia made riches by creating Hotmail.com. But for the benefit of the rest of us, Trans Indus Entrepreneurs Bangalore Chapter had organised an interactive session with the legend himself. He narrated the complete story of how he made it big in Silicon Valley.
“After studying in Caltech, I wanted to continue with my PhD. But I was advised to bring in some diversity to my education and so I took up a course on business for electrical engineers in Stanford University. This was quite a momentous decision since it gave me an insight into entrepreneurship.
So after I graduated I started searching for a job in the Silicon Valley and it was hard to get one due to the depression in 1991-92. Luckily I got a job with Apple Computers. So within 9 months of getting a good job I decided to leave because I had this opportunity to work on building a computer.
But few years down the line the company lost steam and started floundering. During that time the internet was in its infancy and I heard some Marc Andreessen had created a web browser which could be used to access information on computers placed in different parts of the world. At this juncture I was completely taken in by the idea of internet. Prior to the internet, people had to write specific programs for each platform. But a web browser had the ability to work on any platform, be it a Unix, Macintosh or a PC. So I was sure that I wanted to do something on the net, I was wondering that it could be a web based database on the net accessible anywhere in the world. Then I wrote a business plan and gave it to my partner Jack Smith.
While Jack and me were working on the idea of web based database, our company put a firewall in the corporate intranet. Since we couldn’t exchange mails, we had to work with floppies and pieces of paper. Then we thought of putting this database on some remote server so that both of us could access it anytime anywhere. Then we thought why only documents on servers, why not have a private email… so that was the genesis of the idea and we started looking for finance. Convincing the VCs
I started wearing formal suits and learnt how to present my idea in a convincing manner. Those days the market was filled with venture capitalists and lot of them were pseudo, just waiting to steal ideas. We had to use our web based database as a ploy before we showed them the Hotmail idea. Nearly 19 of them turned me down saying I don’t have the experience, managerial skills nor am I trained in software design.
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WYD Team |
posted by Win Your Dreams @ 8:36 AM |
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