The Million Dollar Club

1/23/13Follow @sramana

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Salesforce partners such as Informatica, ServiceNow, and others. And with a U.S.-based potential market of over 40,000 customers, Mansa has already achieved $2 million in annual revenue.

Siva and his small team believe they will, one day, bootstrap to the billion-dollar mark. For now, getting to $10 million is on the immediate agenda.

Indus Net

Abhishek Rungta has bootstrapped Indus Net Technologies to a $5 million, 500-person Web design and digital marketing services company from Kolkata, India. Indus Net focuses specifically on application development for Web and mobile, integrated digital marketing, and Web design, with specific work in SEO and SEM.

Services companies are easier to bootstrap, since they bring in revenues and cash from the very beginning. What’s more, once profitable, you can set aside some of the cash to start developing products.

Abhishek’s company has developed an SMS-based election polling system for the West Bengal elections that has successfully saved the state huge manual work and expenditure. Among others, Abhishek’s agenda is to sell this solution as a product to other governments looking for similar functionality.

Now, we move to companies that will soon hit their million, likely in 2013.

Happy Grasshopper

In October 2010, multiple-time Inc. 500|5000 honoree Dan Stewart began a side venture based on a clear need for effective e-mail marketing campaigns. The project was originally inspired by an earlier venture, a customer relationship management (CRM) company Dan founded in 2007. One of his customers, a marketing-focused teacher to real estate agents and brokers, advised his students to stop sending e-mails that were “boring” in nature. He instead recommended that e-mail messages be “fun, relationship-building, [and] conversation starting,” giving Dan his evidence that creative message content was a challenge facing the market at large.

Happy Grasshopper is made up of a team of writers who create timely, interesting message content that is sure to evoke a response, making it easier to maintain contact with a network. The easy-to-use solution offers five services to sales professionals: keep-in-touch, canned content, sponsored tools, CRM marketing tools with integrated drip services, and DIY e-mail marketing tools. Dan’s writing team simply loads a new message into a customer’s account every three weeks. The customer edits and approves the message prior to sending.

The Florida-based company became Dan’s main focus after selling his CRM customers to his lead developer in 2010. Their advantages lie in ease of use, reach, pricing and content. Happy Grasshopper fully alleviates the discomfort of composing e-mail messages for just $19 per month. Scaled plan sizes are available for increasing network size, up to $39 per month for 5,000 contacts. And full reports on message deliverability and open rates are provided to the customer in real time.

Happy Grasshopper was formally incorporated in March of 2011. Their open rate was 198.2% higher than leading competitor Constant Contact, also within the real estate market segment, in the first quarter of 2011.

In 2012, Dan built a quarter million dollars in SaaS revenue and expects to reach $1 million in 2013.

InSync

Atul Gupta first began his entrepreneurial ventures in 2003 with an IT provider based in Bhutan, India. His drive to provide software solutions to local small businesses resulted in a move to Kolkata in 2006, where he founded InSync. Over the next three years the company conducted extensive research through their more than 500 domestic customers. Atul noted that once a business reached a certain volume, customers could no longer manage an e-commerce business without an integrated ERP system.

InSync responded to Atul’s findings by shifting focus from services to product. Customer feedback indicated that integration was a viable market, and the company released their flagship product, SBOeConnect, in 2009. SBOeConnect expands InSync’s business to a global focus, helping e-commerce merchants worldwide increase efficiency by integrating Magento and SAP Business One into a single all-purpose solution. The connecter provides a secure exchange of data between e-commerce and the ERP system through more than 60 integration points.

After establishing an initial partnership with SAP, an agreement was reached allowing InSync to resell the product as part of an integrated solution. The company published their first success story shortly thereafter. Today, SBOeConnect remains highly competitive against companies like zedSuite, eBridge Connections and Orbis Software in number of integration points, sync, and total cost.

To date, SBOeConnect has serviced over 80 paying Magento merchants. A typical product implementation is $7,400 plus an annual maintenance fee of $900, subject to variation based upon … Next Page »

Sramana Mitra is the founder of One Million by One Million (1M/1M), a global virtual incubator that aims to help one million entrepreneurs globally to reach $1 million in revenue and beyond. She is a Silicon Valley entrepreneur and strategy consultant, she writes the blog Sramana Mitra On Strategy, and is author of the Entrepreneur Journeys book series and Vision India 2020. From 2008 to 2010, Mitra was a columnist for Forbes. As an entrepreneur CEO, she ran three companies: DAIS, Intarka, and Uuma. Sramana has a master’s degree in electrical engineering and computer science from the Massachusetts Institute of Technology. Follow @sramana

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