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I first met Ethan in 2005. He had an idea for a startup that would help consumers better book service jobs and would take on Service Magic, which he believed had a business model that could be disrupted. I was preparing to move back to the US from London after 11 years abroad. The company was called Red Beacon.
Invidi – Provider of addressable television advertising and marketing services to cable, satellite and telco-delivered television carriers. Klarna – Klarna provides a service that allows consumers to purchase via invoices or on account (store credit) from online merchants.
So when Sam Rosen came to me with the idea of disrupting storage with a product that is priced cheaper than existing incumbents and he could build a product that is a better service I was intrigued. But that’s harder to build in 2016 than it was in say 2005. The top 5 players combined control less than 25% of the market.
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