Part 3 - June of 2003 till now
- So after raising 250K of capital, we had to pay out a few tens of thousand of dollars to amicus to buy them out. The company had very limited capital to run operations. The company downsized to the founding team and has been running cash flow positive every since.
- It was a depressing summer of 2003, but the founders never lost hope and never stopped selling.
- Last year, the company did several millions of dollars in sales, was highly profitable and perfectly positioned to capitalize on the exploding market in online personalization.
- In early 2006, the founders were growing tired and as a board we made a decision to either sell the company or raise additional capital rather than to continue to bootstrap the company.
- In mid 2006, Acxiom initiated conversations with the company. A few weeks ago, Acxiom was the lucky buyer of Kefta. I think they got a great deal and a year from now will be thinking that they were lucky to acquire the company. Time will tell.