Jon needed photographs for his websites and when he couldn’t find cheaper photographs, he sensed that others will have the same problem and started ShutterStock.
He started with less than $1000 and took it to $2+ billion IPO. Let’s see how he did it.
What you could learn from this episode:
- What sparked his interest in computers.
- Why he left one gig to do the computer service gig.
- What motivates him to start business
- Why failure in multiple business did not deter him but propelled him further.
- How he accidentally discovered about the market for images from his personal problems
- What he did when he never knew anything about photography.
- How he experimented with various pricing models to settle on the right pricing.
- Why he did not take any outside funding and his reason to hit profitability as soon as possible.
- How he views failure – This is very good.
