Category: Austin (Page 186 of 317)

Austin-based Revionics Raises $30 Million from Goldman Sachs

imgres-3Revionics, a retail software maker, has announced it raised $30 million in venture capital from Goldman Sachs.

The Austin-based company plans to use the funds to expand its global market share and for research and development on its software products.

As part of the deal, Hillel Moerman, co-head of the Goldman Sachs Private Capital Investing group, plans to join the company’s board of directors.

“Revionics’ best-in-class product, customer base, and management team have positioned the company to be a global leader in merchandise optimization,” Moerman said in a news release. “We are pleased to contribute to Revionics’ product innovation and continued success.”

Revionics creates data-driven shopper analytics for retailers. It has more than 37,000 customers worldwide. The company reports its customers “typically see a 2 percent to 5 percent increase in gross margin, a 2 percent to 7 percent increase in sales and on average a $10 return on every dollar invested.”

“We selected Goldman Sachs as our new financial partner due to their distinguished track record funding fast growing pre-IPO companies. We are thrilled that they see the significant growth opportunity ahead of us,” Marc Hafner, Revionics CEO said in a news release. “Revionics is committed to innovate and provide greater value to our customers. Today we deliver an estimated $2B in additional profit annually to our retail customers. This investment will accelerate key R&D efforts as well as provide us with additional access to capital for future acquisitions.”

Revionics relocated its headquarters to Austin from California in 2013. The company has previously raised $18 million in three rounds from two investors, according to its Crunchbase profile.

Austin-based Boundless Network Acquired by Zazzle

imgres-2Boundless Network, founded in 2005 in Austin, just got acquired by Zazzle, an online promotional products company, according to Promo Marketing Magazine.

The terms of the deal were not disclosed.

Austin Ventures has backed Boundless Network, which makes custom-printed promotional items for companies. It has raised an estimated $17 million since its inception, according to this 2011 Austin Business Journal article. Zazzle has raised $46 million since its founding in 1999, according to its Crunchbase profile.

The consolidation is aimed at battling T-shirt newcomer TeeSpring, which is a Y-Combinator company backed by Andreessen Horowitz and Khosla Ventures since 2011 that has raised $56 million in venture capital, according to this TechCrunch article.

“Henrik Johansson, Boundless president and co-founder, will continue to run the company and assume the role of CEO, and Boundless co-founder Jason Black will consult in an advisory role,” according to the Promo Marketing Magazine post.

Building an Innovation Zone in Austin

By SUSAN LAHEY
Reporter with Silicon Hills News

Sen. Kirk Watson speaking at the Austin Chamber's Innovation Summit, photo by Susan Lahey

Sen. Kirk Watson speaking at the Austin Chamber’s Innovation Summit, photo by Susan Lahey

Austin is poised to become a global center of innovation, especially in the field of life sciences and medical research, but there are some big hurdles to overcome and potential threats that could knock the city off its trajectory, if it’s not careful.

That was the bottom line of the Austin Chamber of Commerce’s Austin Innovation Economy lunch Thursday at the Hyatt.

More than 350 people attended the event which looked at Austin’s plans for an Innovation Zone proposed to be from MLK Blvd. south to the river and from San Jacinto to I-35, according to Texas Sen. Kirk Watson. Watson has been named as incoming chair of the advisory committee for the project. The centerpiece of the project is the Dell Medical School at the University of Texas but Watson said the innovation zone will not only coordinate with Central Health (the county’s public healthcare district) and Seton but will also coalesce around art, software development, media and other elements of the community.

Dr. Clay Johnston, inaugural dean of the Dell Medical School at the Austin Chamber's Innovation Summit, photo by Susan Lahey

Dr. Clay Johnston, inaugural dean of the Dell Medical School at the Austin Chamber’s Innovation Summit, photo by Susan Lahey

At present, according to Dr. Clay Johnston, inaugural dean of the Dell Medical School, the medical field is leagues behind where it should be in terms of innovation.

“Doctors still use pagers,” he pointed out, “one of the least effective ways to communicate.”

The U.S. has one of the most expensive medical systems in the world, but life expectancy has only risen by less than a decade since the 1960s. In terms of actual care, he said, we’re comparable to Cuba.

The reason the medical field is so far behind is that the financial model for medical care depends on people being sick, on multiple procedures and doctor visits. Innovation creates efficiency, eliminating redundancy and therefore causing a loss of income.

There’s a built-in disincentive to innovate which means it’s time for a revolution in health care. One of the goals of the innovation zone is to make research through the University of Texas Dell Medical School and make it available for entrepreneurs to create that innovation revolution. The innovation center will create better access for collaboration, clinical trials and other advantages of critical mass in a medical practice, university and research setting.

Another speaker, Thomas G. Osha, managing director of innovation and economic development with Wexford Science and Technology which is a real estate investment company that helps develop research and innovation centers, said Austin has some distinct advantages as well as risks.

Much of the funding for medical research, Osha said, has come from the National Institutes of Health and NIH funding is being significantly reduced. At the same time, research and development costs are skyrocketing, making medical research more exclusive. In addition, he said, a lot of people believe we’re creeping up on a new tech bubble “We’ve drifted from the lean startup model and are chasing ever sillier return models.” Moreover, he said, Austin does not have the talent pool yet to support the opportunity in life sciences and medical research.

Each of those situations, he said, presents an opportunity for Austin to differentiate itself.

“You have phenomenal things happening in music, art, culture, the innovation zone should be the thing that stitches all of those things together.” Austin needs to approach the innovation zone in a way that’s exclusively Austin, he said, including “open, thoughtful, creative, inclusive.” Other medical research and life sciences organizations are replacing NIH money with Department of Defense and Homeland Security money, he said. Startups in this space often require an investment of at least $10 million, which generally means the company gets pulled to one of the coasts where there is not only funding but access to institutions and opportunities for clinical trials. The creation of the innovation center, combined with the attractive Austin lifestyle might be able to counter that. People talk a lot about Boulder The lifestyle in Austin, plus the power of proximity can create an advantage that Silicon Valley lacks and Cambridge, Massachusetts is “losing a little bit,” Osha said.

“People always talk about Boulder and how they have five strong clusters. But those clusters never talk to each other. Cross pollination is the way to move forward.”

It’s Time to Sign Up for Google Fiber in Austin

austin_fiber_vanGoogle Fiber sign ups have gone live in South and Southeast Austin.

Residents in those areas can now sign up for Internet that’s 100 times faster than today’s basic speeds.

“This is just the beginning,” Mark Strama, head of Google Fiber Austin wrote in a blog post Monday. “We’ll be opening new areas of the city for signups on an ongoing basis, and we hope to bring Fiber to every neighborhood in Austin that wants it.”

It costs $70 for data and $130 for data and TV for consumers. Google also offers a small business plan for $100 a month through its Early Access Program for Google Fiber for Small Business.

“Austin is already booming with ambitious and creative entrepreneurs, and we can’t wait to see what small businesses do with Fiber,” Strama wrote in his post.

There’s also deadlines listed for signing up.

For more information, Google has opened its Fiber Space in downtown Austin at 201 Colorado Street. The public can stop by and “take Google Fiber for a spin, sign up for service, and see firsthand why speed matters,” according to Strama. “The Fiber Space is also a gathering place for the Austin community, so be sure to check out the schedule of events happening this month.”

B.A.S.H.H. Founder Lani Rosales Keeps Austin Authentic

By SUSAN LAHEY
Reporter with Silicon Hills News

Lani Rosales, photo by Annie Ray

Lani Rosales, photo by Annie Ray

“There’s not one business meeting I go to where I can’t cuss and wear flip flops,” said Lani Rosales, explaining one reason why—when she married her husband, Benn Rosales—she agreed to include in their vows that she’d never force him to leave Austin.

Many people know Lani Rosales by name or reputation, but few have a clue how many hats she wears. She is co-founder (with Benn) of the Big Ass Social Happy Hour (B.A.S.H. H.). She’s the fierce administrator of the nearly 9,000-member Austin Digital Jobs Facebook Group where she admonishes anyone on the site “Do not post anything for sale or you’ll die instantly.” She’s chief operating officer of AGBeat, of which Benn is CEO. She’s the face of their organization who, at the first Ignite Austin, gave an etymology of curse words. She’s the tender-hearted kitten lover who in one minute tells her nearly 3,000 Facebook friends and 10.5 thousand Twitter followers “buy my book, BITCHES” and in the next shares a heartbreaking post about the loss of their son, Kennedy.

In an entrepreneurial world where egos abound and many people aspire to celebrity status, Lani and Benn Rosales hold ground in understated, earthy Austin culture like Spartans prepared for siege. A couple of closet introverts, they befriend everyone, their contributions rarely spotlight their primary business—AGBeat—and Lani’s social media voice always translates as authentic and personal.

“She’s not afraid of ripping someone’s face off if they’re a fraud a scam artist…,” said Kyle Bailey, a close friend and B.A.S.H.H. volunteer who’s amazed at Rosales’ willingness to be call it as she sees it, rather than play business politics. “She’s judicious about it…there are a lot of people talking smack, but for Lani it’s about ‘Who are you hurting?’”

The Rosaleses run the American Genius website, which started as Benn Rosales’ blog about real estate and has expanded into a site that also covers technology and entrepreneurship. From there, the couple started the Austin Digital Jobs, B.A.S.H.H., BizBashh—a networking event for startups—and Spark of Genius, a business camp for decision makers. Lani also co-authored the book Real: A Path to Passion, Purpose and Profits in Real Estate.

The Birth of B.A.S.H.H.

Benn Rosales started AGBeat in 2006 as realtorgenius.com, hoping to write about national real estate issues without impacting the brokerage where he worked. When the Board of Realtors demanded that he stop using the word “realtor,” in his URL, Lani Rosales said, he had to decide whether to fight back or play the victim. He chose to complain about the organization picking on the little guy, and overnight his blog exploded, from a few thousand visitors a week to 60,000 a month. That’s how the couple got into publishing. Some of those visitors were entrepreneurs who commented that the content was useful to them as well, which inspired expansion of AGBeat’s focus.

“We have this really naïve idea that we can change people’s lives…,” Lani Rosales said. The focus is producing content with meat. “If we can tell a reader one thing that leads him to saving some time and money, that’s a huge win for us and helps them to focus on their lives. It’s embarrassing if someone opens the site and looks at the top couple headlines and just…eh. We haven’t appealed. We haven’t done our job. I would rather have zero stories in a day than 10 fluff stories.”

B.A.S.H.H. started as a small collection of early Twitter users who had befriended one another online and decided to meet up in person. Bailey calls it “a room full of introverts.” It was Benn Rosales’ idea to formalize it, and it has grown into an event that draws hundreds of people every month to network and hang out. It still has that core group, but has expanded into other events, like the BizBashh, connecting job seekers and recruiters.

“It has been our mission to more meaningfully connect people online by taking them offline, both socially and professionally, all the way down to helping people all the way back in 2008 to find jobs through our personal connections, which was essentially the birth of ADJ,” Benn said “We knew we had to do something more long-lasting to help Austin to maintain its talent.”

“Several startups have been created there,” Rosales said, “Businesses, marriages…” It often happens, she said, that a new transplant will arrive in Austin and be instantly welcomed and introduced to B.A.S.H.H.ers networks. “Everybody has their arms open when you come to the city…it’s part of the Southern hospitality. Nobody is from here so they’ve all had that experience of having to come here and rebuild.”

The only downside, the weakness of Austin, she said, is that while people will introduce you to everyone in their networks, they often hope for you to do work for free, which is “not kosher.”

The Story of Lani and Benn

Lani Rosales, photo by Susan Lahey

Lani Rosales, photo by Susan Lahey

Rosales IS from here. She grew up in Austin and planned to be a journalist in high school. But when assigned her a story about a student who wasn’t expected to live to graduation, she balked. “It felt cheap and salacious and extremely invasive,” Rosales said. In that case, her teacher told her, she’d never make it as a journalist. So she switched to English. Her father had a rule that if she stayed in Austin for college she had to study abroad, so she spent two semesters in Spain, studying at the University of Salamanca—founded in 1134. When her school session was done, she asked for a little more money from family to get a trip to Italy and was told she had made “the last withdrawal from the family bank.” Fortunately, she had a ticket to get home but arrived broke and directionless.

She met Benn at a Starbucks they both frequented, and, she said “We’ve been inseparable ever since.” He had moved to Austin from Oklahoma to work for Apple, with a background in upper management, marketing, public relations and UX and UI. But when his brother needed help with branding and marketing his real estate firm, Benn wound up making that his full time gig. He hired Lani to help with marketing.

She says, almost apologetically, that they’re one of those “disgustingly in love couples.” She’s the public face of the company. He’s the boss.

“Part of our secret is that we decided early on who is the boss, and who takes responsibility for failures, which removes the power struggles that hold most couples back from working together,” Benn said. “Lani is the yin to my yang, and vice versa, especially with fleshing out ideas.”

The couple has had several major blows over the last 10 years. In 2005, they learned they were expecting a child, but Kennedy had several major health issues and was stillborn. Two years later, Lani’s brother Aaron, her “best friend outside of my marriage” was killed in a car accident. And in June, Benn, whose family has a history of heart disease, was told he needed an emergency quadruple bypass.

For a long time, they didn’t share the loss of Kennedy with anyone but close friends. But by the time of Benn’s triple bypass, because of the kind of friendships they’ve built in the community, they felt like it would be a betrayal not to share. Because Benn’s heart condition is genetic, Lani said the “super long term plan” is that he would not have to work and she could go write in a cabin someplace.

Benn– who stood outside Rattlesnake Inn at the November BizBashh, sardonically wondering why someone hadn’t filled in the last open space between two buildings—said their mission is really about the preservation of Austin.

“Our long term contribution is in the conservation of Austin as it is. Although it may remind people of California, it is NOT California. It isn’t SXSW. It isn’t a lot of things people think it is. It’s a home away from home, it’s a place people call home. It’s wonderful people. It’s beautiful hill country and lakes, it’s a small town and it is a natural wonder that doesn’t really need to change to be special.”

So there Bitches!

Experiment Engine Gets $1 Million in Seed Funding

Claire Vo, co-founder and CEO of Experiment Engine, photo by Laura Lorek

Claire Vo, co-founder and CEO of Experiment Engine, photo by Laura Lorek


Austin-based Experiment Engine announced Tuesday that is has closed on a $1 million seed funding round.

The company received funding from Founder Collective, based in New York and Boston, Mercury Fund in Houston and Austin Angel Investors Dan Graham, CEO of BuildASign and Rony Kahan, Co-founder of Indeed.com.

Experiment Engine, which recently graduated from the Austin Techstars program, offers a software as a service web and mobile platform that allows companies to test different versions of their products. The testing is known as A/B test as it compares two different versions of a website, mobile application or other product to Experiment Engines marketplace of conversion experts. Those experts provide “ready-to-test page versions that are shown to live traffic for Experiment Engine’s customers.” The customers determine which is the best version.

“By providing on-demand access to skilled conversion rate optimizers, Experiment Engine has helped early customers triple tests run per month and drive conversion gains averaging 20 percent,” according to a news release.

The company plans to use the funds to expand its platform and on sales and marketing.

“Having run hundreds of A/B tests over our careers, my co-founder and I have a first-hand appreciation of the true impact continuous optimization delivers,” Claire Vo, Experiment Engine’s CEO and co-founder, said in a news release. “By closing this seed round, we have the resources to accelerate our business and deliver our optimization solution to marketers who want to truly ‘Always Be Testing.’”

Upland Software Acquires Solution Q for $5.8 Million

156956LOGOAustin-based Upland Software has acquired Toronto, Canada-based Solution Q for approximately $5.8 million and plans to retain all of the company’s employees.

It’s Upland Software’s seventh acquisition in three years and is part of the company’s overall strategy to expand its products and services, according to a news release.

Upland, which has 340 employees, plans to retail all of Solution Q’s employees and management.

The acquisition broadens Upland’s Entreprise Work Management software products by adding Solution Q’s Eclipse product line geared to midsize organizations. Solution Q’s Eclipse customers are in the healthcare, education and financial services industries.

“We’re very pleased to welcome the Solution Q team to the Upland family,” Jack McDonald, Chairman and CEO of Upland Software, said in a news release. “This acquisition adds another built-for-purpose product to our family of cloud-based Enterprise Work Management applications and represents the latest step in our commitment to making Upland Software the global leader in this category.”

Upland, which recently went public and is traded on the Nasdaq under the symbol UPLD, provides cloud-based Enterprise Work Management software.

BikeTexas Teams up With Spinlister

imgresSpinlister, the peer-to-peer bike sharing service that launched in Austin last month, has signed a deal to sponsor BikeTexas, an organizations that encourages and promotes bicycling.

Spinlister plans to help BikeTexas with marketing and logistical support for its new BikeTexas parking and valet programs. It plans to offer the services to event organizers to promote bicycling in Austin. BikeTexas is also listings its fleet of 150 bikes on Spinlister to raise funds.

“With Spinlister’s support, we’ll be able to build a sustainable bike parking and bike valet program to serve the local community. These new services, along with the revenue expected from our rental fleet, will help fund our initiatives to create positive change in Austin for generations to come,” Robin Stallings, the Executive Director of BikeTexas, said in a news statement. “Now, when travelers come to Austin they will not only be renting bikes but helping the community long after they are gone.”

Google Fiber Austin Announced 1 Gigabit Internet Pricing Plan at its New Downtown Headquarters

Mark Strama, head of Google Fiber in Austin, photo by Susan Lahey

Mark Strama, head of Google Fiber in Austin, photo by Susan Lahey


By SUSAN LAHEY
Reporter with Silicon Hills News

Google Fiber will house its Austin headquarters in the former Austin Children’s Museum at 201 W. Colorado, Mark Strama, head of Google Fiber announced Monday.

Strama said he hopes the 23,000 square foot building will be Austin’s “Living Room.” He was harking back to the opening of Whole Foods when John Mackey said the headquarters building was a “Love letter to the City of Austin.”

Google hopes to have concerts, hackathons, town hall meetings and other events in the space, which is also a DIY production studio. A giant, two-million pixel screen looms over the entrance area. It can receive up to six video feeds at once.

The coolest thing about 1 Gbps upload and download speeds is that it will change the shape of the internet, Strama said. It will become less a place from with to draw information and more of a place where anyone can share information, which means developers will have a whole new world to play in.

“A lot of the applications we have today wouldn’t have worked on dial-up (internet),” Strama pointed out, including Facebook.

Strama announced Google Fiber’s pricing plan, including one plan of $300 for construction and no monthly fee; $70 a month for a gigabit Internet service and $130 a month for TV plus, which includes access to more than 150 high definition channels. AT&T is also offering 1 Gbps for $70 a month.

The company also revealed its Austin installment van with art done by local artist Mike “Truth” Johnston.

In October the company announced it would launch in South and Southeast Austin, making Austin the second city—after Kansas City—to receive Google Fiber. It will begin taking orders in December. Strama said the company wasn’t giving a specific date because it doesn’t want to set a mark and miss it. Google originally announced its intentions to launch by mid-year 2014.

AT&T has been expanding its 1Gbps GigaPower service throughout Austin. San Marcos based Grande Communications has also been rolling out 1 Gbps in Austin.

HomeAway’s Brian Sharples’ Entrepreneurial Journey

By LAURA LOREK
Reporter with Silicon Hills News

Brian Sharples, courtesy photo from HomeAway

Brian Sharples, courtesy photo from HomeAway

As a serial entrepreneur, Brian Sharples, co-founder of HomeAway, has learned many lessons on his entrepreneurial journey.

He recounted several of them with Bob Metcalfe, professor of innovation at the University of Texas last week. Metcalfe interviewed Sharples, CEO of HomeAway at the Longhorn Startup Demo Day.

HomeAway has 1,900 employees worldwide, including about 1,000 in Austin in five locations. The company lists more than 1 million vacation rental homes in 190 countries. It went public in 2011 and has a market capitalization of $2.8 billion and its stock, listed as AWAY on the Nasdaq Stock Exchange, currently trades for around $30.50 a share.

The Early Years

First off, Metcalfe asked Sharples if he had a lemonade stand or paper route and to talk about his early entrepreneurial roots.

Sharples said he had done all of those things. And his entrepreneurial instincts came from his dad, who was an entrepreneur, electrical engineer and a pioneer in analog to digital conversion. He invented a digital panel meter. His invention is in the Smithsonian.

“He worked for himself, he didn’t have bosses, he had employees,” Sharples said.

Sharples grew up in an entrepreneurial environment in a suburb of Boston called Braintree. His family had a vacation house in Maine. He ended up attending Colby College in Maine and later got accepted to Stanford’s business school.

Grappling with Failure

Bob Metcalfe and Brian Sharples at Longhorn Demo Day

Bob Metcalfe and Brian Sharples at Longhorn Demo Day

Metcalfe asked Sharples about his biggest entrepreneurial failure.

Sharples, at 27, raised $1 million from Kohlberg Kravis Roberts
Venture Capital Fund to create a marketplace for selling used autos. He rented out Candlestick Park in San Francisco and built a huge auto sales event for thousands of people.

“It was like a rock concert for buying cars,” Sharples said.

He bet all of his money on that first event. On a Saturday, they opened the doors and by 11 a.m. a freak storm with 85 mile per hour winds blew in and destroyed the place.

“It turned from a beautiful event one minute to how do we make sure no one gets killed,” Sharples said. “People got hurt but no one got seriously injured.”

Eventually, Sharples created iMotors, a derivative of that business, and ultimately raised $120 million and was doing $25 million in revenue by 1999. But when the dot com crash happened they couldn’t sustain the business. They ended up selling the assets for $85 million to AutoNation.

Moving to Austin

So Sharples decided to get out of the auto business. He moved to Austin and got involved with IntelliQuest, an 11-employee company providing Dell with market research information. Sharples got to know the founder really well. He ended up cutting a deal where Austin Ventures and Sharples each took a third of the company. They took the company public in 1996 and Sharples ran it for four years.

“One of the things I learned from that experience is it’s really nice to have a partner,” Sharples said.

In entrepreneurship, a lot of people associate that with being the lone wolf, Sharples said. But it’s a lot more powerful if you have a partner, he said. So when Sharples decided to launch HomeAway he wanted a partner and Austin Ventures introduced him to Carl Shepherd, a merger and acquisition expert who became co-founder of HomeAway.

In 2005, Sharples and Shepherd created HomeAway, then known as WVR, a global vacation home business. The idea was to create the Expedia of vacation rentals and to acquire great businesses around the world. Raised $405 million and did 22 acquisitions in total, Sharples said.

“HomeAway took a great deal of money to create,” Sharples said. And to get that kind of money, an entrepreneur has to have a track record of success and returning money to investors, he said.

The IntelliQuest Initial Public Offering and later sale to WPP Group made about a 25 times return on Austin Ventures investment, Sharples said.

“Once you’ve succeeded like that for investors, investors like to back people who have done it before,” he said.

Founding HomeAway

Austin Ventures agreed to back HomeAway for $50 million initially and they issued a press release saying they had given Sharples $50 million for a new venture. That check made people listen to them, Sharples said.

Sharples and Shepherd hired McGarrah Jessee, an Austin-based Ad Agency, to come up with the name HomeAway. The owner of the website domain name ended up being an RV park owner in the United Kingdom. They were able to negotiate with him and buy it, Sharples said.

Originally Sharples thought they would buy vacation properties around the world and rent them to club members. But through his research, he found there were 7 million homes alone in Europe for rent. It was a much bigger market. So they decided to build a platform and make the properties available to book online.

Before doing the platform, Sharples and Shepherd spent four months doing research on the project. They found out Expedia paid $73 million for a company that had the same model as HomeAway and a year later it was gone. So he met with Rich Barton, the CEO of Expedia, in Seattle and he took them through the entire deal. Expedia tried to turn the business into a hotel business. The homeowners viewed their homes as their personal property and they wanted to talk to people and they didn’t want to do everything online. The conversation was critical.

Within the next two years, everyone in the HomeAway marketplace will become online bookable, Sharples said. The marketplace has changed. It wouldn’t have worked ten years ago, or even five years ago, but it works now, he said.

Thinking About Worst Case Scenarios

Bob Metcalfe at Longhorn Startup Demo Day

Bob Metcalfe at Longhorn Startup Demo Day

Metcalfe pointed out that the Longhorn Startup class instructors teach their students to fail fast. But Sharples, he said, studies others who have failed and seeks to avoid the failure altogether.

Because of his first failure in the auto business, Sharples said he became paranoid and studied all the things that could go wrong in his next ventures.

He advised other startup entrepreneurs to study others, study worst case scenarios and think about risk.

“People spend so much time in their pitches on how everything could go right, they need to devote a little more time and scenario planning on how they could go wrong,” Sharples said.

For example, HomeAway bought Vacationhomes.com in the U.S. for $40 million just to prevent a competitor from buying it, Sharples said.

“We don’t just study failures of other companies, which we did in the early days, but we calculate all the ways we could fail and we try to prevent them,” Sharples said.

Sharples favorite recruiting question is to ask job candidates to talk about something they’ve failed about in their life. And the second question he asks is what did they learn from it.

He also looks for humility in his employees.

“I just don’t have the patience for ego,” Sharples said. “I think it sets up a horrible dynamic within a company when people are operating for personal gain or personal showboating. I’m all for being super competitive. But within a team, you can’t be super competitive. Building a company is a team sport.”

The introduction song for Sharples when he entered the stage was Rusted Root’s “Send Me on My Way,” which he says they may use in their next commercial campaign because it sounds like HomeAway.

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