[MUSIC] It gives me great pleasure today to welcome onto our set, Claus Moseholm. Claus is the co-founder of GoViral, a wonderful business that probably none of our listeners have ever heard of, but that has an incredible story. So Claus, first thank you so much for coming. >> Thank you. >> And I want to start by a short conversation about this idea of bootstrapping that we hear so much about today. Bootstrapping and customer funding, do those two words mean the same thing? Do they mean different things? kind of what's your take on all that? >> Well they are definitely closely related, because if you're bootstrapping that means you're not taking any external capital into your startup, at least initially. And then you do require funding from elsewhere, which means clients, I guess. There's other ways of getting money [LAUGH]. >> [LAUGH] Yeah. >> But the most natural way is, of course, through clients. >> Yeah. So you and Balder Olrik, when you started GoViral back in 2003, sort of had this idea that the web ought to have video for advertisers. Would you tell us about sort of the problem that you saw, and how GoViral got created? >> Yes, so when we stared the company back in 2003, it was early days for the internet, sort of, and Balder, my co-founder, he had been working on Internet marketing in a web agency that he had built himself. And he saw that some campaigns worked very well and most campaigns didn't work very well in terms of generating consumer engagement. And he dived into that topic and realized that it came down at the end of the day to content, so whether the advertiser was actually creating interesting content for the consumers to engage with. And that's kind of how our business started, from the premise of trying to create campaigns that was actually worthwhile engaging in. >> And that's the whole viral phenomenon was and is about content that consumers are so engaged with that they actually decide to share it. >> Send it to somebody else. >> Which is quite phenomenal for advertising and for content in general. >> It's the holy grail. >> It is, it is very difficult. But that's where we started, focusing on trying to create campaigns that consumers actually wanted to spend time on. >> Yeah, so you've got this sort of loosely framed idea that you can do this. So what were the first steps you took? >> So the first steps we took was to create a campaign for a client. >> Mm, you found a client? >> We found a very brave client [LAUGH] and created a very naughty video. [LAUGH] With a bulldog and a naked man and then you can imagine the rest. [LAUGH] No, so it was an internet startup, an antivirus startup called BullGuard, which was founded by a friend of us. The first two free campaigns we created was actually for BullGuard, where we created some explosive content that reached millions of consumers around the world. And that's how we got going, actually, by doing that, creating some really good content and then trying to get it out there in sort of a manual way with no technology really. And just, yeah, doing our best. >> And so you created a few campaigns for BullGuard. >> Yeah. >> And they kind of worked, right? They got lots of views. If that's the measure, they worked. >> Yeah, they kind of worked in the way that we got millions of eyeballs. They didn't actually pay us anything. >> That's the small detail. >> Yeah. [LAUGH] So we were working on the side as consultants for some big corporates and that's how we funded the whole first year of our company, by doing consulting work elsewhere. >> Mm-hm. And when did you get your first sort of paid assignment? >> We did that in I think 2004 for another IT company, where we created a campaign that was also quite successful. >> Equally naughty or this one a little more? >> At best naughty, still provocative, [LAUGH] certainly with some S, and that was a quite interesting campaign actually. And it worked quite well, and we got paid some real money for that. So I think in 2004 we did a little bit of revenue, not a lot, but a tiny little bit, yeah. >> Why did these companies agree to pay in advance for a product that they couldn't be sure was going to deliver from a business that was two guys in a garage in Copenhagen? Why would they pay you? >> Because I'm a good sales guy. [LAUGH] >> [LAUGH] There's more to the story. >> We were real good at selling, we were good at packaging. We were good at also kind of identifying something that the customers wanted to buy into and giving them the opportunity to explore a new way of doing marketing. And also quite early on we framed our business around a guarantee, so in 2000- >> So you would guarantee the views they would get? >> Yeah, we would guarantee video views, so we decided that in 2005. And that was kind of the breakthrough of the company, that we, instead of just showing them example of previous work where we generated millions of views here and there. We went in and guaranteed them a certain amount of video views for the budget they were able to allocate. And that allowed them to get some security but also to compare this type of activity with other kinds of media and magazine activities. >> And so if you guaranteed, let's say, two million views and you delivered three million. >> That was just good for them, an upside for the clients with really good content, yeah. >> Nice deal. >> Yeah, yeah, definitely. >> Yeah. And when did you know you were onto something that could be much bigger? >> Mm, I would say not until Jimmy joined. I mean, we knew we wanted something interesting, but Balder is a creative inventor and kind of not a business man at all. And I was also very much into this for kind of he intellectual part of it or, I liked the idea about creating interesting content. And so we didn't actually have a plan of building a big business, but then Jimmy came along and he was kind of framing a much bigger vision for the company in terms of of taking it to a different level. So, that's when we set the ambitions, I would say. And I would also say, at the same time, they didn't seem very realistic at that time [LAUGH]. >> You thought Jimmy was crazy, as a matter of fact. >> I won't say he was crazy, but. >> [LAUGH] Ambitious, to say the least. >> Ambitious. So in 2005 we did around 100,000 pounds in revenue totally for the year. And Jimmy came along in December and said that we should aim for 1 million the following year and build a 10 million pound company. That sounds a little bit outrageous when you are two guys in a garage and with 100,000 pounds in revenue. >> [LAUGH] >> So it didn't seem that realistic, I would say. >> Yeah. >> Ambitious, but yeah. [MUSIC]