Eloqua CEO: “We Had $200k in Bank Day Before IPO”
December 12, 2012 Leave a comment
Talk to most entrepreneurs, and you’ll likely hear incredible stories of near-death experiences. I can’t think of one entrepreneur I know who hasn’t stared failure in the face (in some cases, multiple times). It’s scary, sometimes nearly incapacitating — but you somehow find your way through and life goes on.
Here’s an anecdote to remember next time you’re feeling down: Eloqua (who happens to a quasi-MindFire marketing automation competitor), had a successful IPO in August of this year (they raised $92 million).
But according to Bill Flook of the Washington Business Journal, Joe Payne (CEO) reports that they only had $200k in the bank the day before going public. Holy cow!
From looking at Eloqua’s SEC filings, I don’t think they were in any near-death situation, but it just goes to show that to be an entrepreneur, you need guts (and tons of help — it’s very difficult to do on your own).
Kudos to Joe Payne and the entire Eloqua team for their continued success. Here’s the full article on the Washington Business Journal.
What about you? What near-death experiences have you had? Do you agree that nearly everyone goes through them?