We were lucky to find out about TrustRadius the enterprise software comparison site founded by Vinay Bhagat
through a search we were doing for clients. As a result, we got in touch with them and secured an interview.
Why did you start TrustRadius?
We’re trying to change the way software is bought and sold. If you’re a consumer who wants to buy a product or service there’s a wealth of information out there. But if you’re trying to buy a piece of technology which could have a huge impact on your career, or business – it’s more challenging; more opaque.
Technology marketers try to control the information flow a customer gets.
Our belief is that through a platform like TrustRadius we can give buyers a more authentic, rapid way to make smarter decisions. It’s not just picking the right product – it’s the right product for your use case.
Every business has unique needs – on TrustRadius you can crowdsource different perspectives about the context around the problem the business is trying to solve. This allows the user to made a more informed choice.
This isn’t trying to provide all the answers. TrustRadius is a layer to get intelligent and get insights, way to avoid mistakes. It’s more than a content layer, it’s a way to allow people to connect with each other. a contextual social network.
What are the issues with other solutions?
The Gartner magic quadrant is not appropriate for everyone.
We have a user who contacted people through the site and did information exchanges to get to the real story behind their tech selection and purchase.
People have tried to do backchannel references for years – it’s hard to get peer input rapidly at scale.
Reviewers have authentication – and we use Linked In – in connect button to verify identities.
What’s your business model?
Today we are not focused on making money – we’re trying to create a trusted at scale network – as a young company we
have to concentrate at this. If we can wedge ourselves between the buyer and seller its a $4trilliion marketplace. We bootstrapped for 1 year and now have raised VC money last June – we maniacally focus on getting to scale through effectively recruiting reviewers, sourcing content and engaging vendors. Read more