Intensely focused on building a software company
This week Adam talks with John-Daniel Trask, co-founder & CEO of Raygun. Raygun is an award-winning application monitoring company founded by John-Daniel Trask (better known as JD) and Jeremy Boyd in Wellington, New Zealand. They have revenues in the 8 digits annually, and have done it with very little funding (~1.7M USD). Todayâs conversation with JD shares a ton of wisdom. Listen twice and take notes.
Matched from the episode's transcript đ
John-Daniel Trask: Yeah, so we actually didnât start off there. We started off building some other software development tools⌠And you know, this was where things actually got murky, because my vision for my future was to own a software business. I didnât actually know what it was gonna do. In a weird way, my goal, my purpose to be the owner of a software company had been with me for about 12-13 years at this point⌠And once I got there, it was kind of like âHey, hang on a minute⌠Now what do we do?â All this time thinking about this, and I kind of got to this pointâŚ
So we actually muddled around for a few years, building different things⌠They were liked products; we could wipe our own face. The business was making money, which was good. But we also did some â we bootstrapped the business, so we did consulting work⌠We actually had Microsoft New Zealand come to the party on day one of founding our company and give us a quarter of a million dollar contract. And that was really our seed capital.
We built some software for Microsoft that demonstrated how teams should build modern web apps, and they used that as demoware around the world. Now, that actually came out of the relationship that Jeremy had built with Microsoft New Zealand. And this goes back to your point of who you associate with, where are you investing your time. He was putting a lot of his time into supporting the local software development community, running user groups and all of that⌠So he was well-known and well-liked, and generally appreciated in the local software community. Surprise⌠It worked out for us.
And to use that famous Steve Jobs quote, âYou canât connect the dots looking forward. You can only connect them looking back.â Jeremy wasnât supporting the community because he wanted a deal out of it; he was doing it because thatâs what he loved to do, and then this positive came. So he had actually put in not expecting anything out, and then got something out of it. And that was hugely valuable to us.
[27:49] Over those few years we also partnered up and built other companies. So we were fairly well-known as being a pretty good software development team, high-performance software, good outcomes⌠But we took equity in those companies. So we built New Zealandâs largest philanthropic website as the technical partner, where we owned a part of that; we built a business valuation SaaS company, we build an email mining software company⌠We did a few things like that on the side. That was all good.
In 2012 we decided we were gonna build the error tracking software, and that we were gonna call it Raygun. Now, our company at this point had actually been called Minescape⌠And Iâll tell you want - nerds naming companies, man⌠How did we come up with the name? I mentioned we had three founders at the beginning⌠And we basically all just came up with these names, put them in an Excel file, ordered them, and them we all scored them one to ten, and then we added those three rows together and sorted the sum, and then we just went with the top one, which was Minescape.
And I remember there was this one right down the list, Raygun⌠And I just remember thinking â well, it was actually Railgun, but anyway⌠It was from JB, and I just remember thinking âThatâs the stupidest name for a company Iâve ever heard of.â [laughter]