This Entrepreneur Raised $75 Million To Unlock Data-Driven Insights In Real Estate With AI
L.D. Salmanson is a repeat entrepreneur who has been through spinoffs, acquisitions, and is now building his biggest company yet. On the Dealmakers Show Salmanson talked about starting his first company at 13 years old, spinoffs, the three boxes you need to check to raise capital from VCs, the number one differentiator between founders and others, real estate data, and crashing the New York Stock Exchange.
L.D. Salmanson is a repeat entrepreneur who has been through spinoffs, acquisitions, and is now building his biggest company yet.
On the Dealmakers Show Salmanson talked about starting his first company at 13 years old, spinoffs, the three boxes you need to check to raise capital from VCs, the number one differentiator between founders and others, real estate data, and crashing the New York Stock Exchange.
Listen to the full podcast episode and review the transcript here.
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Starting Your First Company At 13 Years Old
L.D. Salmanson was born in the little state of Rhode Island. Then, still very young, his parents decided to move the family to Israel.
He spent most of his youth growing up in Jerusalem. A very diverse city. A melting pot of so many cultures and religions, where you end up knowing everyone in your age group, no matter what their background.
Salmanson says he enjoyed the education system there. Which may have been a lot stronger than it is today.
He lived there when the Iron Curtain came down, and the county saw a massive influx of 1.5M Russian immigrants in the space of a year. It brought in a lot of highly talented professionals and educators. It was during this time that he also met his serial cofounder Ben.
Together they began fixing computers at just 13 and 14 years old. People started paying them for it. Which pretty quickly turned into a big business. They added onto that with building and translating websites to and from Hebrew.
Unfortunately, having to go into mandatory military service meant they had to sell the business. There are exemptions for some academics and athletes, but not for entrepreneurs and founders running a successful company. So, they just had no choice but to sell and merge that venture with another business, and let go.
While serving in the military his friends had been working on a HR company. One that they had been scaling very successfully in highly regulated industries. Including the Olympics, railroads, and aviation.
The software they created in the process turned out to be very valuable. They spun that out into its own company, and then sold it to a larger HR software firm.
At this point Salmanson wanted to declare himself retired. Though still just being 28 years old he figured he needed to find something else to do with his time. So, he pursued his dream of attending Wharton for his MBA.
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