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>>GERRY: IT'S TIME NOW TO GOINSIDE INNOVATION BROUGHT TO YOUBY DMI.IT IS ONE OF THE FIRST TECH

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COMPANIES IN BLOOMINGTON TORAISE VENTURE CAPITAL FROMOUTSIDE SOURCES.CHEDDAR HAS ATTRACTED A $1.25

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MILLION ROUND OF SEED FUNDINGFROM MULTIPLE FIRMS.FOR MORE ON HOW CHEDDAR ISTAPPING INTO THE FUTURE OF

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BILLING...AND PLANS FOR NEWJOBS...I'M PLEASED TO BE JOINEDBY CEO MIKE TROTZKE.WELCOME TO THE PROGRAM.

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>> THANKS FOR HAVING ME.>> IT'S INTERESTING HOWCHEDDAR STARTED.BUT YOU ACTUALLY SPROUTED OUT OF

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SPROUT BOX.TALK ABOUT THAT.>> I'M A COFOUNDER OF SPROUTBOX AND WE BUILT A NEW WEB-BASED

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APPLICATION OR MOBILEAPPLICATION EVERY THREE MONTHSAND WE QUICKLY FOUND WE COULDNOT SPEND TWO OF THE THREE

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MONTHS BUILDING A NEW PLATFORM.SO CHEDDAR WAS REALLY A LIBRARYAND BECAME AN API AND I'M ACOMPANY WE LEVERAGE AND SORT OF

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A SECRET SAUCE TO BE ABLE TOVERY, VERY QUICKLY BUILD A NEWSOFTWARE COMPANIES.>> SO IT'S BEEN VERY

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SUCCESSFUL AND, AGAIN, SPREADINGNEW COMPANIES.TALK ABOUT CHEDDAR AND YOURFUNDING AND TALK ABOUT THE

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BUSINESS MODEL.>> WE ARE BUILDING AN API SOWE FOCUS ON HELPING OTHERSOFTWARE COMPANIES MONETIZE

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THEIR PRODUCTS AND WE DO THAT INA UNIQUE WAY.OUR SYSTEM IS USAGE -BASED SOINSTEAD OF LIKE THE TYPICAL

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INVOICING AND BILLING YOU TELLYOUR BILLING SYSTEM BILL GERRY$40 ON TUESDAY OUR SYSTEM ISDRIVEN AROUND USAGE SO THE

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REAL-TIME CONNECTION BETWEEN THESOFTWARE PLATFORMS AND WE ARETRACKING A USER OR DELETED AUSER WITH TRACKING ALL THAT

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INFORMATION WE TAKE ALL THEMONETIZATION AND THE TIME ITTAKES FOR A COMPANY TO BUILD ABILLING SYSTEM BY SOMETHING LIKE

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9 PERCENT, WHICH IS VALUE ADDED.>> YOU GAIN TRACTION HERE.1.25 MILLION IN SEED FUNDINGFROM SEVERAL MIDWEST FIRMS.

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AGAIN AS I MENTIONED IN THEINTRODUCTION, ONE OF THE FIRSTFILMS TO GET THAT OUTSIDE MONEY.>> WE ARE SUPER EXCITED TO

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HAVE A COALITION OF MIDWESTINTER- FUNDING.AND YOU KNOW WE HAVE RAISED SOMEMONEY AND IT'S BEEN QUITE A

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WHILE SINCE SOME OF THE BODY HASPUT TOGETHER AROUND THAT COMESFROM CHICAGO'S, ST. LOUIS,CINCINNATI INVESTING IN US AS

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INDIVIDUALS BUT LOOKING AT THEBUSINESSES AND RECOGNIZING WECAN DO IT VERY QUICKLY.>> WHAT WILL THIS ALLOW YOU TO

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DO?I KNOW YOU WANT TO ADD PEOPLE.>> WE ARE A SMALL ORGANIZATIONRIGHT NOW BECAUSE WE ARE

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SPINNING OUT AND REALLY BRINGINGTO MARKET SO WE ARE DOUBLINGTHIS RIGHT AWAY, BUT WE AREHOPING TO GET TO 12 OR MORE OVER

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THE NEXT 12 MONTHS.>> WHAT GROWTH OPPORTUNITIESTHAT WE WRAP UP GOING FORWARD INFIVE OR 10 YEARS, WHERE DO YOU

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SEE CHEDDAR?>> BILLING IS A NECESSITY FORALL SOFTWARE SERVICE COMPANIES.OUR FOCUS ON USAGE -BASED

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BILLING IS REALLY TAKING OFF SORATHER THAN A FLAT MONTHLY FEEAND ONLY BEING ABLE TO DO THATBEING ABLE TO TRACK AND BUILD

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CUSTOMERS IS SOMETHING THAT ALLCUSTOMERS ARE LOOKING TO DO ANDWE ARE IN A PERFECT POSITION TOLEAD IN THAT SPACE.

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>> CHEDDAR, BLOOMINGTON BASEAND 1.25 MILLION IN VENTUREFUNDING.