EP #446 - Fabio Ronga: The Hard Road to a $300M Valuation

Timestamps:

5:20 - Workaholics having fun

15:35 - Market validation

33:33 - Why Switzerland is the best headquarters

46:19 - Instilling company values

54:30 - Selling 100% of your shares

About Fabio Ronga:

Fabio Ronga is the co-founder and CEO of beqom, a cloud-based compensation management solution. He holds a master's degree in Business Information Systems from HEC Lausanne and previously worked at Hyperion (bought by Oracle) and Outlooksoft (bought by SAP) before starting beqom in 2008.

Together with his co-founders (including Tanya Jansen and Stephan Pohl, who are still active in the company), Fabio built beqom to solve HR problems he himself had encountered earlier in his career. Serendipitously enough, someone Fabio used to know from Hyperion was on the board of a French company who had built the exact tech that Fabio and his co-founders needed, but was using it for different purposes. beqom was born out of a partnership with that company. Later on, when beqom was coming into its own, it merged with this French company.

beqom started out with Swiss headquarters and maintains them to this day. Fabio thinks this helped them be global-minded about their product building from day one: since Switzerland is such a linguistically and culturally fragmented country, Swiss founders cannot rely on their domestic market to keep them in business, like US companies can.

In 2022 beqom received a strategic investment of USD 300M from Sumeru Equity Partners. A few years prior, beqom had received another investment from Goldman Sachs, in exchange of which they promised a favorable exit scenario — this was their motivation for the 2022 Sumeru investment.

The cover portrait was edited by⁠ ⁠⁠⁠⁠⁠⁠⁠www.smartportrait.io⁠⁠⁠⁠⁠⁠⁠⁠.

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