Liat Clark, Deputy Editor on WIRED.co.uk recently interviewed reportbrain’s President, CEO and Co-Founder, Alex Kostopoulos about the global Greek startup community in the July 10, article, Greek startups admit they must survive together, or die alone
“Greek startups are being forced to put funding deals on ice, pay employees in cash and use foreign credit cards to fulfil debts, a WIRED report has concluded.
In spite of this, there is a remarkable and enduring optimism around one fact: the global Greek startup community can save itself.”
The startup community is operating at a kind of halfway point today, surviving through a combination of emergency (the government provided free public transport in the past week) and pre-planned measures.
“The vast majority of the startup community in Greece was not caught by surprise,” says Reportbrain’s Kostopoulos. “Startups have taken measures to deal with the instability in Greece long before the referendum.”
“We anticipated this for years and have prepared in advance. We’ve established operations in the UK and do all our business out of London. This course of action proved to be the single most important business move we did so far to protect our growth… Most have also incorporated abroad, namely in the UK or the US.” Reportbrain was protected, banking in the UK and US, switching to annual payment plans so all proceeds had already been received months ago, and paying tax in the UK — it means its Greek employees will not need to relocate in future; their paycheck is secure. It is, however, not chasing customers in Greece anymore.
Read the entire article on Wired UK