Many a time, tech founders share bits and pieces of their startup struggles and while a number of them sound the alarm that being a tech bro is not all roses and series funds, not many failure stories make it to mainstream media.
For Nigerian-born Sam Udotong, co-founder and CTO of Fireflies.ai, a venture-backed speech to text transcription startup, running a tech startup is a constant roller coaster. The highs can be high, and the lows can be low. Reminiscing on his journey of running Fireflies with co-founder Krish Ramineni, Udotong said he moved to San Francisco with only $100 in his pocket; skeptical about what the future held for him.
Udotong studied Computer Science and Aerospace Engineering at MIT, and after he graduated, he refused to apply for work in highbrow tech companies even when he knew he could make $150,000/pa with endless perks and longer-term benefits. Instead, he took it upon himself to see his Fireflies dream to fruition.
Fireflies kickstarted as an online food delivery app for students, enabling the feasibility of bitcoin payments. Sadly, its snail speed attention yielded slow profits; making the recovery of the capital invested a very distant possibility. Nonetheless, Udotong pressed on, even if it meant eating only three slices of dominos and a bottle of Soylent daily while working 15 hours every day from free co-working spaces. He was on a shoestring budget and coped by learning to dislike food, travel, nature, and anything that cost money. A bit depressing you would think, but with supportive friends by his side, it was easier to navigate the footwork to achieve his dreams.
Today, after pivoting seven times, Fireflies.ai has metamorphosed into a tool that transcribes video meetings into notes. Udotong and his co-founder have raised $14 million from Canaan Partners and Khosla Ventures, investors who see the value in Fireflies.
Udotong used to shy away from sharing his failures but has begun embracing his diamond in the rough story saying, “for all of you slogging it out, I feel you. There are way too many things to do, and sometimes it can feel like you’re just running in a circle. Also, there is a lot that is out of your control. Inevitably, there will be a ton of luck involved. I believe that you should worry about what’s in your control and continue to put yourself in places where success can find you.”
Udotong also doubles as a guest lecturer at Stanford for an introductory artificial intelligence class. He has also been awarded the AIAA Twenty 20s award. He fondly refers to himself as an ideator, a growth hacker, and an executionist who finds passion in helping others pursue their passion.
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