EveryMatrix Co-Founder and Co-CEO Ebbe Groes has opened up about the company's brush with bankruptcy during a recent appearance on the iGaming Leader Podcast with host Leo Judkins.
From Garage Startup to Market Leader
Groes detailed EveryMatrix's journey from its 2008 garage origins to becoming the world's largest casino aggregation platform, achieved without massive venture capital backing. The executive highlighted the particularly challenging period between 2015 and 2017, when the company nearly exhausted its cash reserves.
EveryMatrix Company Background
Founded in 2008, EveryMatrix grew from a garage startup to become the world's largest casino aggregation platform without relying on massive venture capital backing, demonstrating the viability of bootstrapped growth in the competitive iGaming technology sector.
Crisis Management and Survival Tactics
During this survival era, the entire team accepted massive salary cuts to keep operations running. Groes also revealed unusual efficiency measures, including ringing a bell during meetings to maintain focus and productivity.
The podcast explores Groes' recent decision to appoint his brother as co-CEO, positioning the move as part of building a multigenerational legacy for the B2B platform provider. This approach contrasts with EveryMatrix's consultative approach that has driven partnership growth across multiple markets.
EveryMatrix's near-bankruptcy experience between 2015-2017 showcases how B2B iGaming companies can survive cash flow crises through radical cost-cutting and team commitment.
Strategic Implications for B2B Growth
Groes' experience demonstrates the viability of bootstrapped growth in the competitive iGaming technology sector. His comments about the "law of large numbers" affecting VC relationships highlight the ongoing tension between rapid scaling and maintaining founder control in the B2B space.
Bootstrapped Growth Strategy
Groes' comments about the 'law of large numbers' affecting VC relationships highlight the ongoing tension between rapid scaling and maintaining founder control in the B2B iGaming space, suggesting that bootstrapped growth remains a viable alternative.
According to EveryMatrix.
