IntraBase Says Farewell

With June 1st 2017, IntraBase will conclude operations - here we take the opportunity to summarize our thoughts and say goodbye.

Sasan Hashemi, Jakob Etzel, Jan Michael Auer, Richard Knoll

We started IntraBase back in November 2016 with the goal to build “great” products. We had no revenue streams, no sales pipeline and no table tennis. Our friends told us that we were crazy to leave great paying jobs to take a leap into the unknown.

Despite all of this, we knew that if we worked together as a team we could make it. We could build a tech first company which attacks and solves hard problems. We began our journey leveraging various hackathons as a door-opener into the German speaking financial industry. Below you can see our results, all in our first two months of operations:

1st Prize

Figo Bankathon

2nd Prize

Deutsche Bank API/OPEN

3rd Prize

Sparkasse Symbioticon

Tech Award

Zurich InsurHack

These gave us our initial exposure which led to getting hired for agency work. Our unique combination between product design, software development and data science proved to be convincing.

Within weeks we were completely booked out with a wide range of services including building prototypes for rising startups, consulting corporates on their product roadmap and solving data science problems from conception to execution. We understood the context of a problem within short period and had mostly the building blocks to solve it by our own. We felt like some kind of “special forces”.

Being Good At Something Is Not Enough

Starting IntraBase, one of our most important goals was to create an environment where people love to show up every morning. In retrospective, this meant for us:

  1. Keeping the quality of the team high – great people want to work with great people
  2. Don´t make any compromises on the quality of the output
  3. Give our activities purpose through pursuing a clear and aligned vision

We were successfully able to fulfil the first two aspects during our operations but unfortunately we failed on the third. Although we were booked out and revenue streams were stabilizing something happened: we had lost sight of the vision.

This was due too many factors, but mainly realizing that the picture we were trying to paint was a different one than what originally motivated IntraBase in the first place. Hence, ending the operations was the logical step we had to take - even though profitability was given from the very beginning. We are happy to do this rather earlier than too late.

We don’t regret going through this journey as it was the only way to identify what each and all of us as a team want. It is easy to fall into the trap of postdiction, that believing that it should have been predictable from the beginning afterwards. However, most of the time it is not, you can only know if you try. If we can give one advice to future entrepreneurs it is that good things will eventually happen if you push hard – they will most definitely not if you don´t.

Thank You

Finally, we want to give out a big thank you to those who supported us during our journey. It wouldn´t have been possible without you. Our clients who trusted us despite our unconventional approach, our advisors who remembered us about the importance to stay humble and our families who showed us a huge amount of sympathy.

See you soon,
The IntraBase team