ADAM BENAYOUN

• Adam Benayoun''s educational background seems to include only an animation and media course.
• This might be a watch-out as his jobs typically require knowledge in business management, computer programming, finance, logistics, legal, and other expertise.
• Adam Benayoun and Eran Galperin both founded Binpress in 2010.
• Binpress is a "marketplace for open-source code" where developers can purchase or sell source codes.
• Binpress was eventually acquired by CodersClan on June 20, 2016.
• According to Mr. Galperin, he and Adam failed to reach their vision for the company due to some factors that they initially failed to see.
• He further stated that they did not realize at first that the marketplace format was not suitable for the types of products that they had. Majority of their clients were only one-time buyers due to their focus on premium products with higher costs.
• Mr. Galperin also stated that peddling their codes to developers can be likened to offering ice for sale to Eskimos.
• They realized that their target customers will opt to dedicate more hours to build a code rather than shell out more money on off-the-shelf source codes.
• They also came to the conclusion that transforming an already known brand is difficult as Binpress was already widely known as a code marketplace. Increasing their product lines would require them to build another set of target customers from the ground up.
• The founders also made a mistake of doing the marketing and sales tasks themselves even if they don't have a marketing background. They realized later that they need someone who is focused solely on this important work.
• Overall, they eventually learned that they became constrained by the framework of the company as it did not have the scale that they initially planned.
• Furthermore, any movement to venture into new territories was done too late to really have a positive impact.