Storied Data - Visualizations, data and web content without limits

Company: Storied Data Inc.

Representative: Aleksandrina Ivanova

Position: SVP EMEA

How would you explain your business in one sentence to your grandmother?

We help companies deliver any type of information as data products and data apps.

Just as the brothers saints Cyril and Methodius once created and spread the alphabet, we have now created a new way to access and distribute information conveniently and freely.

Where did the idea come from and what problem does it solve?

Fifteen years ago, managers demanded easier, more tailored, and cost-effective BI solutions. They wanted to distribute BI to clients without requiring any additional software or tools. The analogy they used was: "Like a PDF, but with data and analytics embedded in the document." This meant creating pixel-perfect, portable HTML with an embedded BI engine and a file size smaller than a PDF—a monstrous challenge.

We accomplished this and realized that any document could be made in this format. This innovation fused traditional documents and apps, allowing companies to easily publish information on the web, create data products, and develop data apps. It saves them 90% on software and backend technology costs.

Moreover, this singular format enabled us to create next-generation tools for business users to create web-ready content and data products. Our users call this tool "PowerPoint on Steroids." Now, everyone can be a web content creator and data app designer.

How did you form a team? How do you know each other, why did you decide to work together?

The core team has been working together for over 20 years at Information Builders, a leading data management and business intelligence platform acquired by Tibco in 2020. The company served over 12,000 customers worldwide and had offices in 45 countries.

Was there a moment that almost turned you down?

No, we definitely have our own bad moments. But over the years, we've learned that resilience is key. Success doesn’t come easy, nor does it arrive when we expect it, but with dedication, it eventually does. It took PowerPoint 7 years to take off and PDF 5 years. We may feel desperate at times, but we never give up.

The biggest mistake so far?

Two mistakes we made:

First, we chose the wrong technology partner. This decision caused a six-month delay and loss of customers. We compromised on the choice due to perceived market synergies, knowing it wasn't the best solution. We learned not to tie our main choice to secondary considerations. When selecting a partner, choose them for what you need, not for adjacent potential opportunities.

Second, we focused on the wrong geographic market. Some markets just aren’t ready, and it's crucial to exit them quickly.

The most valuable advice you would give to those after you?

If you have a strong conviction in the benefits of your products and/or services keep going because success is not instantaneous. Success is never instantaneous. The only sure thing is hard work.

How do you resemble the Bulgarians and how do you differ from them?

Rado: I am emotional, which is very important when you manage people and when you need passion to launch a product. But I am also rational and pragmatic. I was schooled in the tradition of Anglo-Saxon rationalism and I do not argue about definitions and semantics; I try to align economic interests.

Why is Bulgaria a good (or bad) place to start a business?

Bulgaria, like any country, has pros and cons for business. It is in the EU, taxes are good, and there is talent. On the other hand, things happen in Bulgaria much slower than in other countries. The emotional disposition makes the hard conversations even harder. I also do not see the same entrepreneurial drive as in the USA.

If you have a magic wand, which partner or investor would you like to bring to the team?

Any of the top 10 US VCs. They create tremendous awareness instantly.

What are your goals? Where do you want to go from here on out?

Our initial goal was to replace PDFs as the universal format. However, based on user feedback, we've realized that our tools strongly appeal to Gen Z and have the potential to become the next productivity suite. Our aim is to surpass Adobe, Canva, Office, Power BI, Tableau, and WordPress. This is ambitious, but wasn't Tesla once seen as an impossible project? There are many examples like that. We must follow our passion, execute systematically, and hope for a bit of luck too.

Why did you become part of the BESCO team?

We like networking and think that entrepreneurial networks are an important ecosystem. Just sharing and learning from peers alleviates many of the pains that we all endure as well as opens new perspectives. + BESCO is the voice of innovative ecosystem in Bulgarian.