In the season two opener of iGaming Accent, host Vakho Mdivani welcomes Adi Dagan – entrepreneur, industry veteran, and Senior Director of Partnerships at Optimove – for a candid conversation about the realities of building, scaling, and selling a tech company in the iGaming sector.
Adi’s journey began in Israel, where a chance meeting at a bachelor party led him to join Playtech in its earliest days. “There were like 25-30 people in the office. Super cool, young guys, hungry. I obviously didn’t know anything about gambling or gaming or casino or poker or whatever, but something in the atmosphere and the vibe was really, really interesting for me.”
That pivotal moment not only launched Adi’s career but also brought several of his childhood friends into the industry, some of whom would later become his co-founders.
After five years at Playtech, Adi and his best friend decided to leave and start their own venture. “We didn’t have any concrete plan… but we were thirty, didn’t have any debts, kids, or obligations, so we just decided that we’re going to roll the dice.”
Their startup, Beehive B.I., was born out of a recognition that iGaming operators lacked robust data analytics and business intelligence tools. “Gaming is a bit behind other industries as far as technology trends… We figured out there was a lack of data and visibility for operators to analyze their performance.”
Adi emphasizes that in B2B, relationships and trust are everything: “You want to tell everyone you already built a Tesla, but the reality is you barely have a bike that is barely working. The fine line comes from being honest about what you’ve developed and what you’re looking to achieve, but being very clear about the value they would see now.”
Landing Ladbrokes as a client was a turning point. “All we cared about was to be able to put the Ladbrokes logo on our website… The first ones are the hardest. It’s exactly like when you go to the gym, and you start doing pull-ups—the first one is impossible, but after that, the second and third are easier.”
Adi shares the unique challenges of selling to enterprise clients: “With a small client, you go through one or two decision-makers. With a company like Ladbrokes, you have to be convinced of procurement, legal, IT, security… If legal or security says no, that’s it, you’re done.”
The conversation delves into the emotional rollercoaster of startup life, from the grind of endless “no’s” to the importance of celebrating every small win. “When you have a small team and a small startup, you have to stop and smell the roses. Celebrate the little wins, otherwise you won’t survive. The reality is built by negativity and challenges, and no, no, no, no. So when you get those yeses, celebrate them.”
Adi also recounts the high-stakes process of Beehive’s acquisition by Playtech—a journey that took 11 months and tested his patience and resilience. “Throughout the entire process, I thought it’s not gonna happen… There were months of break during the discussions, and as a founder, you’re basically losing your mind because your entire focus is on that deal. But at the same time, you also have a business to run.”
Reflecting on his career, Adi underscores the importance of team and co-founders: “Picking the correct founding team is everything. These are your brothers in battle. You need to make sure you trust them, and they trust you, because you’re going to get through whatever comes in.”
Нe also responded to a question from SBC Advisory’s Anton Kaszubowski and posed one of his own for the next guest.
To hear the whole conversation and gain even deeper insights, listen to the complete podcast episode of iGaming Accent.
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