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SaaS Interviews with CEOs, Startups, Founders

1142 Why went public, then sold to Vista for $564m on $100m in ARR

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

Ceo, Entrepreneurs, Founders, Software, Business, Entrepreneurship, Saas, Startups

4.6683 Ratings

🗓️ 9 September 2018

⏱️ 23 minutes

🧾️ Download transcript

Summary

CEO of Xactly Corporation. Seasoned executive with more than two decades of successful senior management experience at both early-stage and public companies. Noted industry expert in issues relating to sales performance management, sales compensation, commission, employee engagement, incentive compensation, benchmarking, big data and software-as-a-service (SaaS) delivery models.

Transcript

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0:00.0

launched exactly back in 2005. They've now scaled up to over 1,400 customers using them to manage

0:06.9

sales plans to kind of gamify the solution for reps so that they understand what all the upside

0:11.3

is and really keep them motivated. You know, more people hit their quotas, I imagine, if they're using

0:15.0

exactly than if they're not. They have about 400 reps on average per 1,400 of those logos.

0:20.1

So do we call it somewhere in the $16 million per month

0:23.4

range because each seat is about 30 bucks. He grew it up to 2015 and about up to about 100 million

0:28.2

bucks in annual sales and raised about 86 million prior to that. Then took it public,

0:32.8

raised about 50 net million on day one, $8 share price. Grew it for two years and then realized there were serious advantages to being private.

0:41.0

Reignated a conversation with Vista and I'm sure some other folks as well.

0:43.7

Ultimately sold the Vista at a great exit price of $16 per share, $560 million,

0:48.9

doing again north of $100 million at that point.

0:51.1

So healthy exit now focused on acquisitions, a longer-term plan, and staying focused on growing

0:56.3

the business.

0:57.5

This is the top entrepreneurs podcast where founders share how they started their companies

1:03.5

and got filthy rich or crash and burn.

1:08.9

Each episode features revenue numbers, customer counts, and other insider information that

1:15.2

creates business news headlines.

1:18.2

We went from a couple of hundred thousand dollars to $2.7 million.

1:21.4

I had no money when I started the company.

1:23.4

It was $160 million, which is the size of any IPOs.

1:26.8

We're a bit strapped. We're bootstrapped.

1:27.7

We have like 22,000 customers.

...

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