4.6 • 683 Ratings
🗓️ 1 November 2023
⏱️ 31 minutes
🧾️ Download transcript
This security SaaS hit $120,000,000 revenue in 2022. Then they decided to sell a $70m business unit for $250m cash. Today they are cash rich with $50m in ARR. Who will the CEO acquire with all that cash? How fast will it take to get back to $100m in ARR?
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0:00.0 | Guys, last year, Code 42 with their combined products, hit $120 million of revenue. |
0:03.9 | They sold off a $50 million, or sorry, a $70 million revenue stream for $250 million to a private equity group. |
0:08.9 | Joe's now in a very good, defensible position with a bunch of cash on the balance sheet, |
0:12.1 | and the product left behind, which is the product they're very excited about at Code 42, doing still $50 million of revenue. |
0:17.5 | That was a year ago, targeting 20% year-over-year growth. We'll put them if they hit it at 60 million in AR this year. We'll see what happens there. We've got 800 customers on |
0:24.6 | that product, several paying more than a million per year, which is great. 200, 220 folks on the |
0:29.0 | team, 30 quota-carrying reps as they continue again to build products here to make sure that |
0:33.2 | internal employees don't accidentally or intentionally take files from your company into their next |
0:38.5 | gig. |
0:39.6 | Hey folks, my guest today is Joe Payne. |
0:41.6 | He's the president and CEO of Code 42, a leading data security company that focused on reducing |
0:45.6 | the risk of data leakage from insider threats. |
0:48.4 | With more than 20 years of experience as CEO, he's a proven track record leading high |
0:51.8 | growth technology companies over a long period. |
0:55.0 | Previously, you served as CEO of Eloqua, e-secure, and EGrail, and as president of eye defense. |
0:59.8 | Joe, you're ready to take us to the top? |
1:01.9 | Let's go. |
1:02.8 | All right. |
1:03.5 | So Code 42, I guess help us understand how you're helping big, I assume SaaS companies, |
1:08.5 | companies in general prevent insider threats. |
1:10.4 | Is social engineering? Is it |
1:11.6 | team training? Is it code exclusively? What is it? Yeah, it's really interesting, Nathan. A lot of |
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