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SaaS Interviews with CEOs, Startups, Founders

The Math Behind the $360m Sage Paid to Acquire BrightPearl

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6683 Ratings

🗓️ 18 April 2022

⏱️ 20 minutes

🧾️ Download transcript

Summary

Retail Operating System for Merchants

Transcript

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0:00.0

And then in 21, just gone, we got to 30 million, which was 63% growth year over year.

0:04.8

That's been the trajectory.

0:08.5

You are listening to Conversations with Nathan Latka, where I sit down and interview the top

0:13.8

SaaS founders, like Eric Wan from Zoom.

0:17.8

If you'd like to subscribe, go to getlatka.com.

0:21.5

We've published thousands of these interviews,

0:23.9

and if you want to sort through them quickly by revenue or churn,

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the easiest way to do that is to go to gitlatka.com and use our filtering tool.

0:34.0

It's like a big Excel sheet for all of these podcast interviews.

0:37.0

Check it out right now at

0:38.2

GitLatka.com. Hey folks, my guest today is a familiar face. He's been on a many times. Derek

0:45.3

O'Connell is the CEO of Austin-based retail back office software provider called Bright Pearl.

0:50.8

Derek's remarkable six-year turnaround of Bright Pearl is now complete. He turned it from a

0:54.5

loss-making business, about it just $8 million, into a $360 million acquisition by Software Giant Sage,

0:59.5

which many of you guys know. He did it, in his words, by taking staff to the Valley of Death

1:03.1

and upping the charges of some low-paying clients from $6,000 a month to $140,000 a month. We love net dollar retention. Derek, ready to take us to the top?

1:12.2

Absolutely, Nathan. Looking forward to it. All right. So give context again real quick. What year did you

1:16.2

join Bright Pearl? I joined 2016 in April. Okay. And you were, you guys were doing $8 million in

1:23.2

run right at that point. We were $8 million quickly on our way to six, if that gives you get more context.

1:29.9

Yep, that does.

1:31.0

Yeah, it was a shrinking business, put it that way.

...

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