Sramana Mitra: When this happened, who else was in the company? Bhavin Parikh: When we raised in May of 2011, we made that blogger into a full-time employee. He was doing content marketing for us full-time. He was also helping us create content for our product. Then, we hired a software engineer who had interned with
Sramana Mitra: Belarus is not your own division? Bruno Lowagie: No, it’s not our own company. It’s a company with a subsidiary in Belgium. We pay the Belgian company but the people who work on iText are in Belarus. Sramana Mitra: How has revenue ramped? Bruno Lowagie: I believe that in 2011, we finished with $2.4
Sramana Mitra: When you raised the $35 million, how many customers did you have? Eric Frenkiel: I don’t recall the exact numbers, but it was around a dozen customers at that point. Sramana Mitra: Were these large companies? What kind of customers are we talking? Eric Frenkiel: They were all logos that anyone would recognize. One of the
Sramana Mitra: Interesting. That started converting as well. This was not only traffic but it was the right traffic. Bhavin Parikh: Yes. The thing is you don’t see the conversion immediately because people need to build that relationship with you. They come to your site. They read a post and start to think, “They really know
In case you missed it, you can listen to the recording here:
During today’s roundtable, we celebrated the launch of my book, Billion Dollar Unicorns, with Therese Tucker, Founder and CEO of BlackLine. Therese is a very successful female entrepreneur who followed our core philosophy of bootstrap first, raise money later. When I first met her in 2009, her company was in the $10 million revenue range.
Sramana Mitra: Were you still in Gent? Bruno Lowagie: I was still in Gent and we’re still in Gent. In 2009, the list was finished and we didn’t find any new customers. We then made a bold move. We changed the old version of iText from the LGPL/MGPL to the AGPL. That’s a more viral license.
A Markets and Markets report on Hadoop estimates the total Hadoop market to grow 55% annually to be worth $13.95 billion by 2017. Billion Dollar Unicorn club member Hortonworks is one successful player in this rapidly growing Hadoop market.