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Bootstrapping to $20 Million: Jagan Reddy, CEO of Leeyo Software (Part 6)

Posted on Saturday, Oct 22nd 2016

Sramana Mitra: How did that revenue split between large enterprises and SMBs?

Jagan Reddy: About 75% of revenue is from large enterprises.

Sramana Mitra: You said you had to increase your marketing to get into the SMB customers. What did you do in terms of marketing?

Jagan Reddy: It’s more outbound. The only trouble in our field is, we’re trying to reach through the accounting team members. If you look at the market, there are no groups where the accounting team comes together to discuss. It’s very hard to bring all these guys together. You have events to meet IT people. You can go for a CFO event. You can meet CEOs at a conference. You can get into a forum for sales people. Everybody has a forum or an event happening where these people go. Accounting group is something which was never tapped into.

We had a big challenge. Our marketing team was able to put some programs with some attractive topics where we could bring the revenue accounting group together. We started creating our own database of revenue accountants in all the public and private companies. We started doing webinars and some white papers to attract their attention.

Sramana Mitra: You had a telesales group that processes these leads?

Jagan Reddy: We have a very lean team. We have a lead generation team in India. They generate the leads and pass it on to the sales team. The marketing team also generates a lot of leads using the webinars. It’s a very lean team. It’s a one or two member team. From thereon, the sales team will convert.

Sramana Mitra: Your India team is in Chennai?

Jagan Reddy: Yes.

Sramana Mitra: How big is the Chennai operations?

Jagan Reddy: We are close to 130.

Sramana Mitra: How many are in the Bay Area?

Jagan Reddy: We are around 120 there.

Sramana Mitra: What is the split in the operation in terms of implementation and development?

Jagan Reddy: I would say the implementation team would be around 50.

Sramana Mitra: Is that mostly in the Bay Area?

Jagan Reddy: Yes. For the development in the Bay Area, we would have 15 people. We just started development in Chennai with a team of about 20 people.

Sramana Mitra: What is the bulk of the Chennai team? Customer support?

Jagan Reddy: Support is our big team in Chennai. We provide 24/7 support. There is a group that comes in three different shifts. If you take the group and divide by three, you will see that there’s a lean team supporting our customers in every shift.

Sramana Mitra: What is your forecast in 2016?

Jagan Reddy: We have big ambitions for 2016. We are targeting $20 million to $25 million.

This segment is part 6 in the series : Bootstrapping to $20 Million: Jagan Reddy, CEO of Leeyo Software
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