Sramana Mitra: What is the average size of each customer? What is an average deal size? I’m trying to understand your business. Is it a business that generates $2,000 or $200,000 per customer?
Camilla Ley Valentin: What I can say is that our customers range. An example of a small case could be a university that provides student housing and you have the student apply for that. That’s typically low price. When we protect an iPhone by a major telecom company, then you can imagine that that’s quite a different revenue scenario. Most of our customers are in the enterprise range. We can’t disclose any specific numbers but it’s mainly large enterprise businesses.
Sramana Mitra: It’s mainly an enterprise software business, right?
Camilla Ley Valentin: Yes, correct.
Sramana Mitra: Give me some ballpark. Are we talking $50,000, $100,000, or $1,000,000 deals? Where is this business that we’re talking about?
Camilla Ley Valentin: Again I don’t want to disclose any average customer revenue numbers.
Sramana Mitra: I’m not asking for average customer revenue numbers. I’m trying to understand what kind of a business did you build.
Camilla Ley Valentin: It’s for enterprises mainly but we have long sales as well. We have three different tiers. We have small, medium, and large business, and then enterprise for the very big companies where we do very specific things. We service all businesses. We prevent the site from crashing and you need to have a certain number of users and customers to make that happen or to make it a problem.
So, it’s not for mini web shops that have 10 users every day. The customers that are relevant to us need to have a lot of traffic from users to be interested in what we offer. They’re customers that would typically buy Akamai. A lot of them are relatively big companies.
Sramana Mitra: Can you talk about your geographical customer acquisition strategy? You said your first customer was in Denmark. The next five to eight customers were outside Denmark. Were they in Europe?
Camilla Ley Valentin: The next one was in the UK. It’s an organic thing. We try to think of the company as a global player before day one when we planned the deal. The end users see the Queue-it page and they see our brand. It spreads organically. If we have a Queue-it in a country, then we’ll get more customers in that country. We had customers in the early days in Denmark, England, South Africa, US, and Holland. They were among the first countries.
Sramana Mitra: Where is the business today? Where is the concentration of customers?
Camilla Ley Valentin: Our main business is in the US. We have about 40% of the business in the US.