1Mby1M Virtual Accelerator Investor Forum: With Steven Mitzenmacher, Rackspace Technology (Part 4)

Sramana Mitra: What range would you put on your first two categories?

Steven Mitzenmacher: It’s so subjective. I used to live at a time when an enterprise software company could expect a 2.5 to 3 times revenue to be an appropriate multiple. Then you get into the SaaS world where it’s 30 to infinity times. Similarly, now being in the world of professional services, you used to live in a world where 1 to 1.5 times was appropriate. Now you see sexy cloud consultancy companies selling for 4 to 6 times revenue.

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Sramana Mitra: The text-to-voice technology is from Nuance?

Martin Neale: It’s not. It might be from Nuance at some point, but Microsoft is already doing their own telephony integration. We use another vendor’s technology for the telephony piece.

Sramana Mitra: Talk to me about the healthcare public service case studies. What kinds of applications and use cases are you using these chatbots around?

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1Mby1M Virtual Accelerator Investor Forum: With Steven Mitzenmacher, Rackspace Technology (Part 3)

Sramana Mitra: If we want to send you deals to look at, you are a perfectly good point?

Steven Mitzenmacher: Absolutely. Our mandate is to be knowledgeable enough that we can be a quick filter. Quick no’s are better than long maybe’s. We can help you intelligently navigate the organization in terms of where your opportunities are.

Sramana Mitra: I know you’ve recently switched to Rackspace. Have you created this map already? Do you have a sense of what is going to be your focus?

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Sramana Mitra: You’re offering a free data model to your first client. That’s how you get access to the training data.

Martin Neale: That’s right.

Sramana Mitra: Give me a little bit of color on the kind of data you were able to access on which you’ve trained the model. What kind of heuristics does the model contain?

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Sramana Mitra: Let’s start at the very beginning of your story. Where are you from? Where were you born, raised, and in what kind of background?

Chris Grandi: I was born and raised on the East Coast outside of Washington DC, and I grew up in suburban Maryland. For university, I went to the West Coast and attended UCLA. I then continued on to graduate work. I got my MBA from Harvard Business School. I moved out to San Francisco, California where I’ve been for approximately 20 years.

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1Mby1M Virtual Accelerator Investor Forum: With Steven Mitzenmacher, Rackspace Technology (Part 2)

Steven Mitzenmacher: The next function is a capability deal. That’s not just about your existing core and enhancing it; it’s about adding a new Lego brick to your core. That might be your bolt-on acquisition. In that case, it’s augmenting a new product or service offering that can add technology or features to your existing stack as an adjacency. It’s highly complementary to your existing portfolio. It’s an extension, but it’s not a radical departure from what you do. It’s a similar selling motion but with a new value proposition or new use cases.