Sramana Mitra: So merchants in India can pay in Indian currency to subscribe to Bigcommerce? There is a problem in India with currency as you know. Mitch Harper: They have to pay us in US dollars, but they can accept in their local currency. Sramana Mitra: That’s an issue in India. A lot of people
Sramana Mitra: By now, you are now in your Series B phase. You have already leveraged your install base from your previous company. What has been the primary customer acquisition strategy in the scaling phase? I do see you advertising a lot online. Mitch Harper: I wouldn’t say there’s one main channel. I’m really good
Sramana Mitra: What was your revenue level in 2010? The 9,800 customers translated into what kind of revenue level? Mitch Harper: Our average per user back then was about $40 per month. It was somewhere around $5 million to $10 million at that time. Sramana Mitra: What were the milestones that you set for yourself
Sramana Mitra: Do your merchants have $100,000 in revenue or are they $2 million in revenue? Is there any kind of cut-off there? Mitch Harper: Our customers’ revenue typically ranges from $1 million to $30 million of revenue per year. Sramana Mitra: Your customer base is more in the $1 million to $30 million range. Then, the
Sramana Mitra: Was there any geographical bias in the 2,000-customer base? Mitch Harper: They were mainly from North America and Australia. Sramana Mitra: Why were they pre-ordering? Why were they interested in your product? This is a segue into the discussion about your competitive landscape. There are a few players in that space. There is