Sramana: Are you saying that you want to build a platform for larger enterprise customers on which they can develop their own API extensions? Hagai Tal: Yes, we want to build a platform like Salesforce where people can build what they need. That is the main target for us. At the same time, we still
Sramana: If a company like Autodesk has a product for sale in Europe, and I am in the U.S., what is preventing me from just going to the European website to place my order? Hagai Tal: Most people simply go to the website. We are the vendor who supplies e-commerce tools, but companies need to
Sramana: So, you’re saying that Plimus occupies a unique segment of the e-commerce payments platforms by focusing on subscription or intellectual property transactions? Hagai Tal: There are a lot of other players, but they all offer only a portion of what we do. Companies like Vindicia do subscription management, but they do not touch the
Sramana: What kind of private equity investor were you able to bring in to help with Plimus? Hagai Tal: Susquehanna Growth Equity, which is a private equity group, made the investment. They are based in Philadelphia. They bought 50% of the company at a $40 million valuation. We used that money to hire a management
Sramana: Would you describe some of the companies you invested in after you returned to Israel? Hagai Tal: I invested in companies in media payment or social media. I invested in companies only when I felt I strongly understood the direction the market was going. I invested only if I felt I could provide added
Hagai Tal is the CEO of Plimus as well as a serial entrepreneur and active angel investor. He began his career with the Jerusalem Post, where he created their online presence and established their online business strategy during the late 1990s. He then was an early member of JDate.com before heading off to serve as
Sramana: How have you been ramping in terms of customers and revenue? Raghu Raghavan: We are tripling revenue year over year. When we closed our B round in November 2010, we had 70 customers. Today we have 480 customers. We closed 164 customers last quarter and we closed 130 the quarter before. The quality of
Sramana: How important is WebEx to your company today? Raghu Raghavan: WebEx was a source of a lot of our earlier deals, but today it accounts for less than 10% of our business. Coming into the business we had the notion that behavior mattered, so we had good behavioral databases. We also captured a lot