As you know, I love doing stories on entrepreneurs from different parts of the world, especially from geographies that have insignificant presence on the entrepreneurship map of the world. Here’s a wonderful story from Nashville, Tennessee.
I am a huge fan of virtual companies, and here is one that has been built with excellent execution from London by a Russian entrepreneur. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind of background? Peter Zaitsev: I was
Sramana Mitra: I’d like to cover this CEO transition, which is always a tricky thing to do. For founders to let go and bring on a new CEO is a tricky transition. How did you do it? What wisdom do you have to offer for people who are trying to do that? Kevin Groome: Let
Sramana Mitra: What’s the next major inflection point? Kevin Groome: The introduction of Campaign Drive. We kept on building the software and getting more of our legacy customers over to the SaaS platform, which was an enormous risk point. By 2014, we were able to say that we had 90% of our legacy customers on
Sramana Mitra: How many clients did you have in 2007? Kevin Groome: Brands under management were 40. Billing relationships were probably 15. Sramana Mitra: What kind of revenue level were you at? Kevin Groome: We were at around $1.6 million in subscription revenue. We used to call ourselves an ASP.
Sramana Mitra: What else is interesting in your strategy? Charles Miglietti: What we are building right now. We are building a series of ready-to-use applications that will be plugged into existing systems. As we provide the very top layer of the visualization, we can build business applications that rely on any existing ERP or any
Sramana Mitra: How big was that deal with Marriott? Kevin Groome: At that time, not that big. It was less than $100,000 a year. They are now our largest client. They spent probably $30 million with us. Sramana Mitra: $100,000 for a small company year-over-year is not a small amount of money.
Sramana Mitra: Once you hit this limit and you realized that you had to do something else, what did you do? Charles Miglietti: We looked at our customer base. We identified the pattern in terms of persona and use case. We kept only the good ones – the ones that were repeatable. Sramana Mitra: What