The Ledger
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Odoo bans recurring meetings to avoid traditional managers
“I forbid the recurring meeting at the company. They can do meetings. But on the job, or for specific tasks, or trainings, but not recurring meeting. I mean, recurring meeting is a way to manage people, and we try to avoid managers. We want team leaders that wo…”
Odoo never hires managers or directors externally
“Yes, we never recruit managers and directors. Never ever, even when we reopen a subsidiary in a different country.”
Odoo allows employees to choose their own job titles
“So on titles that to do, we have something funny is that everybody chooses title, and some people take funny titles, other people say director of X we don't care. We print the business card, they decide when the, what the title they want us to put, because I w…”
Odoo grew revenue 50% annually for 20 straight years
“So if you look at the past 20 years, we basically grew at 50% per year, year after year, every year.”
Odoo switched to open core with 80% free features
“So I had to do another pivot in the business model, and that time I switched to an open core. Business model, where 80% of the features are open source and 20% are for a fee.”
Switching Odoo to open core allowed a 10x dev team expansion
“When I decided to switch to an open core business model and say, it's not only, it's not anymore 100% open source, it's only 80% open source and 20% for free. I could 10 times the development team, so now I'm contributing way more to open source than before.”
Odoo has one product, three departments, and 400,000 lines of code
“We only have one product. One way to deliver the service. Only three big departments. All our companies everywhere operate the same way. Our product is only 400,000 lines of code”
Odoo completed a €500M secondary deal at a €5B valuation
“So it was five hundred millions of euros at a five billion valuation. It was Summit Partners, one of our earlier investors who sold to Sequoia Capital, BlackRock, Mubadala, and Capital G.”
Odoo stopped all services overnight in 2010 to pivot to software
“So I decided to stop all my services activities from one day to another. But to fund that, I needed to do my first fundraising.”
Under 10% of SMBs use integrated management software
“The equipment rate on the market is still very low, less than 10%.”
Odoo India scaled monthly client signups from 16 to 800
“So when I arrived there, we were signing 16 new clients per month. It's nothing. And now we are around 800 per month, and it's growing it's it continues to grow.”