The Ledger
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Smith claims every higher education institution worldwide uses Qualtrics
“It's just not a good business model, but if you look at it now, every single academic higher ed institution in the world uses Qualtrics.”
Qualtrics adds one million trained academic users each year
“We have a million academic users that are popping out annually, and throughout the course of time, everyone's getting trained on our product and our platform.”
Lemkin: Ryan Smith's Utah Jazz investment quadrupled, outpacing software returns
“When Ryan Smith sold Qualtrics, I think he made about a billion dollars. After 20 years or so and I believe that billion, most of it went back into the jazz, and it has quadrupled... He's up three billion on the jazz or something like that versus the 20 years …”
Qualtrics Hit $50 Million in Revenue Before Raising Venture Capital
“You have Qualtrics that the first time they raised, they already had fifty million dollars in revenues.”
Qualtrics' 2012 Series A was the largest first-time VC investment since 2008
“And it was the largest series a or first time investment since 2008.”
Qualtrics reached nearly $50M revenue with 50% profit margins while bootstrapped
“We were close to coming up on fifty million dollars in, in sales and, you know, 50% profit margins, a hundred percent bootstrap.”
Qualtrics raised no venture capital for its first 12 years
“Qualtrics, which SAP just acquired for eight billion dollars. They didn't raise their first venture capital until 12 years into the company. I believe it was 18 years old when it was acquired”
Qualtrics scaled from 600 to 1,200 employees in one year
“The idea of transparency is that everyone's basically an insider and we've gone from 600 employees to 1200 employees in one year. We've gone from one office to eight offices”