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Bullhorn

20 statements across 2 episodes · 5 bullish · 1 bearish · 2 people on the record · first statement Sep 2, 2019 by Art Pappas · said 22 times in 6 episodes since 2018 · across every show →

Mentions by year

brought up most by Nathan Latka (16), Ted Elliott (4), Art Pappas (2)

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2022 1 mention in 1 episode
2021 10 mentions in 3 episodes 3 per episode
2019 10 mentions in 1 episode
2018 1 mention in 1 episode

every mention, scene by scene, with the transcript →

Everything said about Bullhorn, oldest first

Sep 2, 2019
Disclosure
Bullhorn sets sales quotas at 3x to 5x on-target earnings
“So in the SMB, it's about Three to three and a half. And then in the enterprise, it's a full five.”
Art Pappas Sep 2, 2019 ▶ 19:52 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+
Sep 2, 2019 neutral
Assertion Not checkable as stated
Bullhorn established a 20% option pool during its 2008 recapitalization
“It was a 20% option pool.”
Art Pappas Sep 2, 2019 ▶ 9:20 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+
Sep 2, 2019
Assertion Not checkable as stated
Bullhorn blew its entire $4 million Series A on its original idea
“Then we raised like nine months in, we raised four million dollars series a, which was promptly blown on the original marketplace idea.”
Art Pappas Sep 2, 2019 ▶ 5:26 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+
Sep 2, 2019 positive
Assertion Not checkable as stated
Art Pappas: Bullhorn has 10,000 paying customers primarily in US and EMEA
“10,000 paying customers. Majority are in the United States and EMEA.”
Art Pappas Sep 2, 2019 ▶ 3:06 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+
Sep 2, 2019
Disclosure
Bullhorn spends $1.10 to $1.50 to acquire one dollar of ARR
“We'll spend about 22, five to 25. Depends on the segment. So bigger customers, more expensive. So you'll spend up to 25, you know, a dollar 50. To acquire a dollar of recurring revenue. Smaller customers, you'll spend about a dollar 10.”
Art Pappas Sep 2, 2019 ▶ 18:08 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+
Sep 2, 2019
Assertion Not checkable as stated
Bullhorn survived a 2002 down round with a 50% valuation haircut
“And we did a very small, like 700 K round. At a 50% haircut to the prior round.”
Art Pappas Sep 2, 2019 ▶ 6:28 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+
Sep 2, 2019
Assertion Not checkable as stated
Vista acquired Bullhorn in 2012 in a low nine-figure transaction
“It did leak that it was a nine figure deal. So yeah. And it wasn't high nine figures, obviously.”
Art Pappas Sep 2, 2019 ▶ 10:37 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+
Sep 2, 2019
Assertion Not checkable as stated
Bullhorn reached $40 million ARR prior to its 2012 Vista acquisition
“20 12 was like 40.”
Art Pappas Sep 2, 2019 ▶ 10:18 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+
Sep 2, 2019
Assertion Not checkable as stated
Bullhorn's total employee headcount is just under 1,000
“We're just under a thousand.”
Art Pappas Sep 2, 2019 ▶ 19:25 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+
Sep 2, 2019 negative
Disclosure
Pappas enormously regrets selling early secondary shares during the Vista deal
“No, with the Vista deal, I did quite a bit and regretted that actually. Like enormously because, you know, you saw what happened to the revenue, right? Like had I just held on”
Art Pappas Sep 2, 2019 ▶ 21:44 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+
Sep 2, 2019 positive
Assertion Supported
Bullhorn grew revenue from $40 million to $130 million under Vista
“We started revenues at 40, and we ended at one 30.”
Art Pappas Sep 2, 2019 ▶ 13:17 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+
Sep 2, 2019 neutral
Assertion Not checkable as stated
Most of Bullhorn's $26M round in 2008 went to secondary share purchases
“A lot of it, most of it was secondary.”
Art Pappas Sep 2, 2019 ▶ 8:15 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+
Sep 2, 2019 neutral
Assertion Not checkable as stated
Bullhorn maintains an average annual contract value of approximately $20,000
“Yeah, that's right.”
Art Pappas Sep 2, 2019 ▶ 3:23 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+
Sep 2, 2019 bullish
Assertion Not checkable as stated
Bullhorn operates at a run rate of over $200 million ARR
“Correct.”
Art Pappas Sep 2, 2019 ▶ 2:29 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+
Sep 2, 2019
Assertion Supported
Bullhorn launched in 1999 as a creative talent marketplace before pivoting
“So we started Bullhorn in 1999 and we were originally We were a online service, kind of like if you've ever used or seen Upwork or Fiverr, we were an online marketplace and specifically we were focused on creative talent and it was really too early for that bu…”
Art Pappas Sep 2, 2019 ▶ 0:51 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+
Sep 2, 2019 neutral
Assertion Not checkable as stated
Bullhorn reached $13.5 million trailing revenue before its 2008 recapitalization
“We were 13 and a half trailing.”
Art Pappas Sep 2, 2019 ▶ 7:34 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+
Sep 2, 2019 neutral
Disclosure
Bullhorn maintains low-90s gross revenue retention and around 100% net retention
“We're in the low nineties gross and around a hundred percent net.”
Art Pappas Sep 2, 2019 ▶ 16:39 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+
Sep 2, 2019 positive
Assertion Not checkable as stated
Bullhorn achieved continuous profitability starting in 2003
“We were always profitable after 2003.”
Art Pappas Sep 2, 2019 ▶ 7:53 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+
May 10, 2021 positive
Disclosure
Elliott: Jobscience sold at over 3x multiple while growing 30%
“So that business was growing at 30%. And you know, it was a multiple that was over three. It wasn't a great multiple, but because the ownership was 70%, Myself, my dad, and my sister it was it was a good exit.”
Ted Elliott May 10, 2021 ▶ 4:29 DevOps Tool Copado Breaks $400m Valuation, as New CEO Ushers in 100% YoY Growth with Founders
May 10, 2021 neutral
Assertion Not checkable as stated
Elliott: Jobscience generated roughly $25M in revenue at acquisition
“I think when we sold it, we were doing more like 25.”
Ted Elliott May 10, 2021 ▶ 4:51 DevOps Tool Copado Breaks $400m Valuation, as New CEO Ushers in 100% YoY Growth with Founders
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