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Matt Ellis

Founder & CEO, Sixty AI · 1 appearance on the record.

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founderexecutiveinvestor@matellis ↗LinkedIn ↗matellis.com ↗

He co-founded and served as CEO of Cloudability in 2011, helping establish the cloud cost management and FinOps space before selling the company to Apptio in 2019. He now develops Sixty AI, an AI-powered productivity platform, and invests in and advises early-stage tech startups.

19statements → 13claims → 1claims resolved → 3.89/5average certainty → 1.26/5average debate potential → ≈4.5/5argument clarity, estimated → 2said about them ↓

0 supported 0 partly supported 1 contradicted 12 not checkable as stated how the 13 claims stand · each chip opens the sources

2 predictions · 11 assertions · 3 insights · 3 disclosures · every statement was checked. The predictions and assertions are the 13 claims: statements the public record can support or contradict. 1 is resolved, and 12 name no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Matt argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

Their most notable contradicted claim

Prediction Didn’t hold up
Cloudability plans to IPO by 2023 to become a consolidation platform
“So sometime in the next five years or mature, we will probably be an IPO. We can use our currency to combine or join a combined entity and go out there and just become something akin to a new version of Cisco or SAP.”
Matt Ellis Nov 21, 2018 ▶ 15:48 1215 Cloudability CEO: We're Past $20m in ARR, 11% of Total AWS Spend

How they sound: not measured why? →

We measure speaking style by listening to the audio itself, and a fair number needs at least 2,000 words from one person on tape we have measured. There is too little of Matt Ellis on measured tape to publish a rate. This says nothing about how they speak.

Everything Matt Ellis said on Top Founders that made the record, most notable first. Filter by type, assessment or year in the ledger →

Insight
Ellis: Mezzanine debt adds leverage and reduces dilution ahead of next round
“There's a leverage limit to what the venture debt people will give you, and then you can generally get more debt from a mezzanine provider, and you'll pay a higher, much higher rate of interest, maybe three or four times what you pay on the venture debt, but y…”
Matt Ellis Nov 21, 2018 ▶ 13:12 1215 Cloudability CEO: We're Past $20m in ARR, 11% of Total AWS Spend
Insight
Ellis: Cloud IT is a supply chain problem, not a maintenance problem
“The way you made technology work before was you had smart people to make it just work. That Ubuntu server wasn't going to stay working unless it's someone to keep it working. Now you buy it from Google for eight cents an hour. Now the problem is not making it …”
Matt Ellis Nov 21, 2018 ▶ 5:31 1215 Cloudability CEO: We're Past $20m in ARR, 11% of Total AWS Spend
Assertion Not checkable as stated
Cloudability processes 11% of total AWS revenue
“We have 11% of Amazon's revenue going through our system, and a fairly large amount of the other two big clouds going through our system.”
Matt Ellis Nov 21, 2018 ▶ 6:07 1215 Cloudability CEO: We're Past $20m in ARR, 11% of Total AWS Spend
Insight
Startups serving everyone early on will lose in every vertical
“But if you're trying to do all things to all people today, you're going to lose in every vertical. You've got to win in one vertical and then combine the winning vertical, the winning solutions. And that happens when the industry matures.”
Matt Ellis Nov 21, 2018 ▶ 15:37 1215 Cloudability CEO: We're Past $20m in ARR, 11% of Total AWS Spend
Prediction Didn’t hold up
Cloudability plans to IPO by 2023 to become a consolidation platform
“So sometime in the next five years or mature, we will probably be an IPO. We can use our currency to combine or join a combined entity and go out there and just become something akin to a new version of Cisco or SAP.”
Matt Ellis Nov 21, 2018 ▶ 15:48 1215 Cloudability CEO: We're Past $20m in ARR, 11% of Total AWS Spend
Assertion Not checkable as stated
Cloudability typically reduces customer cloud bills by 20% to 30%
“We're actually reducing your bill typically by 20 to 30% a year on a unit cost.”
Matt Ellis Nov 21, 2018 ▶ 3:12 1215 Cloudability CEO: We're Past $20m in ARR, 11% of Total AWS Spend
Assertion Not checkable as stated
Cloudability's cloud bill stayed flat while the business grew 11x
“Our bill personally at cloudability in February was the same as it was in April, 2015, for a business of 11 times bigger.”
Matt Ellis Nov 21, 2018 ▶ 3:16 1215 Cloudability CEO: We're Past $20m in ARR, 11% of Total AWS Spend
Disclosure
Cloudability reports typical annual contract values between $100,000 and $250,000
“Typically it's a hundred to 250 grand ACPs.”
Matt Ellis Nov 21, 2018 ▶ 3:56 1215 Cloudability CEO: We're Past $20m in ARR, 11% of Total AWS Spend
Assertion Not checkable as stated
Cloudability serves fewer than 1,000 enterprise customers
“With some of those companies like Axio, we have, you know, under a thousand customers.”
Matt Ellis Nov 21, 2018 ▶ 7:04 1215 Cloudability CEO: We're Past $20m in ARR, 11% of Total AWS Spend
Assertion Not checkable as stated
Cloudability processed two exabytes of data in 2017
“We processed two exabytes of data last year.”
Matt Ellis Nov 21, 2018 ▶ 8:26 1215 Cloudability CEO: We're Past $20m in ARR, 11% of Total AWS Spend
Assertion Not checkable as stated
Cloudability's first three customers from 2012 remain active in 2018
“And the first three customers who signed with us in 2012 are still customers with us today.”
Matt Ellis Nov 21, 2018 ▶ 9:07 1215 Cloudability CEO: We're Past $20m in ARR, 11% of Total AWS Spend
Assertion Not checkable as stated
Cloudability grew revenue 40x while its dataset expanded ten million-fold
“Well, we went through a period, we grew the business 40 times in revenue early on, and we grew the revenue the data set size ten million fold.”
Matt Ellis Nov 21, 2018 ▶ 9:22 1215 Cloudability CEO: We're Past $20m in ARR, 11% of Total AWS Spend
Assertion Not checkable as stated
Cloudability revenue growth is split evenly between expansion and new logos
“It's about fifty-fifty right now.”
Matt Ellis Nov 21, 2018 ▶ 11:16 1215 Cloudability CEO: We're Past $20m in ARR, 11% of Total AWS Spend
Assertion Not checkable as stated
Cloudability doubles or more than doubles its revenue year over year
“We are doubling or more than doubling every year.”
Matt Ellis Nov 21, 2018 ▶ 12:11 1215 Cloudability CEO: We're Past $20m in ARR, 11% of Total AWS Spend
Disclosure
Cloudability has raised $32 million in equity funding
“32 in equity.”
Matt Ellis Nov 21, 2018 ▶ 13:00 1215 Cloudability CEO: We're Past $20m in ARR, 11% of Total AWS Spend
Prediction Not checkable as stated
Cloudability predicts exceeding $50 million in ARR by end of 2019
“We'll be double, double, double. So sometime I think by the end of next year we'll be over 50.”
Matt Ellis Nov 21, 2018 ▶ 14:16 1215 Cloudability CEO: We're Past $20m in ARR, 11% of Total AWS Spend
Disclosure
Cloudability recovers customer acquisition costs within one year
“Inside the first year.”
Matt Ellis Nov 21, 2018 ▶ 17:40 1215 Cloudability CEO: We're Past $20m in ARR, 11% of Total AWS Spend
Assertion Not checkable as stated
75% of new Cloudability customers outpace their contract spending schedules
“About 75% of our upfront new logos are spending ahead of where they thought they were because we accelerate what they do.”
Matt Ellis Nov 21, 2018 ▶ 17:41 1215 Cloudability CEO: We're Past $20m in ARR, 11% of Total AWS Spend
Assertion Not checkable as stated
Cloudability employs 130 people, with 75% based in Portland
“130 three quarters of us are based in Portland, Oregon.”
Matt Ellis Nov 21, 2018 ▶ 18:25 1215 Cloudability CEO: We're Past $20m in ARR, 11% of Total AWS Spend

The other half of the tape: Matt Ellis's own voice is left out of every number here. Other people bring the name up 2 times in 1 episode on Top Founders. every mention, with the transcript →

Who brings them up most Nathan Latka 2

Every mention by year

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0112023episodes it came up in
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2023 2 mentions in 1 episode

Appearances (1)

EpisodeDateSpeaking time
1215 Cloudability CEO: We're Past $20m in ARR, 11% of Total AWS Spend Nov 21, 2018 9m
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