Gupta would reject a $250M acquisition offer to keep building BirdEye
Naveen Gupta · 845: SaaS: 2014 $1.4m, Now $30m ARR how BirdEye Aiming To Be Hubspot 2.0 · Nov 16, 2017 · at 21:52
BirdEye co-founder Naveen Gupta responds to Nathan Latka asking whether he would sell the customer experience SaaS company if presented with a $250 million offer.
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“I would not like, you know, we are here to sort of, you know, build a leading SaaS company. You know, we are on, we have a vision where we would like to see sort of bird eye, the de facto platform for businesses, for both their customer experience and reputation marketing.”
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More from Naveen Gupta
BirdEye raised $33M but has burned less than $2M
“So we've raised about thirty-three million to date you know, both through series A and series B, but we've been very efficient in our capital utilization, and we've only used, sort of, you know, less than two million to date.”
Ratings and experience drive purchases over traditional marketing
“Today, it's really, sort of, you know, two things that drive purchases. One is customer experience, and the other is, sort of, customer ratings.”
BirdEye has over 25,000 paying business locations
“Basically have 25,000 plus business customers you know, on the WordEye platform. We power more than. Those are paying customers.”
BirdEye projects reaching $30M ARR by the end of 2017
“And this year we would be, you know, close to thirty million.”
BirdEye charges by physical location rather than per user seat
“Our business model is not based on seats. It's based on locations. So for example, if you are sort of, you know, a business with five locations, right, like, you know, we charge you for those five locations, and then, sort of, you know, whether you have 10 use…”