Reid: Sortable was bought back post-acquisition and pivoted to B2B SaaS
Chris Reid · 1390 With $3m+ in ARR and 300+ Customers, He's Making Digital Advertising Easier for Publishers · May 15, 2019 · at 3:27
Chris Reid is the founder and CEO of Sortable, an ad-tech platform for digital publishers.
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“We built out a publishing business that was consumer focused sold it and yeah, wasn't happy with the sort of the trajectory we were going on post acquisition and so bought it back and Largely pivoted to a B to B focused yeah. SAS company trying to help publishers.”
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More from Chris Reid
Reid: Sortable Achieves Over 100% Annual Net Revenue Retention
“I mean, in aggregate, we try and look at it across a few cohorts. Right. So that it's like, it makes sense. And I would say yes, cause there's, you know, normally in SAS you have a lot of upsell opportunity, right?”
Reid: Sortable Maintains Roughly 95% Publisher Logo Retention
“Oh, it's like 90, yeah, so this doesn't factor in upsell, but it's like 95%, something like that.”
Reid: Sortable raised $1.4M for seed capital and buyback
“That was raised sort of on the onset as seed capital, but also as capital to do the buyback, to do part of the buyback.”
Reid: Sortable targets under six-month customer payback period
“No, we're, we work on less than six months.”