Gallegos: Jitterbit would reject a $500M buyout to pursue an IPO
George Gallegos · 929 MuleSoft 2.0? Passes $40m in ARR Integration Platform as a Service · Feb 8, 2018 · at 17:35
Jitterbit CEO George Gallegos responds to host Nathan Latka's hypothetical question about whether he would sell the company to Oracle for $500 million.
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“No, we, at this point, we've got a big a big growth opportunity and an opportunity to achieve an IPO. So that's the path our investors like to see us on.”
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More from George Gallegos
Gallegos: Jitterbit's architecture is more cloud-native than MuleSoft's
“We're very similar to what MuleSoft does but we're more more, more cloudy, if you will, than say MuleSoft.”
Gallegos: Jitterbit aims for IPO and positive cashflow in two years
“We've got two years of cash in the bank and our plan is to be cashflow positive and in a position to do an IPO at that time.”
Jitterbit's annual recurring revenue is between $40M and $50M
“That's probably still less. Yeah. 40 and 50.”
Jitterbit's average customer pays approximately $50K annually
“I would say the average is in the 50,000 per year range, which is why we're not similar to a Zapier, but similar to a Mule.”