Bill Magnuson, co-founder and CEO of customer engagement platform Braze, discusses the target market scale and positioning of the Braze platform.
0:00 / 0:07exact quote · 7.6s
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“We're not built to be a kind of B to B scale platform. You know, we sell primarily into consumer scale businesses.”
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More from Bill Magnuson
Disclosure
Braze accepts 16 to 24 month CAC paybacks for Fortune 500s
“With a large fortune, 500 company, That's 60 to 24 is totally fine. You know, with a smaller, you know, bin market digital first company you know, we obviously need it to be lower than that.”
Bill MagnusonMar 4, 2020▶ 11:561684 With $60M in ARR, How Braze Drives Serious Expansion Revenue on Old Cohorts
AssertionSupported
Braze maintains six-figure average annual contract values for consumer companies
“So we work with you know, generally large scale consumer companies. And so, you know, average annual contract values are in six figures.”
Bill MagnusonMar 4, 2020▶ 1:341684 With $60M in ARR, How Braze Drives Serious Expansion Revenue on Old Cohorts
Disclosure
Braze raised $40M in six years before adding $130M recently
“The first six years of the company if you look at the financing history, we raised about forty million dollars, and now in the last about year and a half, we've actually added another 130 to that.”
Bill MagnusonMar 4, 2020▶ 2:511684 With $60M in ARR, How Braze Drives Serious Expansion Revenue on Old Cohorts
AssertionContradicted
Braze expects to reach 600 customers and 300 employees this year
“So we're coming up on about 600 customers today and, you know, we've been, we'll end the year close to around 300 employees as well.”
Bill MagnusonMar 4, 2020▶ 3:571684 With $60M in ARR, How Braze Drives Serious Expansion Revenue on Old Cohorts
AssertionNot checkable as stated
Braze maintains a gross revenue churn rate of 5% to 10%
“Yeah. Something like that. You know, and it depends on the category. Obviously the kind of more traditional enterprise fortune 500 are going to be on the lower end of that. And then when we're looking at you know, mid market digital first companies and other r…”
Bill MagnusonMar 4, 2020▶ 6:101684 With $60M in ARR, How Braze Drives Serious Expansion Revenue on Old Cohorts
AssertionNot checkable as stated
Braze expands initial single-channel contracts by 10x to 20x over time
“In other cases, you know, we've had clients that have grown 10, 20 X because we started out working with them on just one channel. And then, you know, over time we've kind of taken over all the customer communication.”
Bill MagnusonMar 4, 2020▶ 7:371684 With $60M in ARR, How Braze Drives Serious Expansion Revenue on Old Cohorts
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