Assertion certainty 4/5 debate potential 1/5

Bullhorn reached $40 million ARR prior to its 2012 Vista acquisition

Art Pappas · 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+ · Sep 2, 2019 · at 10:18

Art Pappas is the founder and CEO of Bullhorn. He is discussing Bullhorn's financial metrics at the time Vista Equity Partners acquired the business.

0:00 / 0:01exact quote · 1.7s

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“20 12 was like 40.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

The claim, plainly

Bullhorn had approximately $40 million in ARR in 2012 when acquired by Vista Equity Partners.

a quote alone can be ambiguous, so this restates it with the references and context of the conversation around it resolved. AI-written; the tape below the player is the source.

How this resolves

Verification couldn't pin this to a public evidence class, so it stays on the record with its date, unassessed rather than guessed.

not yet assessed: in the resolution queue (grounded fact checks run in waves; this one's next)

Mentioned

Bullhorn Vista Equity Partners

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More from Art Pappas

Assertion Not checkable as stated

Bullhorn operates at a run rate of over $200 million ARR

“Correct.”

Art Pappas Sep 2, 2019 ▶ 2:29 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+

Disclosure

Bullhorn sets sales quotas at 3x to 5x on-target earnings

“So in the SMB, it's about Three to three and a half. And then in the enterprise, it's a full five.”

Art Pappas Sep 2, 2019 ▶ 19:52 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+

Disclosure

Pappas enormously regrets selling early secondary shares during the Vista deal

“No, with the Vista deal, I did quite a bit and regretted that actually. Like enormously because, you know, you saw what happened to the revenue, right? Like had I just held on”

Art Pappas Sep 2, 2019 ▶ 21:44 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+

Assertion Not checkable as stated

Art Pappas: Bullhorn has 10,000 paying customers primarily in US and EMEA

“10,000 paying customers. Majority are in the United States and EMEA.”

Art Pappas Sep 2, 2019 ▶ 3:06 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+

Assertion Not checkable as stated

Bullhorn maintains an average annual contract value of approximately $20,000

“Yeah, that's right.”

Art Pappas Sep 2, 2019 ▶ 3:23 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+

Assertion Not checkable as stated

Bullhorn blew its entire $4 million Series A on its original idea

“Then we raised like nine months in, we raised four million dollars series a, which was promptly blown on the original marketplace idea.”

Art Pappas Sep 2, 2019 ▶ 5:26 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+

Bullhorn reached $40 million ARR prior to its 2012 Vista acquisition

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