Kinvey founder Sravish Sridhar reflects on M&A retention strategies following Kinvey's acquisition by Progress Software.
0:00 / 0:07exact quote · 7.7s
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“You're going to be motivated because you really want to work at the company. It's not tied to some artificial handcuffs, right? Which I think is a wrong culture.”
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More from Sravish Sridhar
AssertionPartly supported
Sridhar: Kinvey coined and created the 'backend as a service' category
“We coined the phrase and created this category, and now it's a thing.”
Sravish SridharNov 20, 2017▶ 2:35849: SaaS: Kinvey Acquired for $50m To Help Frontend Devs Be Backend Devs
Disclosure
Sridhar: Kinvey Business Edition customers pay about $24,000 annually
“The next class of customer is what we call business edition, so this is a business that is typically just doing one app and these customers, because they have higher SLA requirements and more feature-rich requirements, They pay us on an average about 24,000 do…”
Sravish SridharNov 20, 2017▶ 4:20849: SaaS: Kinvey Acquired for $50m To Help Frontend Devs Be Backend Devs
Disclosure
Sridhar: Kinvey charges enterprise clients six figures annually per instance
“And then we have large enterprise customers like Schneider Electric, Farmers Insurance, et cetera that have what we call enterprise edition, which is a pretty sophisticated version of the platform. And that's usually about six figures a year per instance.”
Sravish SridharNov 20, 2017▶ 4:40849: SaaS: Kinvey Acquired for $50m To Help Frontend Devs Be Backend Devs
Disclosure
Sridhar: Kinvey's ASP is probably $80K to $90K annually
“Yeah, we have significantly more enterprise customers than we do business edition and startup customers. So it's probably in the 80 to 90 K a year is probably our ASP.”
Sravish SridharNov 20, 2017▶ 5:08849: SaaS: Kinvey Acquired for $50m To Help Frontend Devs Be Backend Devs
AssertionSupported
Kinvey Raised $18 Million Over Six Years Prior to Acquisition
“So we raised a total of about eighteen million dollars over a period of six years before the acquisition.”
Sravish SridharNov 20, 2017▶ 6:06849: SaaS: Kinvey Acquired for $50m To Help Frontend Devs Be Backend Devs
AssertionNot checkable as stated
Kinvey Reached Millions in Revenue Starting in 2014
“We did about high six figures that year. And then we got into the millions of dollars starting in 2014.”
Sravish SridharNov 20, 2017▶ 7:13849: SaaS: Kinvey Acquired for $50m To Help Frontend Devs Be Backend Devs
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