The Ledger
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Commercial open-source succeeds when the free software is painful to scale.
“The open source has to be good enough to get started, good enough, easy to get started and use it, so it will have mass distribution, but it has to get to a point where it's hard to scale it, it's hard to make it production grade, and this is where commercial …”
Levy: Logz.io ranks number one on Google for ELK production searches
“Today, we would we're the number one contributor of content to the ELK community. So if you search Google for ELK or AWS, ELK in production, we're number one in Google in all of these searches.”
Levy: Logz.io competes mostly with engineers managing open-source tools
“We actually compete mostly with engineers setting up their own open source, and that's an interesting competition.”
Customer churn for Logz.io accounts paying over $10,000 annually is near zero.
“And on the, once you pay, I would say, 10 K a year, I would say very close to zero.”
Levy: Security teams represent about 25% of Logz.io's customer base
“About a quarter of our customers are actually security teams that also need to monitor log files, monitor log events, and kind of correlate to understand threats and attacks.”
Logz.io enterprise pricing starts at $50K, scaling to hundreds of thousands.
“One of them is the SMB. Usually would pay about 10 K, 10 to 15 K a year for the product. And on top of it, we have what we call SME, small, medium enterprise would usually pay 50 K per year minimum, and then would go to a few hundred K's for the high end enter…”
Logz.io's last 10 closed deals averaged approximately $40,000 in ACV.
“If you look at the last 10 deals, probably around 40 K.”
Levy: The open-source ELK stack gets about 500,000 downloads per month
“So just to say ELK has about half a million downloads a month.”
Levy: Logz.io serves 1,000 companies globally, with a few hundred paying
“We have about a thousand companies from 80 different countries which use Logs.io. A few hundred of them are paying customers. A few hundred of them are free users.”
Logz.io generates significantly more than $3.6 million in annual recurring revenue.
“We're doing higher, we're doing significantly higher than that.”