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Pini Yakuel

๐Ÿ‘ค Speaker
192 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
1066 Optimove CEO: "Conditions Were Right To Stop Bootstrapping w/ $20m Raise"

We can do monthly in advance if they insist.

SaaS Interviews with CEOs, Startups, Founders
1066 Optimove CEO: "Conditions Were Right To Stop Bootstrapping w/ $20m Raise"

So the company was launched in 2009 as essentially, in a way, a consulting gig around machine learning and data science and CRM automation.

SaaS Interviews with CEOs, Startups, Founders
1066 Optimove CEO: "Conditions Were Right To Stop Bootstrapping w/ $20m Raise"

But everything we do today, we did manually with people and presentations and Excel files.

SaaS Interviews with CEOs, Startups, Founders
1066 Optimove CEO: "Conditions Were Right To Stop Bootstrapping w/ $20m Raise"

Throughout the years, for the first three years, we've accumulated money through this agency business.

SaaS Interviews with CEOs, Startups, Founders
1066 Optimove CEO: "Conditions Were Right To Stop Bootstrapping w/ $20m Raise"

And in 2012, we actually launched the brand OptiMove, the software product OptiMove.

SaaS Interviews with CEOs, Startups, Founders
1066 Optimove CEO: "Conditions Were Right To Stop Bootstrapping w/ $20m Raise"

And we, I think a year more into the future, so 2013, we probably completed the pivot to fully become a SaaS business and not a service business.

SaaS Interviews with CEOs, Startups, Founders
1066 Optimove CEO: "Conditions Were Right To Stop Bootstrapping w/ $20m Raise"

Oh, no.

SaaS Interviews with CEOs, Startups, Founders
1066 Optimove CEO: "Conditions Were Right To Stop Bootstrapping w/ $20m Raise"

So ever since that time, 2013, we killed the agency business.

SaaS Interviews with CEOs, Startups, Founders
1066 Optimove CEO: "Conditions Were Right To Stop Bootstrapping w/ $20m Raise"

So today, 12% of our business comes from services.

SaaS Interviews with CEOs, Startups, Founders
1066 Optimove CEO: "Conditions Were Right To Stop Bootstrapping w/ $20m Raise"

Today, 12% of our business comes from services and 88% comes from SaaS licensing.

SaaS Interviews with CEOs, Startups, Founders
1066 Optimove CEO: "Conditions Were Right To Stop Bootstrapping w/ $20m Raise"

So we work today with around 300 brands.

SaaS Interviews with CEOs, Startups, Founders
1066 Optimove CEO: "Conditions Were Right To Stop Bootstrapping w/ $20m Raise"

Note that one customer can have more than one brand, right?

SaaS Interviews with CEOs, Startups, Founders
1066 Optimove CEO: "Conditions Were Right To Stop Bootstrapping w/ $20m Raise"

Especially when you sign with a company that owns multiple brands or multiple entities.

SaaS Interviews with CEOs, Startups, Founders
1066 Optimove CEO: "Conditions Were Right To Stop Bootstrapping w/ $20m Raise"

So it's 300 brands.

SaaS Interviews with CEOs, Startups, Founders
1066 Optimove CEO: "Conditions Were Right To Stop Bootstrapping w/ $20m Raise"

It's on our site.

SaaS Interviews with CEOs, Startups, Founders
1066 Optimove CEO: "Conditions Were Right To Stop Bootstrapping w/ $20m Raise"

And we're 150 people in the company.

SaaS Interviews with CEOs, Startups, Founders
1066 Optimove CEO: "Conditions Were Right To Stop Bootstrapping w/ $20m Raise"

No, no, no.

SaaS Interviews with CEOs, Startups, Founders
1066 Optimove CEO: "Conditions Were Right To Stop Bootstrapping w/ $20m Raise"

That's what I know.

SaaS Interviews with CEOs, Startups, Founders
1066 Optimove CEO: "Conditions Were Right To Stop Bootstrapping w/ $20m Raise"

So it's a, I forget the exact number, but essentially it's a, sometimes a company could have more than one brand.

SaaS Interviews with CEOs, Startups, Founders
1066 Optimove CEO: "Conditions Were Right To Stop Bootstrapping w/ $20m Raise"

I think the average is probably 1.4 or something like that.