So I’d say in summary, and then we can get on with the questions and answers. It’s a massive market opportunity. We’d talk about a $26 billion market and the part of that that’s collaboration proper was about $8.4 billion. There are lots of dusty old enterprise portals and corporate intranets that are lying around, not being used by employees, trying to become more collaborative and become more productive in the workforce.
Jive is the clear market leader anyway you want to cut it, a number of paying customers, Gartner Magic Quadrant Leader, Forrester Wave leader. The clear choice from a technology breadth and depth in our platform, the ability to deliver it on mobile platform, the ability to deliver it out of the cloud as well as on a private premise cloud for our regulated industry customers.
It’s disruptive; the ability to deliver this kind of social software into the enterprise is new. It is different. It represents a massive opportunity for all enterprise software companies, but Jive as the market leader is holistically focused on just this aspect, it’s high growth, we reported in the second quarter greater than 50% revenue growth and greater than 40% billings growth.
And we have a very strong and experienced management team, which is the third public software company that I’ve led. I’ve been on Jive’s Board for the last five years. I became CEO at the beginning of 2010. We’ve recently added Jay Larson to our management team. Jay was the former Head of Worldwide Field Operations at SuccessFactors having worked for me prior to that at Mercury Interactive for a number of years.Read the rest of this transcript for free on seekingalpha.com
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV