Share, Firstbase show that supporting telecommuters is big business
If you rewind Clocking in to February of this year, Deel, a startup that helps clients hire in other countries, announced that it had built the ability to pay employees in crypto. Regardless of your opinion on the financial intelligence of such a move, Marketingwithanoy made the headlines because we’re keeping an eye on Deel.
Why? As the former startup has achieved rapid historical growth, with CEO Alex Bouaziz shares by December 2021 that it had scaled up to $50 million in self-described annual recurring revenue, or ARR. The director’s tweet indicated that Share had started the year with about $4 million in ARR.
Recall that last October, the company raised $425 million at a valuation of $5.5 billion.
Flash forward to today: Share shared that it crossed the $100 million ARR threshold, a key moment for any new technology startup, as it implies it has reached the scale of the public market — and therefore in no sense whatsoever. the word is more of a startup.
Deel’s data point regarding its historic growth comes on the heels of Firstbase, a startup that helps companies procure and deliver hardware and other remote work needs to remote workers, raising $50 million after posting something like 16x revenue growth since last April.
Supporting teleworkers is big business, it seems.
To dive into the Share news, Marketingwithanoy took a scratch on the company’s pricing page to better understand its revenue milestone and asked the company a few clarifying questions. The answers were a little vague, but we can get a little work done. Let’s discuss the deal with Share.
Share’s revenue growth
One way startups like to brag is by using the Bessemer chart with historical examples of startups scaling rapidly to $100 million in ARR in a short period of time. Here is how Share shared his own new milestone†
That made us curious.