Times are changing. So are startup priorities. Aircall, one of French Tech’s iconic start-ups, a historical figure in the next 40, is no longer content to be a unicorn, a company valued at over a billion euros, it is claiming its new Centaur status loud and clear. – a company whose annual recurring revenue (ARR) exceeds 100 million euros. A very small club, as according to Bessemer Venture Partners there would be only 150 of them worldwide.
Having income as a reference and no longer having a valuation also allows start-ups, like listed companies, to avoid a very volatile index in times of economic crisis. In addition, investors have tended to play the lump sum card in fundraising in recent years. This means that subsequent rounds are likely to occur at lower valuation levels than previous rounds. For its part, Aircall prefers to project itself on another deadline, a mid-term IPO. Enough to get back to basics.
“It took a little over a year to hit a million in recurring annual revenue… Then another six years to cross the 100 million mark. It is an important and difficult step.“Summarizes Jonathan Angelov, co-founder and general manager of Aircall, convinced that the time has come.”open accounting“. It is also a necessary point to reassure customers and investors about the sustainability of the economic model and the company’s ability to move towards profitability. Although the company has just crossed this critical threshold, it states that it should even be greatly exceeded, aiming to reach 136 million by the end of the year. Despite this outlook, its leaders are very cautious given the economic context, convinced that it is necessary to “do more as much“. To support its growth, Aircall is hiring, but is doing so sparingly for now. Its first development plan this year included the creation of 250 jobs. In the end, there will be only one hundred, budget strict obligations. “We are sticking to the goals of the program, but have asked everyone to make an effort”, with Jonathan Angelov, convinced that we must change our habits.
Expenses are now being checked, and the hunt for savings has begun. The startup has been thinking about changing offices for some time, the project is being postponed. This paradigm shift also has its upsides, at least for employers. The mad race for talent is also coming to a halt. Gradually, the most requested profiles will have to be integrated into the new deal. It’s enough to make executives at startups and larger companies hope for less tension in the developer market, or even greater loyalty to their employers.
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.