Email marketing start-up Campaign Monitor has secured $US250 million in funding from a group of US venture capital firms, according to the AFR.
But co-founder Dave Greiner said he has no plans to cash in on his hard work, now that the business he started ten years ago with Ben Richardson has received its first round of external funding — the largest ever for an Australian tech start-up.
“Five years ago I would have thought if something like this happened, ‘Great, go live on a beach’,” he told the AFR.
“But I realise now that that’s bullshit.
“You need to have a balance between time with people you love and care about outside of work but, us personally, I know I need something I’m passionate about that I can sink my teeth into,” he said.
The company — which has been profitable since day one according to the founders — allows small businesses to easily send marketing emails at a cost of one cent each.
Campaign Monitor has been running for 10 years and its Southerland office has grown to employ around 40 staff.
“We’ve always had significantly high margins, much higher than our peers,” said Greiner.
“But we’ve always been a big fan of running a profitable business . . . we’ve been pretty conservative on that front.
“Our margins will be dropping over the coming years as we invest in a little bit of sales and marketing but we absolutely plan on remaining a pretty profitable business,” he said.
There’s more here.