Today is a big day at CleverTap. Arguably the most significant step in our journey towards delivering unprecedented value and unlocking substantial competitive advantage for our customers. Today, we significantly accelerate our vision of holistically solving the user retention problem for consumer digital brands globally.
I’m very excited to announce that CleverTap is acquiring San Francisco based Leanplum, a leading multi-channel customer engagement platform.
This is a wonderful story of two similar companies joining hands to become “Better Together” in order to innovate faster and bring the best value for our customers globally. As the two teams were exploring this transaction over the past few months, it became abundantly clear that the combined value proposition is exponential. This is a case of 1 + 1 adding up to 11, instead of 2 😀
There are clear synergies around:
- Our product offerings
- Our geography coverage of the world, and
- The industry segments we cover today
Most importantly, this deal is about people, and while geographically diverse, we also realized over the past few months how much in common the culture and the values of the two companies are. Going forward, the integration of the two teams should only be a reinforcement of the culture and the values we currently practice within each company.
This acquisition will immediately lead to a truly global company that is privileged to serve more than 1,200 customers across 100+ countries, with more than 600 passionate and talented employees residing across 12 countries.
However, what is truly exciting about this acquisition is the future potential of this combined entity. Below is what we will achieve in the future for the following important stakeholders:
For our customers:
- Significantly increasing the number of users, ARPU and LTV
- A single source of truth, one single dashboard control in real-time, and
- A tightly integrated, unified product that allows creating delightful user experiences effortlessly within and outside the app, across multiple form factors because it:
- Makes an unlimited amount of first party data actionable in real-time
- Works at massive scale, for both messaging and app personalization
- Enables AI & ML driven insights, automation, and recommendations
- Includes testing, experimentation and optimization across multiple channels and form factors
For our employees:
- A bigger global playground to perform at and make your dreams come true
- Significantly increased personal and professional growth opportunities
- Personal growth because of exposure to a lot more diversity and multiple cultures
- Professional opportunities for faster departmental and corporate growth because of being a bigger and a global high growth company
- The best place to work in MarTech, which means:
- Doing meaningful work that can be used to create delight for every mobile user in the world
- Opportunity to solving challenging problems at Internet scale
- Building World class, industry first, category creating products
For our investors and shareholders:
- A $100M ARR company before the end of 2022
- A profitable $500M ARR company before the end of 2025
- The World’s #1 Retention Cloud, bringing unprecedented innovation and deep tech to digital brands globally
Last but not the least, CleverTap and Leanplum are also better together because we share a deep commitment to equipping digital consumer brands to deliver positive business outcomes in times that will be remembered as the most disruptive in our history.
The shutdown of physical stores and businesses has opened new opportunities for digital services, mobile apps, and multichannel marketplaces. To survive and thrive, companies must design multiple journeys and approaches that treat users like individuals. They must infuse humanity, empathy and relevancy into marketing and messaging. This acquisition accelerates everything and puts the combined entity on a much faster path of innovation towards solving for these needs.
I welcome, with all my heart, all the Leanplum employees to CleverTap. I cannot wait to start the journey of learning and growth at this new combined CleverTap. I am proud of what we have accomplished in a relatively short period of time. However, most of all, I look forward to a lot of fun and success going forward in order to fulfill the immense potential of the future.
Onwards and upwards 🚀🚀