Not too long ago, open-source technology projects were pursued in large part for altruistic reasons—they were “almost religious,” and not viewed as businesslike or potentially profitable, says Jay Kreps, the founder and CEO of newly public data company Confluent*.
Today, companies like Confluent have changed that perception. Confluent—which commercializes the Apache Kafka open-source project and specializes in continuous, real-time data processing—went public this past June and just reported its first financial quarter with more than $100 million in revenue. On this episode of the Billion-Dollar B2B podcast, Battery General Partner Dharmesh Thakker talks with Kreps about the company’s journey from a small project developed inside business-networking site LinkedIn into a large, public technology company.
Kreps offers advice for other entrepreneurs scaling their own B2B tech companies, including thoughts on:
- How to partner with big public cloud-computing providers, even when you might also be competing with them;
- How to balance a low-friction, bottoms-up sales model with enterprise sales;
- The benefits of doubling down on the cloud early on in a company’s lifecycle; and
- How to consider the decision to take your company public, even when you could continue to raise capital privately.
The views expressed here are solely those of podcast guests, not Battery.
The information provided in this podcast is solely intended for the use of entrepreneurs, corporate CEOs and founders regarding Battery Ventures’ potential financing capabilities for prospective portfolio companies. The information is current as of the date it was published. The contents are not intended to be used in the investment decision making process related to any product or fund managed by Battery Ventures. Battery Ventures provides investment advisory services solely to privately offered funds. Battery Ventures neither solicits nor makes its services available to the public or other advisory clients.
No assumptions should be made that any investments identified above were or will be profitable. It should not be assumed that recommendations in the future will be profitable or equal the performance of the companies identified above. For more information about Battery Ventures’ potential financing capabilities for prospective portfolio companies, please refer to our website. * For a complete list of portfolio companies, please click here.
Content obtained from third-party sources, although believed to be reliable, has not been independently verified as to its accuracy or completeness and cannot be guaranteed. Battery Ventures has no obligation to update, modify or amend the content of this podcast nor notify its audience in the event that any information, opinion, projection, forecast or estimate included, changes or subsequently becomes inaccurate.