You launched the new marketplace last June. What’s gone down well with your MSP partners, and are there any areas that need work?
Nick: In June when we we stood on stage and [Pax8 Chief Product Officer] Libby [McIlhany] showed Storefronts and Opportunity Explorer, that was us raising the sail to catch this next big wind that’s coming.
And we did see great success. We saw 50% of our partners log into Opportunity Explorer.
MSPs of old typically have customers on the left-hand side and products on the bottom axis, and it’s literally an Excel spreadsheet. And so Opportunity Explorer was, ‘hey, here is the next logical product you should be selling to every customer – it’s just a better way to manage your business… and then instead of sending them a quote of the next logical product they should be consuming next, why don’t you send this Storefront that they can interact with and keep interacting with until they’re ready – until they’ve hit step 11 in the digital journey and a human being needs to reach out and have contact with them?’
When you do that, the partner feedback starts flooding in. Partners said, ‘oh my gosh, there are so many things I would like to do with the Storefronts’, including, ‘hey, I get these five things from you Pax8, but I’d like to wrap my own services around it and then publish a good, better, best offering in that same Storefront’.
Storefront and Opportunity Explorer were the June launch, but in our EMEA show, we launched what’s called Solution Builder, which was exactly what partners asked us for.
That was also received with a lot of partner sentiment that was very positive around, ‘thank you, this was the missing piece to make Storefront a complete tool for me to use’.
How large is Pax8 now? I read $2bn revenues recently (see here). What metrics can you give me?
Scott: We’re almost 2,000 employees. We’re a private company, so we don’t disclose financials. I think you’ve got some of the dimensionality defined there on our top line already.
We are continuing to grow this business around the world. This is a model we think is extremely scalable. And we believe in our partners, we believe in their success, and it’s a global phenomenon. We see the SMB and midmarket as the backbone of the world’s economy, so we pay attention – we serve the underserved.
This is what you can attribute all this growth to – our commitment to the success of our partner ecosystem and our commitment to the success of the small medium businesses out there.
Interview continues on following page…
