$100m in revenue selling software to 27,000 Hotels?
Cloudbeds has grown to over 2.5 million beds across 27,000 paying customers as of November 2023, and they are now expanding into fintech. The company's revenue has increased by 75% annually over the past three years (2020-2023), reaching north of $50 million today (Nov 2023).
Cloudbeds aims to achieve $100 million in revenue in the next year (2024).The company's CEO, Adam Harris, discussed their journey from having $10 million in annual recurring revenue (ARR) to $50m+ today. Cloudbeds is focused on simplifying and digitalizing the hotel industry, offering an integrated platform for hotel management and operations, and they are also expanding into enabling direct guest transactions. https://cloudbeds.com/
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Timestamps:
0:00 - Introduction
1:20 - Impact of Recent Market Trends on Cloud Beds
3:30 - Evolution of Cloud Beds since 2018
5:45 - Cloud Beds' Customer Base and Offerings
8:10 - The Role of Engineering at Cloud Beds
10:15 - Expansion of Fintech Services
12:30 - The Fintech Opportunity
14:45 - Revenue Model and Future Growth
17:20 - Targeted Advertising and Booking Engine
20:10 - Potential Expansion into Lending Services
22:30 - Sequencing Challenges in Market Expansion
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By the numbers.
See charts and graphs here: https://getlatka.com/companies/cloudbeds
$10 million of Revenue in 2018.
Over 2.5 million beds.
27,000 paying customers.
75% compound annual growth rate (CAGR) over the last three years.
North of $50 million of Revenue.
$100 million revenue goal for the next year.
757 employees.
$250 million raised in venture capital.
41 countries around the world.
Over 10 billion dollars in Gross Merchandise Volume (GMV) for reservations.
20% of the total GMV related to payment processing.
$100 billion of bookings by booking.com and Airbnb.
400 different partners in the marketplace.
9,000 customers in 2018.
22,000 customers in 2021.
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