No. of Recommendations: 0
Appuri, is a machine learning company with a product that analyzes etransactions to determine who will and who will not purchase and why, and giving suggestions to cause more transactions to go through.

It raised $6.5 million in funding and had less than $1 million in revenues at the time that it was purchased for $60 million or so.

What we have to Docusign is a base of customers and branding that is open to being marketed into. With this base one either has to have faith that management will pull this off or not. How is Appuri different from anyone else? According to Appuri they are different because they are a cloud service and their only real competition are home built versions that may be built in-sources by IT.

Thus, at least we know it is another cloud service. A service that is quite useful obviously, but I doubt unique. But maybe it is, who knows? Further, there are few companies like Docusign that have a more than $300 million a year sales budget and such a huge existing base of customers.

As for SpringCm and what that brings, 12x thinks not so much about it, but the functionality the sample companies are showing us is profound for their businesses. How easy is it replicated?

Lets use an example of legal practice software. I spoke about this before. The software I use is the ONLY legal practice software not just built on top of but built AS PART of Outlook. There is a ton of competition out there, each with their own marketing messages, etc. But as I looked at each and every one of them none of them could natively support Outlook email. Being able to do so makes a profound difference. I mean utterly profound. The other practice management software allows you to link Outlook emails to files, but this takes additional steps and the linkage is not complete and creates frustrations that you don't even realize until you actually try a program that is built with Outlook.

Further, no other program has the same built in billing software that is completely integrated natively. Thus, they are practice management, one would never know Amicus has those special qualities given the how competitive the market is, but still Amicus is that special in regard. I have looked, I have tried. There is no comparison. It is not like this is rocket science.

In the same manner it is very difficult for us to judge individual SoA packages against each other. All we can do is follow the money...follow the money.

With Docusign, they paid more than 60x revenues for Appuri, they paid 11-13x revenues for Spring. They are extremely excited. We have no money to follow yet though.

Tinker
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