That decline is larger than the multichannel retailer’s overall 5.8% sales decline.
Strong 2010 Performance Across All Market Segments Reflect Continued Leadership and Widespread Demand.
Belmont, CA — February 1, 2011 — Growth metrics for 2010 underscore Vindicia’s market leadership in providing SaaS billing solutions that help digital leaders optimize customer retention and customer acquisition through integrated marketing best practices, and a cost-effective means to ensure PCI compliance without sacrificing control over their customers’ buying experience.
Key Growth Metrics
- GAAP revenue up 80%
- 100% increase in clients in production
- Saw largest single month, revenue-wise, in the company's history in December 2010
- Equally strong growth across all market segments – software, dating, gaming and media/content
- Handled more than $2 billion in transactions through its CashBox system
- Vindicia clients generated an additional $50 million in revenue through the unique CashBox customer retention and chargeback management capabilities
- Handled nearly 400,000 chargebacks
- Expanded client roster with high-profile wins including Next Issue Media, Mind Candy and Encyclopedia Britannica
- Consistently recognized as one of Silicon Valley’s fastest-growing companies for rapid revenue growth
- Increased employee headcount by 40% across sales, client services and engineering to support demand and moved to larger, Belmont, Calif. headquarters
- Strengthened management team with appointments in finance and sales – Mark Resnick (Chief Operating Officer and Chief Financial Officer) and Steve Booth (Vice President, Regional Sales)
Leading Customers, Widespread Adoption
- Vindicia clients who lead their segments: Activision/Blizzard, Intuit, TransUnion, Symantec
- Top customers in key segments:
Software: Symantec, CyberDefender, Intuit
Online gaming: Activision/Blizzard, Cryptic Studios/Atari, Curse, hi5, Mind Candy
Media and content: Boxee, TransUnion, deviantART, WebTab, Next Issue Media, TrustedID
Online dating: Online Buddies, SpeedDate, Avid Life Media, SNAP Interactive
Product Line Enhancements
- Introduced Hosted Order Automation (HOA) solution to completely offload the PCI burden from a merchant
- Expanded spectrum of payment method support to include PayPal, InComm-based prepaid cards, Electronic Check (ACH in the United States), European Direct Debit (ELV in Germany and Austria), and Boleto Bancario in Brazil to support both subscription billing and microtransactions
- Significantly enhanced customer retention capabilities including more powerful “retry logic” and Account Updater support to provide greater flexibility to manage payment failures
- Launched new proration and hierarchical account features to support more sophisticated business models
- Gene Hoffman, Chairman and CEO, Vindicia: “Our goal has always been to support the business needs of digital leaders with solutions that deliver significant value beyond simple automation. The key to market leadership lives within the data collected during the billing process – not just the process itself – and the rewards are dramatic. Our clients’ leadership across their own market segments is a testament to that, and that they gained $50 million in additional revenue through increased customer retention shows the enormous impact of our SaaS billing solution.”
- Ben Kepes, Founder and Analyst, Diversity Analysis: “As markets within the digital landscape continue to mature and expand – everything from software to online media – so too will the SaaS-related technologies and markets that serve them. Success like Vindicia’s is a testament to the importance of online billing services.”
Vindicia is a leading provider of SaaS billing solutions that help digital leaders optimize customer retention and acquisition through integrated marketing best practices. Over the past twelve months, Vindicia clients sent $2 billion through our system, billed in every global region, and generated $50 million in annual incremental revenue. Our clients include Symantec, TransUnion Interactive, Intuit, Activision Blizzard, Bloomberg and Next Issue Media. To learn more, please visit www.vindicia.com.