- Zapier, a software integration startup best known for offering to pay employees $10,000 to leave the San Francisco Bay Area, tells Business Insider that it’s on a $35 million annualized run rate (ARR), a key measure of revenue.
- Zapier was founded in 2011, and has been profitable since 2014 after only raising $1.3 million in venture capital.
- Zapier also released its Software Trends Report, which reveals, among other things, that e-mail is still way more popular than team chat tools like Slack.
The startup Zapier made headlines last year when it announced a “de-location package” — an offer to pay employees $10,000 to leave the pricey San Francisco Bay Area and work remotely from literally anywhere else. Indeed, every Zapier employee works from their own homes all over the world, with no permanent office to be found.
But Zapier is noteworthy among startups for another reason, too: Zapier CEO Wade Foster exclusively tells Business Insider that the company is on a $35 million annualized run rate, a measure of how much revenue it expects to generate in a year. That’s up from a $20 million ARR in May.
Zapier has been profitable since 2014, and hasn’t raised any outside investment since a relatively meager $1.2 million in 2012, not long after it started as a side hustle among the founders. It now has 2,000 users, up from 1,000 in May. Zapier’s headcount, too, has gone up from around 60 to around 125 over the same span.
Zapier’s business is in connecting work apps to one another, automatically. For instance, to use a Zapier example, you could have every single e-mail attachment from Gmail copied into your Dropbox, and then alert you in Slack that you have a new file to review.
Foster says that the reason Read More Here