One in Ten Thousand
Today we announced some truly fantastic news: a new investor, Vista Equity Partners, is acquiring Bullhorn. This is exciting for a whole bunch of reasons. One is that Vista specializes in working with technology firms that focus on niche markets – like staffing and recruiting software. The people at Vista have walked a mile in our shoes while building their business by supporting firms like Bullhorn. They have a great track record of helping their portfolio companies grow and lead their markets.
Independence Day
Another reason I’m so pumped is because Bullhorn will remain entirely independent. I, along with our incredible management team, will continue to lead the company through the next stage of growth. We have some very big goals to expand our geographic and product footprints over the next few years and Vista is the ideal financial partner to help us.
Huge Opportunity
Three powerful technology trends are converging right now: cloud, social media and mobile. This is one of the most exciting times in technology since the advent of the personal computer, and Bullhorn is poised to help the world’s staffing and recruiting professionals turn these trends to their advantage. Our efforts to build the recruiting industry’s first open partner ecosystem and the world’s largest social recruiting platform have set the stage for explosive growth over the next few years. Vista’s investment will help ensure we capitalize on this amazing opportunity.
Incredible Odds
I recently found out that the odds of a start-up reaching a successful acquisition of this size is one in ten thousand. It’s truly humbling to me. I’m still trying to get my head around it. Even fewer start-ups reach a milestone like this AND get to keep building toward their goals. I’m a religious guy, so I know who I have to thank.
Speaking of Thanks
We could never have done this without the help of some very special people. First and foremost, our customers. You all took a leap of faith with us in 2000 when we asked you to let us host your data in the cloud (of course, we called it “ASP” back then). Without the faith and support of our great customers along the way, we could never have made it to this point. We’re thrilled to be able to continue this journey together. Thanks also goes to Bob Davis of Highland Capital Partners and John Simon of General Catalyst Partners. They pushed me to stretch my limits as a CEO. I have learned so much from them over the past four years and I’m grateful for all that they’ve done for us. To all the entrepreneurs reading this, if you ever receive a term sheet from one of these two guys, sign it – you won’t regret it.
Thanks also to my amazing team. I work with 200 of the most talented people on the planet. Bullhorn is an intense place. We all work incredibly hard to create amazing products and deliver fantastic service. And we have a blast every day doing it. I love my job and it’s all of you that make it so special. By the way, we’re hiring, so if you want to join us as we take the next hill, let’s talk. Huge thanks also goes to my two co-founders, Roger Colvin and Barry Hinckley – it’s hard to believe our little 1999 “dotcom” is all grown up. Lastly, thanks to my wife, Nicole, and my wonderful family. There’s no way I could have done this alone. On behalf of the entire Bullhorn team, thank you all. I can’t wait to see you all at our user conference, Bullhorn Live, next week!
Art Papas co-Founder and CEO Bullhorn, Inc.
