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Can Pexip crash Zoom's party?

by
Mario Gabriele
The Generalist
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Pexip is a videoconferencing software company, which has a security focused approach.

Important Stats:

  • Pexip has 70 Fortune 500 customers.
  • The video conferencing market has a 23% CAGR and is expected to be worth around $20B by 2023.
  • Pexip is targeting a valuation of $620MM, and its shares are priced at $6-9.
  • Pexip achieved $36mm in 2019, of which 97% is recurring.
  • Its software application, Infinity, brought in 73% of revenue while its SaaS offering, Cloud Services, provided the remaining 27%.
  • Its net customer retention rate is 99%.

Management:

  • The management team contains many individuals with long careers in the software and videoconferencing space including cofounders Giles Russell Chamberlin and Tom Erik Lia and CEO Odd Sverre Ostlie.

Investors:

  • Norwegian Investment firm Stavanger Venture is top investor in Pexip.
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