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Co-Founder and CEO of EchoSign from inception through tens of millions in cash-flow positive SaaS revenue and acquisition by Adobe Systems Inc. Jason then served as Vice President, Web Services at Adobe, where EchoSign was named the most successful acquisition of 2011-12, posting 199% YoY growth.

3 responses to “A Real Life SaaS Case Study: Eloqua. Marketo. Pardot. There Are 3 Different Paths to Success, My Young Padwan.”

  1. Joe Zuccaro


    Pretty good insight. Thanks for sharing.

  2. Bobby Carp


    Ditto Joe’s comment, thanks for sharing. I was #6 at Marketo, so while I like your $4B pre-money comment, how are you getting there on a presumed $70M ARR? I know Marketo is growing much faster than Eloqua, but Eloqua has a $644M cap on the $100M ARR. I would assume Marketo would be worth around 10-15 x ARR or $700M to $1B. Why are you thinking $4B?


  3. Jason M. Lemkin

    Well, it was meant to be slightly aspirational … but it you look at the very top SaaS companies, you see huge inflation in multiples, to 20x ARR or even more. Add in the scarcity component, and the fact VCs are OK leaning forward on logo deals — $4b isn’t out of the question. $2b seems very practical.