Expensify CEO David Barrett supported his decision to encourage clients to vote for Joe Biden, saying that the benefits of controversial behavioral phrases far outweigh the costs.
Barrett’s October 22 email, calling the vote for President Trump a “vote against democracy,” evoked widespread reaction among the millions of Expensify users who received it, some of which were companies. He praised his support and threatened to do business elsewhere. ..
However, the criticism has put expense reporting software providers on track to generate record $ 100 million in annual recurring revenue this year, not stopping them from recording record monthly revenues in October. The milestone highlights the strength of Expensify’s business. This allowed us to risk entering politics just before the election day.
“I talked to many CEOs and they said,’You’re crazy!'” Barrett told the post in an interview. “If we’re going to get some lumps, we can probably get through them, and sometimes things are more important than business.”
“Not everyone is in the same position as us, but we can,” he adds, Expensify is profitable and has invested very little since its inception in 2008. ..
Barrett’s email caused a fuss on social media, but he said that only a small percentage of the people who received it responded, and about 90 percent of them didn’t pay their customers. Companies are paying to manage their expense reports using the software of a San Francisco-based company, but most of their users are just tracking their expenses with a free app.
According to Barrett, the email attracted potential new customers, but I don’t think it’s “immediate revenue spikes.”
“People who make decisions for their business with this kind of thing are not reactionary,” he said. “A single email doesn’t kill 1,000 employees.”
However, this email has sparked a growing interest in working at Expensify, which has 100,000 customers. According to Barrett, the company received about twice as many applications that month after the message was sent.
According to Barrett, the influx has been driven by Expensify’s “actually attracted” people, whose lean staff of 130 employees helped draft the fateful email. I did.
“We claim to have these values and we claim to support them,” he told Post. “We stood up for them in a controversial way, and that’s important only for employee-based morale and confidence.”
Expensify CEO David Barrett doesn’t regret Joe Biden’s email
Source link Expensify CEO David Barrett doesn’t regret Joe Biden’s email