Comments on: Kaseya CEO Gerald Blackie: We Won’t Go Public

By: Joe Panettieri

Joe Panettieri — Wed, 26 Jan 2011 23:02:31 +0000

David: Thanks for the note. A few thoughts, answers and guesses…

1. Kaseya estimated revenues: Yes, I do think around $100M is accurate. But Kaseya and most of its rivals are privately held so it’s difficult to estimate revenues. Also, no word on profit margins. Plus, different MSP software providers may use different accounting methods, so apples-to-apples comparisons are difficult.

2. Why doesn’t Kaseya disclose revenues?: They’re privately held. No obligation to do so.

3. How did Kaseya Grow?: Remember, Kaseya’s MSP software business is one slice of a larger pie. Generally speaking I think the bulk of Kaseya’s revenues come from enterprise software sales into corporate IT departments, rather than sales into MSPs and VARs as users.

A disclaimer for all readers: My thoughts above are educated guesses based on headcount statements and Kaseya statements made at the company’s annual Kaseya Connect user conference. I don’t know how Kaseya organizes/realizes its current and future revenues, etc.

Best
-jp

By: David

David — Wed, 26 Jan 2011 17:53:17 +0000

Joe, it has indeed been interesting to watch the rise of managed IT management companies, but Kaseya does seem to be ahead of the pack. I’ve seen many other similar firms with revenues in the $5 – $10m range, but Kaseya claims to be around the $100m mark. Based on your knowledge, and as you say with a payroll of around 400 people, is this an accurate revenue projection? If they are indeed $100m, then two questions: how did they grow so large so fast (from $20m in ’07), and why don’t they just divulge their revenue? In my experience, companies who are substantially lower than $100m will not divulge but will say “just below $100m” but companies who have successfully passed the $100m mark will be open about it, since it’s not an easy accomplishment.

By: Joe Panettieri

Joe Panettieri — Fri, 08 May 2009 22:12:37 +0000

Hey Mike, Actually, yes I did reach out to Gerald and Kaseya, and the company replied with an in-depth comment about the alleged situation. We posted the blog back on February 3, 2009. Here it is, for those who missed it.

By: Mike

Mike — Fri, 08 May 2009 20:17:41 +0000

Joe-
Did you ever get a chance to follow up with Mr. Blackie? I have heard some more lately about some of his claims and I really believe that should have some of the facts. I do not have an agenda… just an appreciation for facts!
Take care Joe, hope all is well.
Mike

By: Joe Panettieri

Joe Panettieri — Fri, 30 Jan 2009 21:12:58 +0000

Mike: I appreciate the note. Feel free to contact me at joe [at] ninelivesmediainc.com. My contact information is available to all readers, and I will always listen to readers who take issue with our approach/coverage. But I will also reach out to Kaseya directly for comment on the statements above. It’s late on the East Coast on Friday. Stay tuned for a follow-up from MSPmentor the week of Feb. 2.

By: Mike

Mike — Fri, 30 Jan 2009 20:34:37 +0000

Joe-
I just came across this column. Mr Blackie is a very charming and intelligent gentleman. He also has some special talents for sensing coming market trends. I must tell you, however, that his past business ventures have left many folks reeling. Alerio Corporation, which was to have delivered an industry changing payroll system chewed through 12M of venture capital, too many good people to name, and all there was to show for it was some really nice Aeron chairs. His prior issues with Platinum are a matter of public record. Luis is probably another one of the casualties. Some he keeps around (ie Jim Alves). Others he discards. Feel free to contact me, I would be glad to provide you with citations and verifiable details. I offer this because you fill an important void in our industry, do a great job reporting, and I do not want to see you embarrassed. Suffice to say he (Mr. Blackie) is longer welcome in Sarasota, FL (many, many creditors and ex partners). I would treat any numbers that he provides (revenue, profit, clients) with an abundance of caution. Best, Mike

By: Joe Panettieri

Joe Panettieri — Sat, 01 Nov 2008 00:11:28 +0000

Louis: So, I’m lazy after getting off a 24-hour flight from Australia and blogging 15 consecutive days across four web sites?

Feel free to read and comment on MSPmentor, but don’t ever call me lazy as I work 24×7 to drive new content and interact with our readers.

By: Louis

Louis — Fri, 31 Oct 2008 22:38:21 +0000

Ok, Joe. How about “lazy.”

By: Joe Panettieri

Joe Panettieri — Tue, 28 Oct 2008 21:26:52 +0000

Louis: There’s a difference between being naive and being slammed with deadlines. When we fail to report something on MSPmentor, we welcome community-based comments, links and and feedback such as yours.

I gave the link a look but I’m running to an event (full disclosure: The event is hosted by Kaseya). I will give the document a closer read later today.

In the meantime, we welcome constructive criticism. But please don’t call me naive.

By: Louis

Louis — Tue, 28 Oct 2008 18:39:11 +0000

Don’t be so naive. Ever heard of Google?

http://www.sec.gov/litigation/admin/3437185.txt