SugarCRM Worth Around $350M
Updated · Dec 28, 2010
A new report by research firm NeXt Up and reported on VentureBeat says that SugarCRM, a developer and provider of open-source customer relationship management (CRM) software, is worth somewhere in the range of $350 – $360 million.
“The open source CRM provider is expected to bring in around $107.7 million in revenue in 2013 and $95.8 million in 2012, according to the report. That’s peanuts when compared to Oracle’s latest earnings report (which indicated that the company brought in $8.6 billion in a single quarter). But for a company that was founded only six years ago and one that charges half of what most CRM providers charge for open source software, it’s pretty good.
“The CRM space has exploded because it helps businesses of any size run more efficiently. It can provide a business with a number of tools that can help them handle customer service. Most come with analytics suites that help executives figure out which programs are working and which ones aren’t.”