By the numbers: Arc XP brings in roughly $40-$50 million in annual recurring (subscription-based) revenue (ARR), sources told Axios.
Catch up quick: The Washington Post launched Arc XP in 2015, then called Arc, with the backing of owner Jeff Bezos.
WaPo to keep software business, despite sale talks
ow, it’s cutting back on its professional services business in favor of pushing more aggressively into selling software licensing deals, which are more lucrative and less capital intensive.
Details: Looking ahead, the company is making significant changes to begin growing revenue and profits faster than it has done to date.
It’s developing a much more robust sales and customer services infrastructure, as opposed to investing the vast majority of its hiring resources in engineering.
The goal, King said, is to triple the number of customers it signs per month, which is typically around 1-3 new companies.
In the months since King was hired, the company restructured its team and hired new senior leaders in revenue. Scot Gillespie, Arc XP’s longtime engineering lead, exited the company amid those changes earlier this year.
Oh, this is pushing its software services business more aggressively to sell software licensing deals, which are more profitable and less capitalized.
King said the goal is to triple the number of customers per month, which is usually about 1-3 new companies.
remains the largest client base of the service.
Within months of King’s appointment, the company restructured its team and hired new senior leaders in the revenue department. Scott Gillespie s longtime engineering lead, left the company in the midst of those changes earlier this year. WaPo to keep software