Momentum fueled by doubling of user base, record quarter-over-quarter bookings growth.
PALO ALTO, Calif., Jan. 4 /PRNewswire/ — Socialtext enjoyed a record-breaking year in 2009, setting its highest quarter-over-quarter bookings growth in the company’s history. Businesses are turning to Socialtext’s social software platform to gain higher levels of employee engagement, commitment and performance not achievable in the past. As the leading enterprise social software company moves into 2010, it expects continued growth in new bookings and renewals, and another record year in overall bookings and revenue.
“In 2009, there was a collective awakening about the value of greatly improved knowledge flows among a company’s greatest asset, its people,” says Eugene Lee, Socialtext’s CEO. “In 2010, social software will become a staple for enterprises looking to improve the way their employees communicate and get work done.”
Large and midsized enterprises across many industries — including media, health care, manufacturing, and technology — have deployed Socialtext so their employees can collaborate more easily and tap each other’s expertise, enabling them to stay connected, aligned and informed. With greatly improved knowledge flow and teamwork, these companies can now respond faster to changing market conditions and new revenue opportunities. In doing so, they better meet the needs of their customers.
“Socialtext got all my smart people pulling in the same direction.”
Don Smith, Vice President of Customer Service, OSIsoft
“People call it the single most useful tool that Davies has introduced to staff, period.”
Brandon Edwards, President & COO, Davies
To meet customer demand for its enterprise social software platform, Socialtext is expanding, hiring across multiple departments in 2010. While Socialtext is looking forward to the coming year, highlights from 2009 include:
- From Q1 to Q4, the company grew bookings by more than 200 percent.
- The company grew its customer base to 6,500, while active users doubled.
- Each quarter, the company beat its record for renewal bookings.
- Bookings growth from customer expansions nearly tripled, in large part due to organic adoption of Socialtext’s fully integrated social software platform inside companies.
- Socialtext released its Microblogging appliance, allowing companies to deploy secure, private microblogging enterprise-wide very quickly, and then expand into other uses of the Socialtext social software platform later, such as deploying a social intranet, a social corporate directory, and letting the activity streams and other automated mechanisms do the work of keeping the organization informed.
- Socialtext shipped SocialCalc, the first and only social spreadsheet integrated with a social software platform, developed with VisiCalc creator Dan Bricklin. SocialCalc has allowed companies to stay in touch with the state of the business.
- Socialtext Desktop allows people to access the Socialtext platform via a fast Adobe AIR app, providing a real-time experience for Activity Streams and Signals.
- The new Socialtext Mobile brought the enterprise social software platform to employees on-the-go.
- The company’s new service partners program complements their in-house professional services organization and ensures customers get the fastest adoption and path to strategic business results.
- The company launched a “freemium” package that allows companies to get up and running with secure microblogging in minutes, providing a replacement for microblogging networks that have cropped up organically among employees, and that are neither secure or IT-friendly.
“Once people saw what they could do with Socialtext, each business unit started their own social software revolution.”
Steve Brewer, Customer Connection Mgr. & Systems Integration,
“With microblogging from Socialtext, people understand each other more, and they know what others are doing. This lets us respond more quickly to new opportunities.”
Tim Eby, General Manager, St. Louis Public Radio.
“With SocialCalc, I can go in at one point in the day and see what’s going on in all our active campaigns right now. It helps us distribute information and knowledge faster, so we can react more quickly.”
Dave Ball, Vice President of Consumer Marketing, Meredith Corporation.
As the enterprise social software leader, Socialtext applies Web 2.0 technologies such as microblogging, social networking and wikis to the critical challenges facing large and mid-market businesses. Socialtext’s enterprise social software platform allows employees to share expertise, speed workflows and get their jobs done faster. Socialtext provides hosted and appliance-based solutions to more than 6,500 customers world-wide, including EgonZehnder, Epitaph Records, Mayo Clinic, McGraw-Hill, OSIsoft, Symantec and The Washington Post. Learn more about Socialtext at www.socialtext.com.