FastSpring

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Bright Market, LLC
Company typePrivate
IndustrySaaS
Founded2005
Founder
Headquarters
Santa Barbara, California
Area served
Worldwide
Key people
  • David Nachman (CEO)
  • Sian Wang (CFO)
Products
  • Billing
  • Payments
  • Checkout
  • Personalization
  • Customer acquisition
  • Back office software
Websitewww.fastspring.com

Bright Market, LLC, dba FastSpring, is a software as a service (SaaS) company that offers a full service e-commerce platform for companies that sell software and other online digital products.

History

Founded in 2005 by Dan Engel, Ken White, Jason Foodman and Ryan Dewell, the company is based in Santa Barbara, California.[1] The four founders put in a combined $30,000 to launch the company.[2][3] FastSpring initially focused on companies selling desktop software and downloadable games, before moving into SaaS in 2011.[4] In March 2011, FastSpring launched its subscription e-commerce platform for subscription-based businesses to manage online subscription payments.[1][5] The company received its first outside investment in April 2013 for an estimated $12 million from Pylon Capital.[4][6] The company's revenue would grow from less than $1 million in 2007 to over $100 million by 2013.[4] In 2018, Accel-KKR purchased a majority stake in FastSpring.[7][8]

FastSpring was recognized for a Silver Stevie Award for Customer Service Department of the Year in 2013[9] and again in 2014[10] and 2015.[11] It is a five-time Inc. 5000 honoree, having been ranked as high as #41 in 2010.[12]

In July 2018, Sian Wang was named CFO of the company.[13] In March 2019, David Nachman was named CEO, succeeding Chris Lueck. Nachman was formerly CEO of government technology company Vision, and chief business officer of Velocify, a SaaS CRM business.[14]

Products and services

FastSpring's platform offers digital commerce products for software, cloud-based, and as-a-service businesses, supporting a variety of digital products and distribution models. It enables purchases and subscriptions for desktop, mobile, and apps.[4][15]

  • Global Online Payments
  • Subscription Management + Billing
  • Branded Checkout
  • Global Taxes + Financial Services
  • Risk Management + Compliance
  • Integrations

References

  1. ^ a b Rip Emerson (March 17, 2011). "Online Subscription Billing Is Still a Hassle, SaaSy Aims to Change That". TechCrunch. Retrieved September 18, 2013.
  2. ^ "How These 3 Entrepreneurs Bootstrapped Their Million-Dollar Companies". Entrepreneur. January 26, 2018. Retrieved June 28, 2019.
  3. ^ "Corporate Hack: How A Dozen Remote Workers Generated $100M". Forbes. March 30, 2016. Retrieved June 28, 2019.
  4. ^ a b c d Sarah Perez (April 24, 2013). "All-In-One E-Commerce Solution FastSpring Takes Its First Outside Investment From Pylon Capital". TechCrunch. Retrieved September 18, 2013.
  5. ^ "FastSpring and SaaSy, easy ecommerce". Network World. April 19, 2011. Retrieved June 28, 2019.
  6. ^ "Investors jump on FastSpring as revenue soars". Pacific Coast Business Times. April 26, 2013. Retrieved June 28, 2019.
  7. ^ "Accel-KKR Backs FastSpring". The Wall Street Journal. New York. February 14, 2018. Retrieved June 28, 2019.
  8. ^ "FastSpring Acquired By Accel-KKR". Socaltech. February 14, 2018. Retrieved June 28, 2019.
  9. ^ "2013 Customer Service Awards Category Stevie Award Winners". Stevie Awards, Inc. Retrieved September 18, 2013.
  10. ^ "2014 Customer Service Awards Category Stevie Award Winners". Stevie Awards, Inc. Retrieved September 2, 2014.
  11. ^ "2015 Stevie Award Winners". Stevie Awards, Inc. Retrieved July 27, 2016.
  12. ^ "FastSpring". inc.com. Retrieved June 28, 2019.
  13. ^ "Interview with Sian Wang, CFO, FastSpring". martechseries.com. December 19, 2018. Retrieved June 28, 2019.
  14. ^ "FastSpring Appoints David Nachman as Chief Executive Officer". martechseries.com. March 22, 2019. Retrieved June 28, 2019.
  15. ^ "How to make content marketing work - practical tips for success". diginomica.com. April 15, 2019. Retrieved June 28, 2019.
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