Concurby Mike Hilton
Concur was founded in 1993 by Mike Hilton, Steve Singh, and Raj Singh as a Windows shrink-wrap software product to automate expense reporting, initially selling for $69 directly to consumers. After a breakthrough Wall Street Journal review by Walt Mossberg that drove 2,000 sales in two days, the company pivoted from B2C to B2B, evolved through multiple technology platforms (client-server, intranet, SaaS), and despite nearly collapsing during the dot-com crash (stock price falling from $60 to $0.28), successfully transformed into a pure SaaS business that achieved 25%+ annual growth and was acquired by SAP for $8.3 billion in 2014.
SaaSword-of-mouthsubscriptionvia The SaaS Podcast