This is a snippet of the transcript, sign up to read more.
In contrast, the Confluent Cloud offering allows you to provide a fully managed service with the infrastructure, often at a better TCO than the customer can do themselves. So you end up with a good TCO-driven and skills-driven value proposition because these organizations still can't attract enough of the right people to operate Kafka. So you end up covering that, too. You can go after this cohort of customers that are huge value, multimillion, kind of straight off the bat. You land in New Relic or Wix, which is also a public use case that was in my region, in Israel, a massive deal straight of the bat, multimillion type deal. Without going into the specifics of it, that kind of organization where Kafka's right at the heart is a really good use case.
This is a snippet of the transcript, sign up to read more.
Yes, on ATV, it was ARR, actually, and then a bonus for all year, so it would ultimately be TCV for the full term. Part of the issue there is that Confluent is trying to solve many different things. One of those things is that the Confluent Platform, which is the big engine of bigger deals, to having a comp plan that covers the Confluent Platform and Confluent Cloud type contracts and the consumption motion around it was difficult for the sales ops team and us in particular.
This is a snippet of the transcript, sign up to read more.
We went to an insurer in the UK, one of the largest insurers globally based out of the UK, and it took two years for them to get into any meaningful discussion, and we went through a sales cycle with them, the entry point was like a 50K deal. It was hugely inefficient on accounts like that.
This is a snippet of the transcript, sign up to read more.
This document may not be reproduced, distributed, or transmitted in any form or by any means including resale of any part, unauthorised distribution to a third party or other electronic methods, without the prior written permission of IP 1 Ltd.
IP 1 Ltd, trading as In Practise (herein referred to as "IP") is a company registered in England and Wales and is not a registered investment advisor or broker-dealer, and is not licensed nor qualified to provide investment advice.
In Practise reserves all copyright, intellectual and other property rights in the Content. The information published in this transcript (“Content”) is for information purposes only and should not be used as the sole basis for making any investment decision. Information provided by IP is to be used as an educational tool and nothing in this Content shall be construed as an offer, recommendation or solicitation regarding any financial product, service or management of investments or securities. The views of the executive expressed in the Content are those of the expert and they are not endorsed by, nor do they represent the opinion of In Practise. In Practise makes no representations and accepts no liability for the Content or for any errors, omissions, or inaccuracies will in no way be held liable for any potential or actual violations of laws, including without limitation any securities laws, based on Information sent to you by In Practise.
© 2024 IP 1 Ltd. All rights reserved.
Subscribe to access hundreds of interviews and primary research