"Offered for $19.95 a month, the Dovarri PRO-One product is designed for single users and small businesses of less than 10 employees. Dovarri PRO-One Plus, a collaborative version of the PRO-One product line, accommodates up to five users and offers additional mobile and remote access features beyond the basic PRO-One line." http://www.tmcnet.com/news/2006/04/05/1542024.htm
The current price is Dovarri Team $64.95/month = up to 50 users Dovarri Enterprise $99.95/month = unlimited users http://www.dovarri.com/buynow.html
Now, let's use the old numbers from pre-6.0 in November of 2005 1,000 customers (all small to medium-sized businesses), with user licenses anywhere between 10 employees ($19.95/month) and maybe 50 employees ($79.95/month). Lets be conservative and average that out at $49.95/month.
(49.95) X (12 months) X (1,000 customers)
That gives us $599,400 sales for 2005. If every customer in Nov 2005 was using Dovarri Enterprise edition for $79.95/month, that would have generated $959,400 in sales for 2005.
Two years have gone by since then, and Dovarri is on version 6.0 with a pricing scale of $64.95/month to $99.95/month. Projecting the 2005 numbers of over 1,000 customers at the $99.95/month fee would add up to $1,199,400 in sales. Pretty close to the D&B sales estimate I posted earlier. http://investorshub.advfn.com/boards/read_msg.asp?message_id=25719894
How many more customers can we speculate that they added in 2006-07? How many previous customers have been retained? or upgraded?
Now, back to Siebel for our comparison In the late 1990's, Siebel was named the fastest growing company in the United States. Unfortunately, I can't find Dovarri even listed among the 100 fastest growing companies in Houston, unlike Geary Broadnax'a previous ventures (Allsource, Inc = #2 in 1995 and Insync Internet Services = #1 in 1998).
When Siebel IPO'd in '96, annual sales were $39 mil. http://en.wikipedia.org/wiki/Siebel_Systems#Company_History Under the $1,795.00 user price, that would've given then roughly 22,000 users. In September 1996, Siebel announced its IPO of 1.5 million shares of common stock at $43 per share. The company offered 750,000 shares, and 750,000 shares were offered by selling stockholders. Siebel provides sales and marketing information software systems. http://www.news.com/2110-1001-230535.html
In September 2005, Oracle Corporation (Nasdaq: ORCL) bought Siebel Systems, Inc (Nasdaq: SEBL) for $10.66 per share. Valued at approximately $5.85 billion, or $3.61 billion net of Siebel's cash on hand of $2.24 billion. http://www.oracle.com/corporate/press/2005_sep/monrls.html
Dovarri CEO Geary Broadnax's previous venture was Insync Internet Services, Inc., which was named Houston's #1 fastest growing technology company in 1998, and then purchased by Reliant Energy, Inc. in 2000. http://www.bizjournals.com/houston/stories/2000/03/13/story4.html
On Dec 20, 2007, Salesforce.com (CRM) and most other stocks in the software business are trading higher after competitor Oracle (ORCL) reported second-quarter earnings.
With Broadnax's previous venture being sold to Reliant, could Dovarri be a take-over target?
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