And you know what? So you can use the best parties and customers. Jonathan Cherki: If I think about that, I will say I try to learn from everyone. Jonathan Cherki: Today, we have around 600 people. Jonathan Cherki: First, it’s a question of people. Jonathan Cherki: Where there is a will, there is a way. Even if the question of profitability at this stage was not the #1 [0:31:30] was not the goal because we are in a market where we are investing to take more and more market share. LinkedIn. So in this case, what kind of difference did you notice from doing fundraising in Europe and the type of concerns or questions that they were asking you if you had to compare with the expectations, concerns, and questions that maybe you were receiving when doing fundraising in the U.S.? Changer ), Vous commentez à l’aide de votre compte Facebook. Jonathan Cherki: Families always want what is the best for you. It’s also important to be about to give up wanting. Then, quickly, you will understand which one you would like to work with. We have an office in San Francisco. Alejandro: That’s remarkable because doing a 20 million Series A in Europe is probably one of the biggest Series A. It’s not like what you see here in the U.S. where people are raising more and more money, but 20 million in Europe is significant. Their company analyzes what is the change of the price of shop competitors, meaning maybe someone has done injury to your customer, Johnny, or your content, but maybe because your competitors think better prize, more modern, better reviews and they’re able to understand what happened outside the website with good pulling capabilities, product, matching capabilities. I also appreciate the fact that when you are in Europe, and you come here, you build a U.S. team, more and more the notion of Europe and the U.S. is something that is disappearing because we live in a global world. Elle confirme aussi la force de notre vision à moyen et long terme”, confie Jonathan Cherki, CEO & fondateur de Contentsquare. It costs a lot, even today, to buy AdWords on Google. Without further ado, I’d like to welcome our guest today, Jonathan Cherki. : At this time, the topic was not profitability. But maybe one day, I will work with my family. They always want your happiness. Meaning, is your machine working well in Europe, and working well enough for you to go to the U.S.? If you have the opportunity to choose well, sometimes you can feel that you cannot fill his shoes – the one you will work with. It’s very nice to be with you today. Only members can add HBO and 100+ more channels — no cable required. : I don’t know if I am a black sheep. A comparer aux multiples des sociétés cotées, qui ne se paient, elles, que 8,5 fois leur Ebitda en moyenne. Doctolib, OpenClassrooms, Contensquare, Kyriba mais aussi Datayku, Wind, shift, Manomano, Checkr… La liste de ces nouvelles sociétés et de leurs dirigeants, qui pèsent désormais des dizaines, voire des centaines de millions d’euros est longue. I have to say that my ambition has come from my education, which was always to make something unique and to go beyond myself. But also, to be able to move forward to reduce the period of [0:38:03] because when you are in acquisition or integration, there always are a lot of questions. At this time, you are driving your company, but it takes a lot of energy to raise money. So it’s a good learning pass. You see that, especially at an early stage where people go out, and they start building based on assumptions rather than building based on data. Another acquisition is a company named Pricing Assistant, a French company with 20 people. Challenge du 4 juillet n°617 (P.191.192.193), Publié par histoireetsociete le décembre 19, 2019 dans actualités, Economie, France, POLITIQUE. Jonathan Cherki: I would say, in the U.S., they have a lot of experience in the software company. Jonathan Cherki: I love this question. Whatever the cost is because they will be part of this journey. You have a company Amazon that is presenting 50% of online sales in the U.S. If you have the opportunity to choose well, sometimes you can feel that you cannot fill his shoes – the one you will work with. : Very cool. Alejandro: 100%. You are not alone because you have a [0:42:31], you have some strong partner that shares your vision and your ambition. Having a new logo and good marketing and good visibility in the market, make a footprint even if it was small because it takes time. This market was a very small market, but I had the sensation that it would become the blockbuster market – the huge market for the future. Un demi-million de dollars. It helps me to understand that and to understand that if you would like to be a leader in the future market, you need to be strong when the wave of your market will be. Alejandro: Very cool. They have a lot of experience in SaaS, in terms of globalization, and they are today a good partner in the company to help us to be the world leader in our category. We launched in early 2016. Quickly, the dark visions that you could have will disappear. But can you do that also by being productive enough? So in this case, what kind of difference did you notice from doing fundraising in Europe and the type of concerns or questions that they were asking you if you had to compare with the expectations, concerns, and questions that maybe you were receiving when doing fundraising in the U.S.? Alejandro: In that case, what was the process of incubating the idea because you were passionate about math, statistics, but there was a process. 74 talking about this. You cannot be just French, English, or German. So if I can learn from any days or anyone, I will do it, and I think having humility with a strong mission is something also I learned from my education. And after, to see if you are efficient in the way to go. We recently acquired a company named Clicktale who have an office in TeleViv. : But in total for the business, how much have you guys raised? Le spécialiste de l’analyse du comportement des internautes sur les sites web était déjà une licorne depuis l’an dernier et un tour de table de 174 millions d’euros. Lui qui, il y a six ans, figurait encore dans la liste des milliardaires. If we think about the markets for a long time, the best way to win online sales was an acquisition. : Thanks, Alejandro. Cette Fintech tricolore, installée à New York, édite des solutions de gestion dans le cloud et a levé une centaine de millions de dollars auprès d’institutions et de fonds comme Bpifrance, Iris Capital, Daher Capital, HSBC et Sumeru Equity Partners. If you can leave a review as well, that would be fantastic, and if you got any value either from this episode or from the show itself, share it with a friend. Les infos, chiffres, immobilier, hotels & le Mag https://www.communes.com That’s why we see it as a good opportunity to combine our strengths altogether. That’s why one, we have something like 40 people in the U.S. Must Read: Tom Livne On Raising $65 Million To Bring Artificial Intelligence To Transcriptions. It’s also an open form audience. We understand that we have more target in New York than in San Francisco, where you have more B2B software and where we were looking for more equableness, fashion, retail. So really cool story. Particularly when you find the pleasure with your job. When you move to New York, you discover it is a place where you have a lot of foreign people, different cultures from all over the world. A méditer…(Remarques de PB). Take my quiz and get a custom action plan to start raising more capital. I think at the end if you would like to make something unique, that is an important basic as well as a support of your family. : It was a pleasure to speak with you, Alejandro. Et pendant quinze ans cette part est restée à peu près stable. We develop the product at this time. They are 200 people, and it’s a high-level company. A comparer aux multiples des sociétés cotées, qui ne se payent , elles, que 8,5 fois leur Ebirda en moyenne. We have an office in San Francisco. Most of our customers are equal. In your case, Jonathan, looking back, what has been the toughest moment for you in this journey? If you like the show, make sure that you hit that subscribe button. Twitter. We recently acquired a company named Clicktale who have an office in TeleViv. We didn’t have particularly mind-making to acquisition. : Families always want what is the best for you. : That’s very powerful because sometimes as the CEO or the Founder CEO, you kind of like drink your own Kool-Aid. I think that having that level of support, especially for the entrepreneurial journey, that support from family is critical because there are many ups and downs which we can talk about in a little bit. I would say five years ago, the question of user experience was not yet to be. Eighty percent of their business was in the U.S.; 20% in Europe. : We saw that there was a huge opportunity to accelerate. Their company analyzes what is the change of the price of shop competitors, meaning maybe someone has done injury to your customer, Johnny, or your content, but maybe because your competitors think better prize, more modern, better reviews and they’re able to understand what happened outside the website with good pulling capabilities, product, matching capabilities. En 1996, lorsque Challenge a lancé son palmarès, la richesse cumulée des 500 fortunes représentait 2% de l’ensemble du patrimoine privé des Français estimé alors à 3475 milliards d’euros. We recently acquired a company named Clicktale in Tele Viv. How was life growing up there? The company has raised more than $120 million in VC and recently acquired its largest competitor to form the largest User Experience Analytics company. Dans un tel contexte, la lutte peut payer encore plus. It helps to believe in your story. That’s peanuts if you want to continue to grow the venture because when you go into the growth-stage financing milestones, then they’re not going to have ammunition to be able to invest in you. I am feeling especially because today our market is estimated at 8 billion dollars, and it is a market that is growing 20-25% a year. Invest in people. We see it as a good complement for our product to be able to analyze better the merchandising for our customers. So I moved here with my charming French accent ready to learn [0:22:36] as a business in the U.S. Because I think you are absolutely right. Une hausse modérée qui témoigne d’un millésime contrasté selon les secteurs, avec le luxe qui rit et l’industrie qui pleure. Then you made the decision to move to New York City. Can you walk us through that? Jonathan Cherki: I think being an entrepreneur is not easy, but I will say it is not any more difficult than with a job. Cette année, cette croissance n’a pas bénéficié uniformément à tous les secteurs. Alejandro: Because at the end of the day, it is still building a business. How do you go about that? What will be my responsibilities? : Let’s go back to where you were in business school, which is what gave you the push to go at it. You just came out of school and you had this idea you were executing. They have a lot of integration with a lot of software. Et les premiers mois de 2019 n’ont pas inversé la tendance. Jonathan Cherki: With my charming French accent, I can tell that I enjoy Marseille in southern France. Cool. The three steps to launching in a new market, His key steps in ensuring successful integrations when making acquisitions, The approach to ensuring your company doesn’t outgrow you as a leader, The one thing he would do differently if starting over, and who he would hire, : Alrighty. Really cool. Avertissez-moi par e-mail des nouveaux commentaires. So notice that there are synergies between the two companies. You find a pleasure to learn. They help the entrepreneur learn this project. Jonathan Cherki: That is a very good point. At Series B, it was 62 million; 20 from Series A and 42 from Series B. Alejandro: Wonderful. Twice a year, we organize strategy meetings where we can have some progress initiative, and that is super important if you would like to build one team. At this stage, finding a good partner who can help you go to the U.S. to expand in the U.S. For example, in New York but also in San Francisco and the Valley was something super useful for me. But without a doubt, integration is a beast. Bernard Arnault (LVMH) et sa famille arrivent en tête. The reason why we chose New York is first: New York is a six-hour difference with Paris, so it’s easier to manage than nine hours between Paris to San Francisco. I think this is what you’re alluding to as well. We were viewing banners everywhere, but no one was clicking on them. That’s why I decided to carry this user experience and analytics technology. Il y a quelques mois, l’INSEE a publié une étude montrant que le patrimoine moyen des Français avait doublé depuis 1998. Really cool. Jusqu’à peser, cette année, avec 700 milliards, environ 6 % du patrimoine actuel (estimé à 12.000 milliards) des Français… Thomas Piketty le confirme : « La France a connu un fort accroissement des inégalités entre 1983 et 2015 : le revenu moyen des 0,1 % les plus aisés a progressé de 150 %, contre à peine 25 % pour le reste de la population. They have the pleasure to work with more than 600 people in the company. Whatever the cost is because they will be part of this journey. You are right. I quickly understood that even if the banner is good, if the website is poor, people will leave. We try to take live questions and more responses. The West Coast is also an important area. : So at the end of Series B, we have raised something like 62 million dollars. Les investisseurs existants sont une majorité à remettre au pot. At this stage, ContentSquare was almost the opposite: 20% in the U.S.; 80% in Europe. Today we have a guest from Europe, just like myself. From my point of view, there is no secret sauce here. From 2012 to when we began in 2016, we bootstrapped. Elle confirme que l’économie française est bien, comme l’affirmait Emmanuel Macron, en train de passer de la « vieille économie » à une… « start-up nation ». And point two, we were analyzing the market to understand, where are our targets? When I was at business school, I began with a student project that is today your life project. It helps me also to hire some of the first people in the company that are here today in the ContentSquare team. It’s very nice to be with you today. 40 nuances de Next. Entrez vos coordonnées ci-dessous ou cliquez sur une icône pour vous connecter: Vous commentez à l’aide de votre compte WordPress.com. Alejandro: So the total amount would be then? But the conversion rate is low. When you feel that you can check all these points, I think it was time to inject more money, but also to find a good partner. I am feeling especially because today our market is estimated at 8 billion dollars, and it is a market that is growing 20-25% a year. The second point is about the retention and the churn. Even if the question of profitability at this stage was not the #1 [0:31:30] was not the goal because we are in a market where we are investing to take more and more market share. I think being customer-driven is the way to go. They appear to understand more the future of the markets, and I’m very happy to have them and to keep on growing the company. C’est le cas de Bpifrance, Canaan, BlackRock, Eurazeo, In addition, the company has also acquired Clicktale and Pricing Assistant. Jonathan Cherki: At the end, when you have the same ambition to be the worldwide leader of this category, we notice here that we have the same willingness to make it in stronger comparatives. What I will do, etc. : I would say, in the U.S., they have a lot of experience in the software company. You understand the notion of ambition and to make everything good, something that will have an impact and a legacy, and with a lot of humility. Comment résister à quelques dizaines de millions quand on veut se développer et que les moyens manquent ? When I decided to analyze this market, I saw that companies like Google or Adobe were good to understand step-by-step where you are losing people, but not to understand why does a user leave a website? Du coup la valorisation Burelle est passée de 2,9 à 1, 5 milliards. Alejandro: That makes sense. This is what I learned from my family that what I wasn’t using: the basic, the foundation of my first and unique company, ContentSquare. Alejandro: So you thought you should not develop this business? Beaucoup finissent par céder : Jean-Claude Lavorel, qui contrôlait, depuis 1999, Bonitas, un groupe de services aux personnes âgées en Allemagne, l’a finalement vendu à l’un des quatre fonds qui se battaient pour le décrocher : « Celui que nous avons choisi avait déjà une activité dans le secteur et sa proposition était… bonne », reconnaît volontiers l’entrepreneur lyonnais, qui se concentre désormais sur ses huit hôtels. So at what point did you tell yourself – obviously, you had this business. L’opération est menée par le japonais SoftBank Vision Fund. When you see them opening a new position on a job that was not existing at this time – now is, but at that time it was not – you have the sensation that you have to accelerate. Alejandro: Then, in this case, you got Highland as the right partner. So altogether we are about 50% in the U.S.; 50% in Europe. 40 nuances de Next . They appear to understand more the future of the markets, and I’m very happy to have them and to keep on growing the company. Founded in 2012 by Jonathan Cherki, Contentsquare analyses nearly $1.5 billion in transactions and 10,000 billion customer digital interactions (clicks, touch gestures, content interactions, etc.) I think the important thing people have to check – and It’s something I try to do anytime I’m hiring someone is, the people you are hiring today, can they do the job of today, but can they do the job of tomorrow and after tomorrow? They help the entrepreneur learn this project. À l’époque, le principal moyen d’augmenter les ventes en ligne était l’acquisition d’audience, grâce à la recherche de Google, le display et les bannières de Criteo ou le CRM de Salesforce. So, I love it. In this case, how do you go about launching in a new market because it’s a different type of customer, it’s a different type of pricing? Ces nouveaux noms côtoient Jonathan Cherki, ... L’ÉVOLUTION DU CLASSEMENT DES FORTUNES. : At the end of 2000, 17. Alejandro: Got it. Or ce multiple, qui était de seulement 6,5 en 2012, a bondi à 11 fois cette année, selon le dernier indicateur Argos Wityu. Step three is to be sure that you have a good process, you have an open mind at excellence to implicate or to adapt because you know the markets are different in each. At what point do you understand that it makes sense to replicate a model into a completely different and untapped market that maybe you’re not as familiar with? We checked all of that. Also, remember, if you need any help whether it is with your fundraising efforts or with selling your business, you can reach me at, Tom Livne On Raising $65 Million To Bring Artificial Intelligence To Transcriptions, Sudheer Koneru On Building A $1 Billion Business By Creating An All-In-One Software For The Beauty Service Industry, He Built A $1 Billion Business By Creating An All-In-One Software For The Beauty Service Industry, He Sold His Business To IBM For $1.3 Billion And Now Raised $65 Million To Analyze Data Sets. Jonathan Cherki: You are right on what you explained. Mais les enseignements de ce palmarès ne se limitent pas comme depuis 10 ans à l’enregistrement des hausses phénoménales du patrimoine des super-riches. The second point is that if you have in mind that whatever you are doing, you should learn from what you are doing whatever the impact if it’s a good or bad decision. So it was early 2017. : I’m sure there is, in this case, a lot of people that are listening that are also in Europe or in other parts of the world that they know that eventually, they’re going to have to come to the U.S. Jonathan Cherki, CEO and Founder of Contentsquare, right, and Contentquare Global CFO and former Clicktale CEO Shlomi Hagai (Courtesy) … Intérêt justifié, jusqu’à présent : entre 2004 et 2018, le private equity a rapporté en moyenne 14,2 % par an, contre moins de 8 % pour les actions cotées…. But when you learn, you don’t know what will be the impact of what you are doing. : You were born in the South of France. Alejandro: When you have different offices as well, you also run into the potential issue of having different cultures in every office. First, I think it’s important to listen to people, to understand them, to understand what are their challenges, their aspirations. Alejandro: Yes. Au contraire, Marc Sellam, le PDG-fondateur de Ionis Education- un groupe de 24 écoles dont il contrôle 80% du capital- refuse « de céder aux multiples sirènes des fonds et des investisseurs qui me contactent chaque jour en me proposant des valorisations plus folles les unes que les autres. Le marché actuel est inflationniste, voire fantaisiste : cela ne doit pas nous empêcher de réfléchir de manière sensée et durable ». I would like to understand what happened between the display and the checkouts. Mais pour le CEO-fondateur, Jonathan Cherki, ce n’est là que le début de l’aventure. I’m 33 years old today. I’m sure that this experience was tough for you because when you’re bootstrapping if you make one step in the wrong direction, everything could fall apart. Fantaisiste, inflationniste ? Jonathan Cherki: Definitely. : Because my ambition was to become the worldwide leader this category. Go and fight for them. Just as a follow-up to that, and for a lot of people that may be thinking about it, how do you balance growth versus profit? So I appreciate the fact that the process went fast. Elles entraînent dans leur sillage les belles PME du secteur, souvent familiales, comme le pâtissier Pierre Hermé et le malletier familial Goyard, deux de la cinquantaine des entrants de notre classement. But the conversion rate is low. On peut citer là BMW, Gucci, Ikea, Microsoft, Rakuten, Sephora, The NorthFace, ou encore Verizon. This market was a very small market, but I had the sensation that it would become the blockbuster market – the huge market for the future. In 2012, I decided to launch this company. The new round values Contentsquare at $2.8 Billion; proceeds will go towards continued investment in the company’s core technology to augment its leadership in Europe and the US as well as supporting expansion into new markets across Asia. -56% en un an. Spécialiste français de l’expérience digitale (UX), Contentsquare boucle une levée de fonds de 500 millions de dollars. Great people there. Cette année, cette croissance n’a pas bénéficié uniformément à tous les secteurs. The truth of the matter is, is that even in Europe, the largest fund – for example, in Spain, one of the largest funds is probably like 150 million. So you cannot defocus too much; it’s very helpful. That’s why we had done our first fundraising with a Series A of 20 million dollars coming from Highland Europe. I think I am a lucky person because at this time, finding people like Highland Europe had the same sense of the importance of the people first and also had a strong experience in SaaS. I think that he has a very interesting story around an incredible market that is growing like crazy. It was exactly what happened between Series B and Series C. First, you analyze a bit of your growth. : That is a very good point. I am a big believer in the relationship between the people. First, because I [0:45:42] because in myself in this department, so I think you can learn a lot from your peers. » C’est un écart historique, explique Louis Godron, président associé d’Argos Wityu. With Jonathan Cherki and his team, no doubt that the company has bold ambitions! Il confirme la dynamique du non-coté, dont les prix sont tirés par la politique d’acquisition active des grands groupes et par l’intérêt croissant des investisseurs pour cette classe d’actif ». :12 Part 1 - Olivier Goy - October - La fortune sourit aux audacieux. I will say they grow faster also than in Europe because they used to analyze more and more companies in this area. So, watch out because probably with the people that will be reaching out, you may have too much caffeine from so many coffees. Les descendants du fondateur du numéro un mondial de l’homéopathie ont vu leurs titres passer de 72 à 39 euros pour cause de déremboursement annoncé de l’homéopathie. If you can be honest with yourself, you will learn from the next time. Alejandro: Amazing, Jonathan. Also, a foreign entrepreneur that came here to the U.S. Quant à Jean-Charles Naouri, qui contrôle le distributeur Casino, endetté et en pertes, il disparaît carrément de notre classement des 500 fortunes professionnelles de France. But maybe one day, I will work with my family. Alejandro Cremades leads the vision and execution for Panthera Advisors as its Co-Founder and…. There is always a question around the future to be sure that the futures match. I will do more and I will tell the young Jonathan even if I keep on being him. A l’évidence, la crise des « gilets jaunes » a laissé des traces. Changer ). But can you do that also by being productive enough? So my first project was to develop and measure the efficiency of banners. Even if your intentions are always good because they have to be on the interest of the company. When you are at a super-early stage, starting out, in most of the instances – and there are probably many people that are at that point – is like it’s driven because you need the money. Or, sur la même période, celui des 500 de notre classement a été multiplié par… sept. L’économiste Thomas Piketty, auteur du best-seller Le Capital au XXIème siècle, a raison quand il affirme que « les plus riches captent une part croissante de la croissance » depuis plusieurs années. Contentsquare, spécialiste mondial de l’Experience Analytics, annonce le lancement de son incubateur-accélérateur: Atomic Labs. Alejandro: But in total for the business, how much have you guys raised? What happens is that the cost of acquisition was growing. Myself, when after a difficult day, when I come back home, I am fortunate to have a fantastic wife and great kids who remind me of how important your family is, and it’s also part of the company, but I can tell that I find a lot of energy also from them. In this market, in the U.S. Découvrez le classement 2020 exclusif des 500 plus grandes fortunes professionnelles de France, établi par Challenges depuis 1996 It opened your eyes around the possibility of being able to do it yourself and being able to do it on your own. Today the company has offices in five cities and a growing number of happy customers. L'App Store est un magasin d'applications distribué par Apple sur les appareils mobiles fonctionnant sous iOS (iPod touch, iPhone et iPad) depuis le 11 juillet 2008, avec iPhone OS 2.0 et les ordinateurs Apple fonctionnant sous Mac OS X depuis le 6 janvier 2011 avec la mise à jour de Mac OS X 10.6.6z. You have two options. Quels sont les liens internationaux? Jonathan Cherki is the founder and CEO of Contentsquare which provides a solution for mobile & web customer experience optimization. Et les premiers mois de 2019 n’ont pas inversé la tendance. I think I am lucky because I have the opportunity to have some fantastic people with me who are here today and who keep developing the company. Les 30 créateurs de start-up qui font leur entrée dans notre classement cette année n’ont pas réfléchi trop longtemps: ils ont accueilli des financiers à leur capital… ce qui nous a permis de donner une valeur à une activité qu’il était jusque-là difficile d’estimer. Jonathan Cherki started developing the technology that would become Contentsquare while studying at the ESSEC business school.
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