The well-known tech startup routine of coming up with an idea, raising money from VCs in increasing rounds as valuations continue to rise and then eventually going public or getting acquired has been around for as long as the myth of Silicon Valley itself.
But the evolution of Mailchimp — a notable, bootstrapped outlier out of Atlanta, Ga. that provides email and other marketing services to small businesses — tells a very different story of tech startup success.
As the company closes in on $700 million in annual revenues for 2019, it has no intention of letting up, or selling out: No outside funding, no plans for an IPO and no to all the companies that have tried to acquire it. As it has grown, it has been profitable from day one.
This week, the company is unveiling what is probably its biggest product update since first starting to sell email marketing services 20 years ago: It’s launching a new marketing platform that features social media management, ad retargeting, AI-based business intelligence, domain sales, web development templates and more.