SendGrid

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SendGrid
Public
Traded asNYSE: SEND
Russell 2000 Component
IndustryTechnology
Founded2009
FounderIsaac Saladana, Jose Lopez, Tim Jenkins
Headquarters,
Key people
Sameer Dholakia (CEO)[1]
ParentTwilio
Websitesendgrid.com

SendGrid is a Denver, Colorado-based customer communication platform for transactional and marketing email.[2][3][4][5][6][7] The company was founded by Isaac Saldana, Jose Lopez, and Tim Jenkins in 2009, and incubated through the TechStars accelerator program.[8][9][10][11] As of 2017, SendGrid has raised over $81 million and has offices in Denver, CO, Boulder, CO, Irvine, CA, Redwood City, CA and London.[7][11][12][13][14][15][16][17]

The company went public with a debut in the New York Stock Exchange on November 16, 2017.[18]

General[edit]

SendGrid provides a cloud-based email delivery service that assists businesses with email delivery.[6][8][19][20] The service manages various types of email including shipping notifications, friend requests, sign-up confirmations, and email newsletters. It also handles internet service provider (ISP) monitoring, domain keys, sender policy framework (SPF), and feedback loops.[12][21][22][23] Additionally, the company provides link tracking, open rate reporting.[21] It also allows companies to track email opens, unsubscribes, bounces, and spam reports.[6][21][24] Beginning in 2012, the company integrated SMS, voice, and push notification abilities to its service through a partnership with Twilio.[14]

SendGrid offers a freemium version and a Lite Plan (pay-as-you-go), as well as three expanded levels of service: Essentials, Pro, and Premier.[6][25][26]

SendGrid's clients include Uber, Twilio, Foursquare, Pandora, and Airbnb.[12][20][23][27]

Controversy[edit]

The controversial firing of Adria Richards in March 2013 and the surrounding circumstances became known as Donglegate.

Funding[edit]

Before Sendgrid was called Sendgrid, they named the project smtpapi.com a domain name still owned by Sendgrid.[28] After founding SendGrid in Riverside, CA in July 2009, Saldana, Lopez, and Jenkins enrolled the startup in the TechStars accelerator program and moved the company to Boulder, CO.[8][10][29][30][31] By December 2009, the company announced it had raised $750,000 in a funding round led by Highway 12 Ventures.[21] Other participating investors included SoftTech VC, FF Angel, and TechStars founder David Cohen.[21]

In April 2010, the email software-as-a-service (SaaS) company received $5 million in Series A round funding from Foundry Group, SoftTech VC, and Highway 12 Ventures, as well as individual investors including David Cohen, Scott Petry, Dave McClure, and Matt Mullenweg.[24][32] Ryan McIntyre, the co-founder of Foundry, joined SendGrid's board of directors at this time as well.[24]

In January 2012, SendGrid raised $21 million in Series B funding.[11][14][27][33][34][35][36] The funding round – led by Bessemer Venture Partners and previous investors Highway 12 Ventures, Foundry Group, 500 Startups, and TechStars – occurred concurrently with a new partnership between SendGrid and Microsoft’s Windows Azure platform.[9][14][23][27][36]

In December 2014, SendGrid raised $20 million in Series C funding. The series C round was led by new investor Bain Capital Ventures. Current investors Bessemer Venture Partners and Foundry Group also participated.

In November 2016, SendGrid raised $33 million in Series D funding. The round was led by Bain Capital Ventures, with participation from Bessemer Ventures and the Foundry Group.[17]

Growth and development[edit]

Former Citrix executive Sameer Dholakia joined SendGrid as the CEO in September of 2014.

The company announced in May 2011 that it had sent out over 9 billion emails for more than 23,000 companies since its founding.[26] In the same month, SendGrid announced a partnership with web host service Rackspace Hosting that allows Rackspace users to launch email campaigns using SendGrid's software.[6][23][25]

By January 2012, the service reported that it was sending out 2.6 billion personalized emails per month.[11][33][35] By March, the company was experiencing 10% monthly growth.[23]

SendGrid announced in June 2012 that it was working with 60,000 businesses and had sent out a total of 45 billion emails since its start in 2009.[11]

On July 25, 2012, the company reported it had partnered with Platform-as-a-service (PaaS) companies CloudBees, Heroku, and Engine Yard.[14] The company opened its Denver office the following October.[8][13][16]

In December 2012, SendGrid teamed up with Twilio to incorporate SMS and push notification services to its platform.[14][37] The company announced integrations with Parse, Windows Azure, and StackMob the same month.[38] In April 2013, SendGrid announced it had sent over 100 billion emails.[39] That June, the company released its new email marketing service.[40][41][42] The service allows marketing professionals and non-technical users to create emails using various newsletter templates and features a drag-and-drop template to fill in content.[41][42]

In December 2017, SendGrid announced that they are processing around 36 billion emails per month.[28]

In October 2018, Twilio announced plans to acquire SendGrid for $2 billion.[43]

In December 2018, a SendGrid shareholder filed a lawsuit in Colorado federal court in response to the planned acquisition.[44]

References[edit]

  1. ^ SendGrid. "SendGrid Appoints Sameer Dholakia as New CEO". www.prnewswire.com. Retrieved 2016-04-25.
  2. ^ Leena Rao (March 9, 2011). "SendGrid Sends 7.5 Million Emails, Brings Former Oracle Exec As CEO". TechCrunch. Retrieved August 13, 2013.
  3. ^ "TechStars Incubator Hatches 10 New Companies". TechCrunch. August 6, 2009. Retrieved August 13, 2013.
  4. ^ Dana Oshiro (September 30, 2009). "TechStars Investor Day Hits a Home Run". ReadWrite. Retrieved August 13, 2013.
  5. ^ "SendGrid raises $21M in VC; Microsoft to partner". Denver Business Journal. January 17, 2012. Retrieved August 13, 2013.
  6. ^ a b c d e "How SendGrid Makes Sure Those App Emails Go Through, With Jim Franklin". TechRockies. November 13, 2012. Retrieved August 13, 2013.
  7. ^ a b Ben Kuo (November 16, 2012). "Ten of Southern California's Top Software Companies". socalTECH. Retrieved August 13, 2013.
  8. ^ a b c d Sprouter (October 31, 2012). "Just do it: Ideas are worthless unless you execute them, startup founder says". Financial Post. Retrieved August 13, 2013.
  9. ^ a b Sarah Kuta (February 12, 2012). "From unlimited burritos to on-site yoga, Boulder firms pile on perks". Boulder Daily Camera. Retrieved August 13, 2013.
  10. ^ a b Brad McCarty (May 16, 2013). "Startup Stories: SendGrid shares its passion for fixing email". The Next Web. Retrieved August 13, 2013.
  11. ^ a b c d e Leena Rao (January 17, 2012). "Bessemer Leads 21m Round In Cloud-Based Email Delivery And Management Service SendGrid". TechCrunch. Retrieved August 13, 2013.
  12. ^ a b c Sean Ludwig (February 18, 2013). "10 Boulder startups we're excited about". VentureBeat. Retrieved August 13, 2013.
  13. ^ a b Andy Vuong (November 5, 2012). "Could downtown Denver be the next Silicon Valley?". The Denver Post. Retrieved August 13, 2013.
  14. ^ a b c d e f Sean Ludwig (July 25, 2012). "SendGrid partners with Heroku, Engine Yard, & others on email management". VentureBeat. Retrieved August 13, 2013.
  15. ^ Sean Ludwig (December 4, 2012). "Cloud tag team: SendGrid and Twilio partner on email, SMS, and voicemail solutions for the enterprise". VentureBeat. Retrieved August 13, 2013.
  16. ^ a b Greg Avery (August 10, 2012). "Boulder's SendGrid opening Denver office". Denver Business Journal. Retrieved August 13, 2013.
  17. ^ a b "Email delivery platform SendGrid raises $33 million ahead of IPO in 2017". VentureBeat. 2016-11-30. Retrieved 2018-08-01.
  18. ^ Chuang, Tamara (2017-11-12). "As SendGrid preps for public debut, the IPO market appears receptive". The Denver Post. Retrieved 2017-11-13.
  19. ^ Pascal-Emmanuel Gobry (August 2, 2011). "SendGrid Is Sending 2 Billion Emails Per Month And Just Getting Started". Business Insider. Retrieved August 13, 2013.
  20. ^ a b Ingrid Lunden (June 29, 2012). "Inbox Alert: SendGrid Sends 45B Emails For 60,000 Customers, 20B In 2012 Alone". TechCrunch. Retrieved August 13, 2013.
  21. ^ a b c d e Leena Rao (December 8, 2009). "SendGrid Raises $750K for Email Delivery Software". TechCrunch. Retrieved August 13, 2013.
  22. ^ Stephanie Miles (August 1, 2012). "SendGrid: Reliable Email Delivery for Businesses". AppVita. Retrieved August 13, 2013.
  23. ^ a b c d e Julie Bort (March 1, 2012). "All Those Emails From Pinterest Are Very Good For This Guy". Business Insider. Retrieved August 13, 2013.
  24. ^ a b c Evelyn Rusli (April 20, 2010). "SendGrid Raises $5 Million, Sends A Bajillion Emails". TechCrunch. Retrieved August 13, 2013.
  25. ^ a b Nicole Henderson (May 19, 2011). "Web Host Rackspace Partners with Email Infrastructure Provider SendGrid". TheWhir. Retrieved August 13, 2013.
  26. ^ a b Rip Empson (May 10, 2011). "Email Delivery System SendGrid Announces New Pricing Model, Now You Can Pay-As-You-Go". TechCrunch. Retrieved August 13, 2013.
  27. ^ a b c Bambi Francisco Roizen (January 17, 2012). "SendGrid gets $21m in capital, led by Bessemer". Vator. Retrieved August 13, 2013.
  28. ^ a b Duskic, Goran (2017-12-13). "How SendGrid became one of the largest API companies in the world - Isaac Saldana Interview - WhoAPI blog". WhoAPI blog. Retrieved 2017-12-13.
  29. ^ Alan Shimel (July 11, 2013). "Boulder Startup Spotlight: SendGrid, an American success story". NetworkWorld. Retrieved August 13, 2013.
  30. ^ Martin Tantow (March 19, 2011). "The Top 100 Cloud Computing Private Companies". CloudTimes. Retrieved August 13, 2013.
  31. ^ "Techstars Boulder Companies SendGrid and Retel Announce Financings". Feld. December 10, 2009. Retrieved August 13, 2013.
  32. ^ Alastair Goldfisher (May 4, 2010). "TechStars startup SendGrid raises $5 million". Reuters. Retrieved August 13, 2013.
  33. ^ a b Alicia Wallace (January 18, 2012). "Boulder startup SendGrid raises $21 million". The Denver Post. Retrieved August 13, 2013.
  34. ^ Dan Primack (January 18, 2012). "Venture capital deals". CNN Money. Retrieved August 13, 2013.
  35. ^ a b Liz Gannes (January 17, 2012). "SendGrid Raises $21M to Send Even More Emails". AllThingsD.com. Retrieved August 13, 2013.
  36. ^ a b Ryan Kim (January 17, 2012). "Email is still hot: Why SendGrid got $21M in VC funds". Gigaom. Retrieved August 13, 2013.
  37. ^ Harrison Weber (December 4, 2012). "SendGrid and Twilio team up to offer email, SMS, voice and push notifications for the enterprise market". The Next Web. Retrieved August 13, 2013.
  38. ^ Barb Darrow (December 13, 2012). "SendGrid adds Parse, Stackmob, Azure integrations". Gigaom. Retrieved August 13, 2013.
  39. ^ Denise Hulce (April 29, 2013). "9 Best practice tips for marketing emails". FourthSource. Retrieved August 13, 2013.
  40. ^ Sean Ludwig (June 18, 2013). "SendGrid launches email marketing service that undercuts MailChimp & Constant Contact". VentureBeat. Retrieved August 13, 2013.
  41. ^ a b Barb Darrow (June 18, 2013). "SendGrid picks fight with heavyweight MailChimp in email marketing". Gigaom. Retrieved August 13, 2013.
  42. ^ a b Kristina Knight (June 18, 2013). "SendGrid launches email service". BizReport. Retrieved August 13, 2013.
  43. ^ Condon, Stephanie (15 October 2018). "Twilio to acquire email API platform SendGrid for $2 billion". ZDNet. Retrieved 8 November 2018.
  44. ^ Jones, Diana Novak (6 December 2018). "Shareholder Sues SendGrid Over $2B Twilio Deal - Law360". www.law360.com. Retrieved 2019-01-07.

External links[edit]

Coordinates: 39°44′53″N 104°59′57″W / 39.748150°N 104.999039°W / 39.748150; -104.999039