If you are a Pardot user, you’re probably privy to the Par-DOT/Par-deux joke. We can pick up on whether a client is from the North very quickly, based upon how they pronounce the marketing automation service’s name (they tend to say Pardeux).
Fun fact: Pardot’s name isn’t random. According to Pardot’s co-founder, David Cummings:
Pardot is the Latvian (not Latin!) verb meaning “to market” or “to sell.” I liked that it was easy to pronounce and spell, so I headed over to BustAName to see if it was unregistered, and, much to my surprise, it was available. I registered it immediately for $8 and the rest is history.
Here are some other key events in Pardot history:
- December 2006: Bought the domain name Pardot.com for $8
- March 2007 : Co-founders started working full-time on the business with the original model being a pay per click bid arbitrage platform to generate leads from potential technology buyers and then sell them to technology vendors (like LendingTree for technology leads)
- May 2007: Pivoted into marketing automation software using most of the code already written for the original product (they were already 60% of the way to a minimum respectable product) and built the product focused on serving the needs of a 25 person software company
- December 2007: Signed the first customer, via a partner introduction
- April 2008: Raised prices from $65/user/month to $325/account/month to encourage more user adoption in the organization and to capture value based on other usage params (number and types of modules)
- October 2008: Signed 100th customer and knew the business was going to be successful (roughly 1.5 years after starting)
- January 2009: Added email marketing to the native product functionality after religiously staying away from it (previously would connect with third-party email marketing tools to do email but were too limited in functionality)
- July 2009: Passed $1M in annual recurring revenue and decided it was time to raise venture capital to significantly accelerate growth (took 2.3 years to get to a $1M run rate)
- March 2010: Raised prices to $1,000/account/month
- April 2010: Atlanta Business Chronicle named Pardot the #1 fastest growing technology company in Metro Atlanta with a 42,000% growth rate
- December 2010: Launched London office through a joint venture
- December 2010: Passed $5M in annual recurring revenue
- January 2012: Passed $10M in annual recurring revenue
- August 2012: Inc. magazine named Pardot to the Inc. 500 as the 172nd fastest growing company in the United States
- October 2012: ExactTarget acquired Pardot
After ExactTarget acquired Pardot in 2012, Salesforce was quick to scoop up ExactTarget in June of 2013 for $2.5 billion, with Marc Benioff tweeting:
— Marc Benioff (@Benioff) June 4, 2013
Since acquisition, Salesforce has continued to improve upon Pardot’s features and offerings, including making the Pardot/Salesforce sync the fastest sync available and launching Pardot’s new Engagement Studio.
You can check out a feed of the latest (and previously added) features here.
We are excited to continue to see innovation from Pardot! Stay informed by subscribing to the blog: