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Steve Cakebread, New Chief Financial and Administrative Offer at Xactly
Xactly announced minutes ago that Steve Cakebread has joined Xactly as CFO. Steve was the president and chief strategy officer at Salesforce.com for the past 6 years, and helped grow the company from $22 million in annual revenue in 2002, to $749 million in 2008.
We heard last week that Steve had left Salesforce.com. He now joins a company in a market where all vendors will collectively earn about half of the Salesforce.com revenues. That’s a good indication that others also believe the Sales Performance Management market has tremendous growth opportunities!
What makes Steve Cakebread a particularly interesting fit for this position is that he led salesforce.com through its initial public offering in 2004… Could this be one of the reason Xactly recruited him?
I’m a big fan of the CRM story. And Xactly (Cabrerra specifically) seems to be aggressively positioning itself as the EIM market leader, but IPO? I’m guessing no time soon.
PE is in worse than the commercial and i-banks and I see little underwriting appetitie for b2b software firms until 2011-12 at the earliest.
Kerek
I agree… It was just a big speculation.
But 2011-12 doesn’t seem that far away, and it would give Xactly some time to really integrate Centive from all perspectives.
Here is another post on the topic, talking about the IPO possibility I raised: http://denispombriant.wordpress.com/2009/02/11/cakebread-ninja-joins-xactly/