Autotask Completes CEO Shift; Godgart Exits Daily Decisions
It’s been roughly five months since Autotask hired Mark Cattini as CEO and Bob Godgart transitioned to Chairman and Chief Visionary Officer (CVO). Based on a few educated guesses and some background conversations at Autotask Community Live, I think it’s safe to say Godgart will symbolically hand the leadership baton to Cattini on Monday, May 23, and I suspect Godgart will step away from day-to-day Autotask operations really soon.
Let me be clear: I’m not suggesting that Godgart is fully leaving Autotask. Instead, he will focus on the chairman post — working on boardroom activities that assist Cattini rather than day-to-day activities at Autotask. Company insiders say the CEO transition from Godgart to Cattini has been “very ordinary, very predictable.”
Take a quick look at the Autotask Community Live agenda and you’ll notice that Godgart is now scheduled to keynote first — sharing a seven-part vision on the industry and Autotask. Then, he’ll symbolically hand the leadership baton to Cattini — who will address the Autotask community for the first time on Monday.
This evening, Godgart was remarkably relaxed while touring the Autotask Community Live evening reception — though I didn’t speak with him directly about the CEO transition and his long-term role at the company.
So what’s the state of Autotask’s business? Here are some educated guesses…
- Autotask is roughly a $20 million company and remains in growth mode — though I don’t know how quickly the company is growing.
- Godgart will remain chairman for the long-haul I think. But in terms of overall business decisions, Cattini is now in the driver’s seat.
- I believe Autotask’s venture capitalists remain committed for the long-haul. I don’t sense that the venture capitalists are looking for a near-term exit strategy.
- In terms of long-valuations Autotask seems to have its eye on NetSuite — the publicly held SaaS ERP provider — as a sample comparison. Publicly held NetSuite has a price to sales ratio of 11.73, according to Yahoo Finance. Assuming Autotask is about a $20 million company, it sounds like Autotask could be worth about $220 million to $240 million — and each new $1 million in revenue raises the valuation by $10 million to $12 million.
- It sounds like Cattini’s mission is to grow revenues rather than IPO or sell the company near-term.
Again, everything above is base on some educated guesses coupled with some background interviews here at Autotask Community Live. I’m scheduled to meet Godgart on Monday and Cattini on Tuesday, and will be sure to ask them for their views on the items above.
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