Didomi Revenue, Valuation & Funding (2026)

Didomi V2.txt English (US) 00:00:00.040 — 00:00:29.600 · Speaker 1 We basically B2B software company and specialized in content management. So what we do is that we help entrepreneurs and mid-market companies to comply with privacy laws, and we raise the series B, €34 million or $40 million, and then we get Malling as a majority stakeholder back in April 2025. And he has paid quite a strong multiple above tenets, I can say. 00:00:29.640 — 00:00:33.360 · Speaker 2 Do you have any million dollar per year customers yet, or are you still fighting for that contract? 00:00:33.400 — 00:00:34.440 · Speaker 1 I have some. 00:00:34.840 — 00:00:39.080 · Speaker 2 You do? Congratulations. That's a surprise. I wouldn't have expected that. Congratulations. 00:00:42.200 — 00:00:56.560 · Speaker 2 Hey, folks. My guest today is Ralph Futurist. He's the co-founder and chief revenue officer of Dodo Meio, responsible for scaling revenue across the US, Europe and Latin America. He's also an angel investor in over 30 startups and is based in France. Ralph, ready to take us to the top? 00:00:56.760 — 00:00:58.920 · Speaker 1 Hi, Tom. Thanks for having me. 00:00:59.000 — 00:01:01.440 · Speaker 2 Okay, tell us what the company does and what you're selling. 00:01:01.560 — 00:01:20.670 · Speaker 1 We basically B2B software company and specialized in content management. So what we do is that we help enterprises and mid-market companies to comply with privacy laws like GDPR in Europe or CcpA in the US, and lots of other laws everywhere in the world. 00:01:20.710 — 00:01:28.190 · Speaker 2 This is like when I visit a website and I'm in Europe and it says accept all cookies or opt into consent, you're powering a lot of that 100%. 00:01:28.230 — 00:01:37.069 · Speaker 1 We are one of the largest providers helping the largest publishers in the world, including Gutenberg. Sky. Let's 00:01:38.750 — 00:01:50.790 · Speaker 1 dive into big marketplaces. I would say that basically wear them, sleep properly, avoiding fines and making sure that they can monetize. Also their their data in the in the legal way. 00:01:51.310 — 00:01:55.710 · Speaker 2 When you say you're the largest, what does that mean? Are you processing the most consents per day. 00:01:55.750 — 00:01:58.870 · Speaker 3 So we are not the largest, but I would say one of the largest. 00:01:59.150 — 00:02:14.820 · Speaker 1 We get an SDK that we display on the different websites, on our customers website. And just to give you one number, um, more or less two. 2% of the global web traffic is going through our SDK 2%, which is a very large number. 00:02:15.180 — 00:02:24.260 · Speaker 2 How many consents are you approving on a daily or weekly or monthly basis right now? Are we talking tens of millions or billions? Billions with a B. 00:02:24.580 — 00:02:45.660 · Speaker 1 With a B with a large b y? Because our customers are mostly publishers immersions, uh, very large traffic websites. If you're just an SMB with Google Analytics and a hundred of visitors, you don't go to dummy. You're going to choose something that is, I would say lighter when you don't need to customize a lot. 00:02:45.700 — 00:02:51.580 · Speaker 2 So just to be clear, you're processing billions of consents per month across your customer base. 00:02:51.620 — 00:02:52.420 · Speaker 1 Correct. 00:02:52.460 — 00:02:58.660 · Speaker 2 You know, everyone in the age of AI is trying to figure out how do you price per seat usage based something else? How are you pricing? 00:02:58.900 — 00:03:36.920 · Speaker 1 That's a great question that just before this interview, I was in the two hours workshop because we are revamping all the pricing. We basically price on the monthly unique visitors. Okay, so the more traffic you get on the different devices, the more you're going to be charged. And we are thinking of new ways. You write with agents, AI, but some websites, there are lots of different challenges, and we always want to bring more value to our customers through maturity models, through the different platforms that we acquire. Uh, so very large topic. But long story short, so far the movies though you get the more you get to pay. 00:03:37.040 — 00:03:45.000 · Speaker 2 Is most of your selling happening by automatic no touch upselling? Or do you have sales reps calling into your accounts with a quota target to drive, upsell and NDR? 00:03:45.400 — 00:04:27.390 · Speaker 1 I didn't mean you need to go to sales, okay? We have almost no reseller. Uh, so you go on our website to us for demo, you're going to get a sales. I try to to get the sales cycle shorter, because I think that buyers don't want to be sold too much through first meeting, second meeting, third meeting. But anyway, if you are an enterprise with 20 stakeholders, you're going to go through this process. We are covering different segments of customers, and the domain is super focused on enterprise and mid-market. And I don't really believe that you can, you know, pay hundreds of thousands of euros IRR without talking to to say not yet or we haven't succeeded to to do that so far. 00:04:27.510 — 00:04:36.550 · Speaker 2 Adding well was plug acquired them in April 2025. What was their average revenue per customer when you acquire them and we're talking like ten bucks a user or like a thousand a user. 00:04:36.590 — 00:04:53.270 · Speaker 1 No more than one that drops, I would say a few thousand euros IRR because that was a mix, you know, between PSG. That was very efficient. When I opened the data room, say, wow, that's a fantastic model. And who says that? Because they also get some mean markets and enterprise. 00:04:53.310 — 00:04:57.150 · Speaker 2 Okay. And what was that company doing total and IRR before you acquired them. 00:04:57.430 — 00:05:00.030 · Speaker 1 A few millions in. They are but something that they could say. 00:05:00.390 — 00:05:06.540 · Speaker 2 Why acquire them. Were you acquiring the sales motion. Was it a product. Were you acquiring the team. What was the number one reason. 00:05:06.540 — 00:06:12.290 · Speaker 1 We raised this all series? Be back in 2021. You know, that was a very intense year in terms of fundraising. There was lots of money. Um, and then we had the two great years 2024, 2020, 2023, 2024. But we were almost focused on one content management platform product. So as a crew, I needed to get some cross-sell. And as it takes more time, you know, to develop new lines of products. We're already looking to do some M&A and look for cross-sell products. So what you you should do as a founders is you just need to ask your customers and your partners what are the best tools that you are using or that can make sense to complement our offer. And we bumped into adding, well, um, and we say, oh, you get a great business, more or less the same ICP, more martech than privacy tech, but that can be a very good bender and we can do lots of cross-sell. So then, yeah, we designed it to, to, to make an offer and then to, to look for the money. 00:06:12.330 — 00:06:14.730 · Speaker 2 Are you comfortable sharing the multiple range you paid for adding. 00:06:14.730 — 00:06:55.650 · Speaker 1 Well I cannot, but I can say it was uh, we paid kind of a premium when we approached them. They had less than three years and the growth was just insane. And the media was so positive that they can pay, you know, some dividends. So there is a big trade off between selling and keeping the company and milking the company. So we paid a good price that also. That's also the reason why we did a roadshow and handed raising money from the PCM. We did double track between VC and NP, and P was much more adapted for the next phase of the domain, doing more and more M&A consolidation. 00:06:55.770 — 00:07:02.370 · Speaker 2 My research team only told me that in 2021 you raised a 40 million series B, did you raise money prior to that? 00:07:02.410 — 00:07:43.630 · Speaker 1 We raised three rounds, one very small round that you cannot find in the press. That's we possess on jet, but I would say that's 200. Less than €300,000. Okay. So very small dilution. Then we raised 5,000,000 in 20. End of 2019 with a French DC that is called Brega. That is still there. A long term partner. And then we raised the series be €34 million or $40 million back in summer 2021. And then we got Marlene, uh, as a majority stakeholder back in April 2025. 00:07:43.670 — 00:07:59.070 · Speaker 2 Going back to the 2021, I mean, so many companies were trading for insane valuations back then. U3 being smart founders said, hey, we should take advantage of this. If you are a good negotiator, maybe you traded at 1520, 30 x forward looking RR. Is that true? 00:07:59.830 — 00:08:49.140 · Speaker 1 We treaty. That's a strong multiple. That's what I can say more than what is trading now. Uh, we knew for sure that, uh, that was kind of a bet. So we had different offers and also for the story we raised with elephants and they approached us before series B, they were kind of aggressive. It's they do outbound and they say okay with it. Big research on your company. This is why you're exceptional. This is why we want to invest. And then we say, okay, you get one offer but you need to do research. So you need to challenge to see what's your value on the market. And then at the end we say, hey guys, you're interested. We get different offers from Sierra VC. Are you still interested? And they say yes and yes. They paid quite a strong multi. 00:08:49.140 — 00:08:52.620 · Speaker 2 But did you trade for larger than a 20 x multiple. 00:08:52.740 — 00:08:54.580 · Speaker 1 Cannot answer this question but 00:08:55.860 — 00:08:56.180 · Speaker 1 well. 00:08:56.180 — 00:09:02.100 · Speaker 2 Give me a wide range. I'm trying to get a sense of it was like five x or 50 x. Can you just give me a really broad range of it. 00:09:02.140 — 00:09:05.460 · Speaker 1 It's not a 5 or 7 x. So it's more than that. 00:09:05.580 — 00:09:06.420 · Speaker 2 Above that. 00:09:06.460 — 00:09:08.020 · Speaker 1 Above ten x I can say. 00:09:08.060 — 00:09:23.210 · Speaker 2 Okay, above ten x. Fair enough. Okay. So now the question to you is, you know, you're one of the founders. Obviously, the team is excited in 2021 about their equity. Right. There's new investors coming in now. You know everyone not just you. Everyone's trading at lower multiples. How do you manage the psychology of your team and their options potentially being underwater? 00:09:23.250 — 00:09:44.170 · Speaker 1 That's a great question. So I think we get long term employees. Okay. That got, uh, stocks at a very, very low strike price. Okay. So I would say that we get early employees that we're very, very happy. And we got employees that join in 2021 that made less money. 00:09:44.290 — 00:09:55.730 · Speaker 2 You're ten years into this since the launch in 2017, you know, really good founders will try and find a way to create liquidity. A little liquidity, both for themselves and early employees. Was any part of that for 40 million series B a secondary. 00:09:55.770 — 00:10:05.690 · Speaker 1 There were secondaries? Uh, not as much as when the B came in. But yeah, there was liquidity. And especially for the business angels. 00:10:05.890 — 00:10:10.930 · Speaker 2 I don't understand how the company is growing as you're thinking about these funding rounds, what year did you pass a million of IRR? Do you remember? 00:10:10.970 — 00:10:30.000 · Speaker 1 I think it was more or less when we raised, uh, the 5 million with, uh, with Brigham. Company was launched in 2017. We started to sell early 2018. I mean, I think that in less than two years, we did the first million of AR. 00:10:30.520 — 00:10:32.720 · Speaker 2 And when did you break? 10 million. 00:10:33.200 — 00:10:37.800 · Speaker 1 Maybe 2020. Maybe end of 2023, something like that. 00:10:37.880 — 00:10:47.120 · Speaker 2 And now that you've got private equity on, are they demanding at board meetings or off. You got to be growing 200% year over year or what's what's the goal for 2026 in terms of growth rate? 00:10:47.160 — 00:11:39.350 · Speaker 1 I think that they also I wouldn't say patient, but we made two acquisitions in a row, uh, which is a lot. So I think that the first priority is to make these two acquisitions quite successful because ingesting the injected money also for these acquisitions. Okay. So that was the first step. Second step. They also want to make sure that you get the right people in your C-suite, To succeed in the five coming years. At the end, they just want you to be efficient so you have 40 years to grow by 40%. You can be breakeven. You should grow by 20%. And now, you know, with AI because you mentioned in that and uh, more and more, more and more, you get the rule of 60, which is challenging. But, uh, if you want to be a tier one company in 2026, you need to reach it. But we're not there. 00:11:40.310 — 00:11:41.870 · Speaker 2 Are you profitable today? 00:11:41.910 — 00:12:02.270 · Speaker 1 I think this question is quite complex because as we require, we acquired one profitable and one unprofitable company and the domain was given. So no, I would say we we are more or less I would say more or less depends the way you compute it. But the group is more or less fluctuating and depends on the investments. 00:12:02.270 — 00:12:16.330 · Speaker 2 But I'm trying to get a sense if you're a gamble or not. What's your risk tolerance? Is was there any point of time before you raised from Marlin in April 2025, where you burned through the full 40 million series B and your bank got so low you considered shutting the company down? 00:12:16.330 — 00:12:48.610 · Speaker 1 No, absolutely. That's, uh, we we had lots of cash. Uh, and, uh, we are not gamblers, even if I've been a bookkeeper for 20 years. But we are not gamblers with the company, with people's lives. So we didn't want to be in a situation when we had to raise. So, for instance, just after series B, when we saw the collapse in the stock market in March 2022, we said, okay, the plan that's a series B plan. That's crazy. So we still have tons of money in the bank. Uh, we need to be capital efficient. 00:12:48.650 — 00:12:52.930 · Speaker 2 Were you growing like 100% year over year in 23, 24, 25 or more or less? 00:12:53.290 — 00:13:08.930 · Speaker 1 Less. Less because more or less. Less 2023 2024. We we're targeting an efficient growth. Okay. So I would give you the range 20 to 50%. Why not burning all not burning a lot. 00:13:08.970 — 00:13:19.080 · Speaker 2 We negotiate with Marlin in 2025. There's a lot of my listeners wondering what do growth equity firms pay? What multiples are they paying today? Are you comfortable sharing what multiple you negotiated with Marlen and why they were the right partner? 00:13:19.960 — 00:13:46.280 · Speaker 1 I could not I cannot mention the multiple, of course. Uh, but I would say this is a great multiple. And you know, with P, what is great is that to get the buyer that is paying a fair price, and it's very different from the stock options, the liquid preferences. So that's what we like. You know. And we didn't try to over negotiate valuation because as founder you roll out tons of year. You do a big rollover of your equity. 00:13:46.400 — 00:13:55.040 · Speaker 2 So anymore I mean you trade it above ten and 21. It's fair to say 2025. You were you were maybe a, you know, above two x but below ten x. Right. Something in that wide range. 00:13:55.080 — 00:13:57.560 · Speaker 1 I can say this range 2 to 10 is the. 00:13:57.600 — 00:13:59.240 · Speaker 2 Yeah it's a big range. 00:13:59.400 — 00:14:03.680 · Speaker 1 Two is really low and ten is quite high for P. So that's a big one. Yeah. 00:14:03.880 — 00:14:13.520 · Speaker 2 And you were and you were saying that time period you're growing 20 to 40% year over year. So on a 10 million base in 23 you were doing something like 15 to 18 million of revenue in 2025, something like that. 00:14:15.110 — 00:14:16.070 · Speaker 1 Not too far. 00:14:16.230 — 00:14:29.550 · Speaker 2 As you think about moving into sort of 2026, you've obviously done some massive acquisitions. A lot of the press was reporting, I mean, that Source point acquisition, I mean, you weren't materially bigger than them, right? Would you agree that that was sort of a combination of equals in terms of revenue sizes? 00:14:29.950 — 00:14:33.390 · Speaker 1 We're bigger than them in terms of AR. Okay. Yeah. 00:14:33.430 — 00:14:35.590 · Speaker 2 But they'd raised 48 million bucks, right? 00:14:35.830 — 00:14:50.469 · Speaker 1 They raised tons of money and they launched earlier than us. Maybe that was the the the the the the trap. Uh, but what was great is the quality of their customers. So the ACV was much higher than the domain. Uh, the 00:14:51.830 — 00:15:16.980 · Speaker 1 big multiple, because we get lots of mean market that didn't meet. So the quality of their customer portfolio and also the geos, you know, a companies that has lots of enterprise customers in the US and in UK is worth more than in other geos. So that was the perfect acquisition for the domain. And now we are very happy. It's hard to know the story, uh, looking forward but looking backward. We are more than happy. 00:15:17.020 — 00:15:18.540 · Speaker 2 How many customers are you serving today? 00:15:18.540 — 00:15:20.940 · Speaker 1 Now at the group? Within 00:15:22.100 — 00:15:23.980 · Speaker 1 3.5 K customers. 00:15:24.260 — 00:15:30.300 · Speaker 2 That's amazing. Okay. And I mean, do you have any million dollar per year customers yet or are you still fighting for that contract? 00:15:30.340 — 00:15:31.380 · Speaker 1 I have some. 00:15:31.780 — 00:15:36.020 · Speaker 2 You do? Congratulations. That's a surprise. I wouldn't have expected that. Congratulations. 00:15:36.180 — 00:15:39.580 · Speaker 1 I can imagine the name that we get one multi-million dollar customer. 00:15:39.620 — 00:15:41.980 · Speaker 2 Tell me more about your team size today. How many full time? 00:15:42.740 — 00:15:46.460 · Speaker 1 Um, we are a bit less than 200 full time employees. 00:15:46.980 — 00:15:49.500 · Speaker 2 How many are engineers versus, like, sales team? 00:15:49.780 — 00:15:59.180 · Speaker 1 Revenue team is half of the company and architect plus engineers plus support team is the whole process. 00:15:59.540 — 00:16:05.380 · Speaker 2 Let's wrap up with AI. Where are you taking your product? Your customers are listening to this interview. What do you want them to know about your product roadmap? 00:16:05.620 — 00:16:33.560 · Speaker 1 AI we have more and more. Uh, it's in the plan, but that's not in industry comprehends where you are gonna rush to put some agents because compliance is quite complex and you want to you cannot take too much risk. It's not like in the voice industry or retail or other industry. But yes, it's coming. I would say that for the dynamic group, we have massively invested internally in our operations so far. Not a lot of AI that is in the product suite. 00:16:33.640 — 00:16:38.280 · Speaker 2 Okay. Make sense? And are you comfortable sharing just overall combined company. The revenue range today. 00:16:38.520 — 00:16:43.200 · Speaker 1 In dollars 40 to $60 million a year. 00:16:43.720 — 00:16:52.640 · Speaker 2 Go go back ten years to when you launch this thing Ralph, did you ever imagine you'd be, you know, running and serving 3500 customers with 40 to 50, you know, 40 to 60 million of IRR? 00:16:53.000 — 00:17:12.560 · Speaker 1 No. To be honest, we we have always been very ambitious, but it has been a step by step game. Uh, and, uh, no, that's fantastic. And I think that's every phase has been crazy. And that's also why I like to invest. I like to share all the learnings, the different phases. Uh, I love that. 00:17:13.040 — 00:17:19.189 · Speaker 2 And what's your situation today? Like how old are you today? You know, married, single. What is your what's your life look like? 00:17:19.230 — 00:17:46.470 · Speaker 1 I'm 35. I'm father of three. Young kids, nine, seven and two. Uh, I live in southern France now. I quit Paris last summer for nice Cote d'Azur, French Riviera. Uh, what can I share? Uh, also actively investing in more than 35 companies. Also love to to do sports. Boxing. And I play poker. If you want to know everything about me. 00:17:46.990 — 00:17:52.990 · Speaker 2 So we're hosting a founder poker night in Paris. Get a sense? You're probably pretty good, so maybe. Maybe I don't want you at the table. You'll take all my money. 00:17:53.630 — 00:17:57.710 · Speaker 1 That's always what people are telling me. I want to invite you. I want to beat Beatrice. And nothing. 00:17:58.550 — 00:18:13.430 · Speaker 2 Guys did. Domi. I launched in 2017. My three co-founders with his team of 190 people, 80 on the revenue side and 80 on research, proc engineering, product managers, etc. doing between 40 and 60 million of IRR. Today, Rob, thank you for taking us to the top. 00:18:13.470 — 00:18:14.310 · Speaker 1 Thank you all.