Atlanta, Georgia-based MailChimp is expanding from an email platform to offering a slew of marketing services. And Mailchimp is on track to hit $700 million in revenue this year, according to TechCrunch.
Mailchimp now has 11 million active customers and has a total audience of 4 billion. Plus the company is on track for $700 million in revenue in 2019.
The decision for Mailchimp to start offering a full suite of marketing products is a big deal since the company has been offering email tools for the last 20 years. Ever since the company started, Mailchimp has turned down many acquisition offers and it is valued at multiple billions of dollars.
The marketing tools include technology for recording and tracking customer leads and the ability to purchase domains and build sites. And it also includes ad retargeting on Facebook and Instagram and social media management. Plus it will also offer business intelligence that leverages a new move into the AI to provide recommendations to users.
“What’s really key is the role digital apps, digital publishing and social media have played,” said Mailchimp co-founder and CEO Ben Chestnut via TechCrunch. “We can have a 10-employee company with a customer base bigger than 1 million. That’s a combination you couldn’t achieve before the growth of online.”
Mailchimp’s transition to a marketing company will be seamless. Over 1.25 million e-commerce orders are generated through Mailchimp campaigns. And over 450 million e-commerce orders were made via Mailchimp campaigns last year.
Plus Mailchimp’s customers have sold more than $250 million in goods through multivariate + A/B campaigns. As a result, Mailchimp will be able to benefit from the data and insights generated from these deals.