Bootstrapper success story: Seattle startup Papertrail sells to SolarWinds for $41M in cash
Summary
Seattle-based Papertrail, a 5-person cloud-based log management startup, has been acquired by Austin, Texas-based SolarWinds for $41 million in cash. “Papertrail is a thriving, profitable business trusted by tens of thousands of customers,” said co-founder Troy Davis in a blog post. “That’s been fulfilling enough that we’re ready to “double down” and deliver amazing log management and infrastructure visibility at an even larger scale.” Founded in 2011, Papertrail never raised outside financing. The company today announced financial results for the first quarter, reporting revenues of $116.8 million, an increase of 22 percent over the same period last year. “Regardless of the type, importance or location (AWS, Azure, Google or a datacenter), we will offer a heterogeneous application and website management solution to help manage and ensure performance,” said Kevin Thompson, President and CEO of SolarWinds in a statement.
