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02
City of Pleasanton
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2019
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051619
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12/3/2019 12:04:50 PM
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5/13/2019 3:06:33 PM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
5/16/2019
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are able to maintain a 20-30% gross margin <br />on the services we deliver went a long way in <br />terms of capital efficiency in our early stage." <br />3)Targeted Go -to -Market Approach: "We focus <br />on a single industry and that has afforded us <br />the opportunity to be very capital efficient <br />especially in our sales & marketing approach. <br />For example when we Launch a new product, <br />we focus our efforts on a few early adopters, <br />If we do Well with our early adopters and can <br />enable their success, they Will tell the rest <br />of their industry Which Will in turn drive our <br />success. We aren't out trying to maximize <br />the number of new logos in the early adopter <br />stage, we focus on early customer success." <br />Q: Why the Tri -Valley? <br />To Veeva, the Tri -Valley has been a vital <br />component of their success. "Pleasanton <br />has definitely been a great place for Veeva. <br />Since the beginning, the Tri -Valley has been <br />our home. We've been able to grow the <br />company after buying the building for our <br />corporate headquarters which has enabled us <br />to proliferate a very strong and evident culture <br />at Veeva. There's a great talent pool here and <br />because of our location we face a little less <br />competition than I imagine our competitors <br />in San Francisco or the Peninsula do. <br />Veeva Systems (NYSE:VEEV) is one of the <br />companies held in the Mirador Tri -Valley <br />Index (MTVX). Stock price is up 72% over the <br />last twelve months and 268% over a two year <br />period. For Q4 2o18, top -line revenue was <br />$232 million which generated $67 million of <br />EBITDA, representing 26% and 73% year-on-year <br />growth, respectively. The company recently <br />noted that it would be reaching the $1 billion <br />annual revenue mark ahead of schedule. <br />"We've been <br />able to grow the <br />company after <br />buying the building <br />for our corporate <br />headquarters which <br />has enabled us to <br />proliferate a very <br />strong and evident <br />culture at Veeva." <br />Tim Cabral, CFO <br />16 <br />
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