ChannelAdvisor increased its staff by 50 percent in 2013, and many of those jobs came in sales. The e-commerce service firm is looking to hire aggressively in 2014, says David Spitz.
The company’s chief operating officer talked hiring in a conference call with analysts Thursday evening after ChannelAdvisor (NYSE: ECOM) reported a record quarter for revenue at $29.5 million and $68 million for the year. (WRALTechWire has coverage of the report.)
ChannelAdvisor increased its staff to 600 from 400 over 2013, with many of those jobs coming in sales as reps drove revenue.
Brad Reback of Stifel asked if ChannelAdvisor might double again in size as it has since 2012.
“I think the way we think about it is we want to continue to invest aggressively,” Spitz replied.
“We have resources obviously, first IPO, that we didn’t have pre-IPO and we continue to deploy them heavily into the sales team. The way I really look at it is as long as we continue to see the returns that we wanted to see out of our sales team, we’re going to continue — as John and Scot — what we believe it will be a very large market opportunity that’s underpenetrated and a lot of opportunity in front of us. And so we’re going to continue to invest pretty aggressively.
“As long as we see the returns on that investment come to fruition, so I don’t know if that from a time horizon perspective, it’s hard to answer that question other than to say we’re going to continue to aggressively invest and monitor our performance over period of time and continue to expand. If you look at — I think if you look at for example our entry into China that we just announced last year, a, with the opening of Hong Kong office and b, with the appointment of the Management Director and the office in Shanghai.
“At the beginning of the year of 2013, I think we had one or possible two sales reps covering China. And so when you think about the size of scale of that market relative to really having almost nobody focused on it. There is a lot of capacity there for increasing our sales count. I would say the same is true Latin America. Certainly in Europe, there is — we continue to higher aggressively and potentially other regions beyond. So I would hesitate to sort of put a pin on exactly when we might double again, other than to say we’re going to continue to invest at a pretty aggressive pace.”
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