Tibco Software Inc. (NASDAQ:TIBX)’s stock might have been on a downside over the past 45 days, however its CEO feels that the best days for the company are ahead.
Vivek Ranadive, CEO of Tibco Software Inc. (NASDAQ:TIBX) was on CNBC earlier today and he discussed about the future growth prospects for the company. He explained about the growth curve of the company so far and how Tibco can play and important part in the transition from slow data to fast data.
“We’ve grown 20-fold, we are over a billion dollar company and we think our best days are ahead of us.” Ranadive said about the growth prospects of Tibco Software Inc. (NASDAQ:TIBX).
He said that the company has made adjustments to address the changing market needs. The company has started focusing on the low end of the market and he said how Tibco Software Inc. (NASDAQ:TIBX)’s products are the best in the industry.
“Everybody in the industry would tell you that we have absolutely the best products and so we just have to find ways to get them to our incredible customer base” Ranadive stated.
He said that the NBA should not be seen as a liability and he thinks it’s a big opportunity for the company. He compared Basketball with software industry and he said that is a social network on hand and a perishable inventory on the other. So every company thinks of itself in the exact way. He said that Tibco Software Inc. (NASDAQ:TIBX) is the last defense for companies that think this way.
He said that the transition in the subscription revenue has had a good impact on the markets and he said that about 20% of the software product revenue would be from subscriptions in the coming year. The subscription base this year would be 9% which would increase in the coming year to 20% and he said that the time based revenue would be 75% – 85% on a whole.