FastSpring
{{Short description|E-commerce software company for online sales}}
{{Use mdy dates|date=March 2021}}
{{Notability|Corp|date=May 2023}}
{{Infobox company
| name = Bright Market, LLC
| logo = File:Fastspring-logo-new.png
| type = Private
| industry = SaaS
| foundation = 2005
| founder = {{Unbulleted list| Ryan Dewell | Dan Engel | Jason Foodman | Ken White}}
| location_city = Santa Barbara, California
| area_served = Worldwide
| key_people = {{Unbulleted list| David Nachman (CEO) | Sian Wang (CFO)}}
| products = {{Unbulleted list| Billing | Payments | Checkout | Personalization | Customer acquisition | Back office software}}
| homepage = [http://www.fastspring.com www.fastspring.com]
}}
Bright Market, LLC, dba FastSpring, is a software as a service (SaaS) company that offers a full service e-commerce platform for companies that sell software and other online digital products. The company was founded in 2005 and is based in Santa Barbara, California.{{Cite web |last=PYMNTS |date=2020-11-19 |title=FastSpring Acquires SalesRight To Grow eCommerce Solutions For SaaS |url=https://www.pymnts.com/news/partnerships-acquisitions/2020/fastspring-acquires-salesright-to-grow-ecommerce-solutions-for-saas/ |access-date=2024-10-10 |website=PYMNTS.com |language=en-US}}
History
Founded in 2005 by Dan Engel, Ken White, Jason Foodman and Ryan Dewell, the company is based in Santa Barbara, California. The four founders put in a combined $30,000 to launch the company.{{cite news |title=How These 3 Entrepreneurs Bootstrapped Their Million-Dollar Companies |url=https://www.entrepreneur.com/article/307927 |accessdate=June 28, 2019 |publisher=Entrepreneur |date=January 26, 2018}}{{cite news |title=Corporate Hack: How A Dozen Remote Workers Generated $100M |url=https://www.forbes.com/sites/johngreathouse/2016/03/30/corporate-hack-how-a-dozen-remote-workers-generated-100m/#5df739556f9f |accessdate=June 28, 2019 |work=Forbes |date=March 30, 2016}} FastSpring initially focused on companies selling desktop software and downloadable games, before moving into SaaS in 2011. In March 2011, FastSpring launched its subscription e-commerce platform for subscription-based businesses to manage online subscription payments.{{cite news
| author = Rip Emerson
| title = Online Subscription Billing Is Still a Hassle, SaaSy Aims to Change That
| newspaper = TechCrunch
| date = March 17, 2011
| url = https://techcrunch.com/2011/03/17/online-subscription-billing-is-still-a-hassle-saasy-aims-to-change-that/
| accessdate = September 18, 2013
}}{{cite news |title=FastSpring and SaaSy, easy ecommerce |url=https://www.networkworld.com/article/2202126/fastspring-and-saasy--easy-ecommerce.html |accessdate=June 28, 2019 |publisher=Network World |date=April 19, 2011}} The company received its first outside investment in April 2013 for an estimated $12 million from Pylon Capital.{{cite news
| author = Sarah Perez
| title = All-In-One E-Commerce Solution FastSpring Takes Its First Outside Investment From Pylon Capital
| newspaper = TechCrunch
| date = April 24, 2013 | url = https://techcrunch.com/2013/04/24/all-in-one-e-commerce-solution-fastspring-takes-its-first-outside-investment-from-pylon-capital/
|accessdate = September 18, 2013}}{{cite news |title=Investors jump on FastSpring as revenue soars |url=https://www.pacbiztimes.com/2013/04/26/investors-jump-on-fastspring-as-revenue-soars/ |accessdate=June 28, 2019 |publisher=Pacific Coast Business Times |date=April 26, 2013}} In 2018, Accel-KKR purchased a majority stake in FastSpring.{{cite news |title=Accel-KKR Backs FastSpring |url=https://www.wsj.com/articles/accel-kkr-backs-fastspring-1518637329 |accessdate=June 28, 2019 |newspaper=The Wall Street Journal |location=New York |date=February 14, 2018}}{{cite news |title=FastSpring Acquired By Accel-KKR |url=https://www.socaltech.com/fastspring_acquired_by_accel_kkr/s-0073745.html |accessdate=June 28, 2019 |publisher=Socaltech |date=February 14, 2018}}
FastSpring was recognized with a Silver Stevie Award for Customer Service Department of the Year in 2013{{cite web|title= 2013 Customer Service Awards Category Stevie Award Winners|url=http://www.stevieawards.com/pubs/iba/awards/408_2913_24122.cfm|publisher=Stevie Awards, Inc.|accessdate=September 18, 2013}} and again in 2014{{cite web|title= 2014 Customer Service Awards Category Stevie Award Winners|url=http://www.stevieawards.com/pubs/iba/awards/408_2942_24961.cfm|publisher=Stevie Awards, Inc.|accessdate=September 2, 2014}} and 2015.{{cite web|title= 2015 Stevie Award Winners|url=http://stevieawards.com/sales/2015-stevie%C2%AE-award-winners|publisher=Stevie Awards, Inc.|accessdate=July 27, 2016}} It has been a five-time Inc. 5000 honoree over six times.{{cite web |title=FastSpring |url=https://www.inc.com/profile/fastspring |website=inc.com |accessdate=June 28, 2019}}
In July 2018, Sian Wang was named CFO of the company.{{cite web |title=Interview with Sian Wang, CFO, FastSpring |url=https://martechseries.com/mts-insights/interviews/interview-sian-wang-cfo-fastspring/ |website=martechseries.com |date=December 19, 2018 |accessdate=June 28, 2019}} In March 2019, David Nachman was named CEO, succeeding Chris Lueck. Nachman was formerly CEO of government technology company Vision, and chief business officer of Velocify, a SaaS CRM business.{{cite web |title=FastSpring Appoints David Nachman as Chief Executive Officer |url=https://martechseries.com/sales-marketing/crm/fastspring-appoints-david-nachman-chief-executive-officer/ |website=martechseries.com |date=March 22, 2019 |accessdate=June 28, 2019}}
Products and services
FastSpring's platform offers digital commerce products for software, cloud-based, and as-a-service businesses, supporting a variety of digital products and distribution models. It enables purchases and subscriptions for desktop, mobile, and apps.{{cite web |title=How to make content marketing work - practical tips for success |url=https://diginomica.com/how-to-make-content-marketing-work-practical-tips-for-success |website=diginomica.com |date=April 15, 2019 |accessdate=June 28, 2019}}
- Global Online Payments
- Subscription Management + Billing
- Branded Checkout
- Global Taxes + Financial Services
- Risk Management + Compliance
- Integrations
References
{{Reflist}}
External links
- [https://fastspring.com/ Official website]
Category:Companies based in Santa Barbara, California
Category:Software companies based in California
Category:Software companies established in 2005
Category:Subscription services
Category:Software companies of the United States