STRATACACHE TOWER Seen As Home To $5B Revenue Company By 2025
February 20, 2019 by Dave Haynes
STRATACACHE CEO Chris Riegel is doing a press conference this morning in Dayton, Ohio to lay out for local media why he has recently bought two of the largest office properties in the city’s downtown.
He says the intention is to move 150 staffers into the buildings in the next couple of years, and to pump $30 million into the buildings for modernization. The taller of the two office blocks will be renamed STRATACACHE TOWER.
He plans to add another 300 jobs in those buildings over the next five years. A total of 450 bodies won’t fill 40 floors, unless they all get window offices, so the buildings are as much a commercial real estate play as an office location decision.
Dayton, from Riegel’s perspective, is undergoing a renaissance – a one-time boomtown based on manufacturing that then went on a downward spiral as factories closed or shifted south to places like Mexico. I chatted with him in Amsterdam, and he was saying how places around Dayton that a few years weren’t safe to walk now have latte-clutching soccer moms in yoga gear.
Riegel is laying out at the press conference what he calls Vision 2025 – a plan that would see his company grow to $5 billion in global sales. It’s a private company, so numbers aren’t readily available – but Riegel regularly says when speaking or being interviewed that he’s heading to $1 billion in annual sales.
That will come, Riegel says in the Vision 2025 deck, from the core software business and its related pieces, as well as AI/deep learning, consumer insights and smart sensors – the latter stuff coming via the acquisitions of Walkbase and PRN.