Buffer, a social media management tool, has unveiled a radical new company structure and has surpassed $5m in annual revenue. The company, which started in 2010, has grown from a one-man operation to a team of 24. It now supports more than two million users, with 2,500 of them being paying customers. Buffer has adopted a ‘no managers’ structure, inspired by the likes of Valve and Zappos. This structure aims to empower individuals, allowing them to make decisions and take responsibility for their actions.
Buffer’s revenue growth has been impressive, with a 150% increase from the previous year’s $2m. The company attributes this growth to its transparency policy, where all salaries, revenue figures, and even its pricing model are publicly available. Buffer also believes that its culture of ‘default to transparency’ has helped to attract and retain talent.
The company has also made strides in its product development, launching Buffer for Business, which has already attracted 1,000 customers. Buffer for Business offers advanced analytics, team collaboration features, and more post slots. The company plans to continue its growth and innovation, with a focus on creating a product that people love, and a culture that empowers its team.
Go to source article: https://open.bufferapp.com/buffer-december-2014-new-company-structure-5m-annual-revenue/