Traction Watch: Okta grows by embracing its frenemies
Okta is a six-year-old identity management company that expects to make $100 million in revenue this year. The company has connected 3.4 million "identities" of users so far. It's a fast-growing startup and, as CEO and founder Todd McKinnon explains, one of the reasons for their growth has to do with "embracing their frenemies" -- a concept that seems counter-intuitive.
To bring this point home, McKinnon pointed out during a talk at DEMO Traction that one of Okta's main competitors is Microsoft, a company that is well-known for identity management. Okta has accepted the fact that Microsoft can help educate people and establish the market for cloud-based identity management. The tech giant can convince new customers of the need and value. Okta can then offer a solution that may not be a household name but provides complimentary services. Watch the video below to learn how Okta is making it pay to be frenemies.