LOGM
#<UNK>, this is <UNK>.
So I'll cover your deferred revenue question first.
Exiting the quarter there's about $7 million to $8 million of deferred revenue in our $137 million balance that is LastPass-related.
If you factor that out, year-over-year growth in deferred revenue is about 23%.
And then do you have a follow up there, <UNK>.
Yes, so on the pricing side.
This is something we've been pretty consistent on over the last couple of quarters, or last couple of years is that trying to bring more scientific approach and more rigorous approach to pricing and packaging.
I don't know that I would characterize going forward that it's a lot of price increases, as much as I would call it a lot of packaging changes.
For instance, even with Pro, we are now bundling in.
When you buy Pro, we're now bundling in LastPass and bundling in a terabyte of storage.
You're actually getting a lot more ---+ it's actually almost essentially a different product than it was 18 months ago.
Two years ago, 2014, it was just a straight-up price increase.
Now it's something that's very different.
We have a long way to go.
We still have products like rescue and Log Me Pro that don't have good, better, best pricing.
We have products that we think are well under-priced.
Even with where we have priced Pro, it's still 50% lower than its counterpart, its closest counterpart competitively.
That will just continue to be part of our ongoing cadence of our business.
Thanks for the question, <UNK>.
We really haven't seen much in the marketplace with regard to the potential spin-out of that business.
Obviously, it's something we're watching and we are aware of.
But we really haven't seen any changes in their go-to-market side or their approach.
So I really don't have any other comments on that.
Yes, thanks.
That's a great question.
And we have certainly, seen some competitive dynamics, I would say, tilt in our favor with the Bold product.
We've also seen some more secular trends, like the move to mobile.
We think we are a leader in mobile.
We really pushed in 2015 to improve our integrations with third parties.
And that really paid off for us in some of these larger deals.
You'll see us introduce video in the first half of this year.
We talked about that last year.
The pace of innovation for Bold has increased and will continue to increase.
I think the reason you're hearing more about it, not only because it accelerated through the year, but also because we do see more convergence between that, our Rescue business, and potentially our Xively business.
Yes.
So thanks again, <UNK>.
Xively, we were pleased with the progress we made from Xively, but it's still a pretty immaterial part of our business.
We had nice growth in the year.
We have some customer wins, as I talked about.
We launched some new features.
But ultimately this is a long-term play.
I think one thing that you'll see us do more of is improve our focus on partnerships in 2016.
We announced a partnership with Salesforce last year that I think will be meaningful going forward.
We just announced a partnership with Solid Works.
So I think that's going to be a bigger part of our footprint.
We are ---+ I'm still very enthusiastic about Xively.
And I'm really enthusiastic about the overlap it's going to have and the pull-through it's going to have in our rescue and bold business long-term.
We can, <UNK>.
So this is <UNK>.
Thanks for your question.
Actually we're really pleased with the fourth quarter.
We're really pleased with the way sales performed.
They actually exceeded our expectations during the quarter.
If you're doing the old ---+ the implied year-over-year bookings growth, the thing that you need to recall is that this time last year we were reporting a very, very strong fourth quarter from last year.
So it's a really tough comparable for us this year.
Last year in the fourth quarter we had a large number of large deals, including several that had multi-year components.
Again, we are really happy with the quarter.
I think you should focus on the deferred revenue growth year over year.
And again, it's just a really tough comparable.
That just has to do with the seasonality we have in our business that really began when we did the pre-conversion.
It's really has to do with that.
Thanks, <UNK>.
When I was referencing, we did have a price increase in December.
Didn't really have much of an impact on the quarter.
Those customers really started coming up for renewal earlier in January.
And so far the renewal rates have been exactly pretty much what we expected.
What I was actually referencing is, even after the price increase, we're still 50% cheaper than the comparable product, the like-for-like product.
I think the pivot for us has been more to make it about a bundled solution that brings in identity management and brings in cloud storage, two things we think are much more important to a cloud-centric type of product.
That's really been our focus, and changing it from just a remote access play into something that helps people in today's cloud-centric world.
All right.
Thank you.
Sure, <UNK>.
Thanks for the question.
Last half is it plays in the identity and access management space.
It depends on ---+ you could look at it a couple ways.
It's a market that by some estimates is $2 billion to $4 billion and growing in the teens.
I think if you look at cloud specifically, that's a smaller portion of that, and growing more rapidly as people move from legacy solutions that we would say we don't compete with, like Microsoft, active directory, and other things, but have cloud-based identity management solutions.
That's really the market we compete.
That's a market that is part of that $4 billion identity and access management space.
And it's the fastest growing segment.
We really think now with the acquisition of LastPass we are in a leadership position.
And it's a product we can also cross-sell to our large base of customers.
So we are really pleased with its performance thus far, and very excited about what it can do in 2016 and beyond.
Thank you for your questions tonight.
LogMeIn had a great fourth quarter and a very strong year.
We set our sights on some ambitious goals that we believe will help us double the business over the next 3 to 4 years.
We believe we can deliver this growth while continuing to produce the profits and class-leading cash flow that have become hallmarks of our business model.
And we believe we have the team, vision, experience and scale to become significant players in some of the technology's biggest and most transformative markets.
We look forward to sharing our continued progress when we reported our Q1 results in April.
Thank you again for your time this evening.
