Important disclosures appear at the end of this report
GP Bullhound LLP is authorised and regulated by the Financial Conduct Authority
GP Bullhound Inc is a member of FINRA
GP Bullhound Hong Kong Limited is authorised and regulated by the Securities & Futures Commission
September 2021
Consumer
Subscription
Software
Spinning the CSS
flywheel to delight
consumers
GP Bullhound Global Insights
2
The view from GP Bullhound
Fast-forward three years, most people will
have 5-10 different CSS business subscriptions.
Entrepreneurs are continuing to build better
products, and consumers are seeing value in
these services because they truly make life
better. For many of us, the idea of paying $30 per
year to improve one’s life is very appealing.”
Eric Crowley, Executive Director
We believe that the CSS business model
enables companies to rapidly scale with
attractive margins while also providing a
compelling consumer value proposition. We
are excited to help guide CSS companies
through the next chapter of their evolution.”
Alec Dafferner, Partner
Table of contents
Our CSS Index shows private
consumer companies are set to
drive lively IPO market
Key CSS insights
From our CSS flywheel to
Western / Eastern
models, here’s what you
need to know
Expert views from
company builders
What CSS leaders and investors
have to say
CSS metrics
to watch
Niche end-verticals highlight a
broad landscape
What investors focus on and
key nuances
Getting the fundamentals right
Past CSS insights
Current CSS
ecosystem
Market update
A leading technology
advisory and investment firm,
providing transaction
advisory and capital
About us
B C
A
CONSUMER SUBSCRIPTION SOFTWARE –THE VIEW3
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About GP Bullhound’s
CSS team
4
VICE
PRESIDENT,
RESEARCH
Jennifer.Eller@gpbullhound.com
Jennifer Eller
GP Bullhound’s CSS team
CONSUMER SUBSCRIPTION SOFTWARE
GP Bullhound’s CSS team leverages decades of collective experience, proprietary intelligence, deep industry relationships,
and leading data sources to identify and