10x return on the $60m investment means getting $600m back. Depending on ownership stake, that's probably between $2.5b and $6b after IPO. A big multiple these days is like 20x, so that's $120m - $300m in revenue.
It may take some time to get there, but they'll almost certainly break $100m. The VCs at this round probably won't sell immediately after the IPO, either -- trying to make 10x in 2 years isn't the plan.
I think their sales team is going to be in for a long, hard slog. Yes, Redis is popular right now, but the middleware space gets harder every year. Cloud providers slurp up the easy, low-hanging fruit ("click this checkbox to add a managed Redis instance to your deployment"), so all that'll be left are the big, slow, complex enterprise sales. Yeah, they pay well, but it's a brutal, competitive sales cycle, and that kind of customer often wants a lot of high-touch post-sales engineering services.
FWIW, $25m was a pretty conservative estimate. One way to look at it is to take the number of employees and multiply by $200k. That would imply upwards of $50m in revenue. https://www.saastr.com/how-to-figure-out-your-competitors-re...
It may take some time to get there, but they'll almost certainly break $100m. The VCs at this round probably won't sell immediately after the IPO, either -- trying to make 10x in 2 years isn't the plan.
Also, 7+ years to that level isn't the worst, by any means. The more relevant metric is growth in the last couple years. If they're still doing 100%+ year-over-year, that's pretty great. https://redislabs.com/press/redis-labs-announces-10th-consec...