One day after grim estimates on the potential death toll from the COVID-19 epidemic in the US sent stocks tumbling and amid a continuing economic fallout from the government’s response to slow the spread of the disease, all three major US indices gained.
Meanwhile, the federal government in the US continues to work on the specifics of how to funnel nearly $2 trillion into the American economy as part of the CARES Act stimulus package. And pharmaceutical and medical device companies are working day and night to develop better diagnostics tools and novel therapies to treat the virus while potential vaccines slowly make their way through the regulatory approval process.
Here’s the tale of the tape:
If you’re feeling the weight of being cloistered in your homes for several weeks now, have no fear Team SaaStr has compiled a list of five great tools that you can use for free to get you through this time! We’ll be releasing several upcoming posts featuring great tools and discounts that our community members are offering right now.
1. SurveyMonkey’s Free Templates
Where can I find the deal? Click here for SurveyMonkey’s List of ResourcesWhat are they all about? SurveyMonkey is a global leader in survey software. 20 million questions answered daily.
2. Hugo is Now Free Up to 40 Users
Where can I find the deal? Click here for Hugos’ Connected Meeting Notes – Up to 40 Users free so that everyone can stay in sync during this time.
What are they all about? Hugo is Connected Meeting Notes software that powers your team with centralized, searchable
The consumerization of business software changed all the rules. It blurred the lines between B2C and B2B products as enterprise companies began demanding the same kind of intuitive, well-designed user experience featured in consumer products like mobile apps.
We’re now on the cusp of another watershed moment: the consumerization of software distribution. This time, it’s less about blurring the lines between B2C and B2B than it is about getting rid of them all together.
As the first CMO at SurveyMonkey, Leela Srinivasan has been up close and personal with this transition and how it affects marketing. Leela sat down with me for a recent episode of the BUILD podcast to talk about this, along with how SurveyMonkey moved upmarket to serve the enterprise, how they leverage traditional marketing channels with a viral product, and much more.
SurveyMonkey grew up as a consumer-focused, self-serve oriented business, but today they’re stepping back
There are no easy answers, but we do know one thing:
When things come back, you will need everyone great.
Marc Benioff said one of his top mistakes was not hiring enough salespeople in 2009, during the peak of the last downturn.
At almost every company, if we’re honest, the “bottom” 10% doesn’t contribute that much if any value. If you have to cut, start there. Every VP, every manager, and probably even most employees know who isn’t contributing enough. It’s about a 20-minute discussion to align on who the bottom 10% is. Beyond that is harder.
Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between.
Yesterday we explored what the SaaS world thinks about churn. A cohort of SaaS executives surveyed by Gainsight are expecting medium-bad churn (our take on their reported forecasts); select software companies will see booming demand; and the impact of churn won’t be felt evenly around the world, leaving some markets stronger than others, offering SaaS startups and their public brethren a chance to grow.
What mattered (read the piece if you have time) is that there is a general expectation that churn will rise as the world’s economy slips in the face of a historic pandemic and its constituent city- and country-wide shutterings. In time, we should see the impact of rising churn in public earnings reports, lower startup valuations, slower growth curves, and changing go-to-market motions.
But, Continue reading "SaaS growth appears to slow as churn concerns rise"
Venture rounds are closing. We’ve seen seeds, As, Bs, and growth rounds in the past few weeks. And round announcements continue. Valuations are coming down a bit, but they are all over the map. It’s too early to draw any conclusions about pacing, however.
In fundraising conversations, founders are candid. Founders share the growth story of the business before the onset of the virus, and few of them have the visibility to project end of year performance. Some founders in market today are running dual track processes, choosing between raising capital and pushing toward profitability within a certain time frame. When asked about the decision criteria for selecting a venture partner, one founder replied with a single phrase: speed to close.
Many founders are wondering about the SBA programs and are looking for clarity on the rules. There are several programs including unemployment benefits for Continue reading "Observations about Silicon Valley Two Weeks into Quarantine"
In part one and part two of this three-part series, we discussed what kind of content early-stage SaaS companies and companies that have found a PMF should publish. In the final part, we’ll do the same for SaaS companies that are scaling.
Even though scalability when building a SaaS company is what interests most founders, scaling isn’t easy. This is why most companies don’t ever get there, even if they’ve managed to find a product-market fit.
What gets you from product-market fit to scaling is different, so the ingredients of the recipe have to change. As you can imagine, one of the things that changes is the kind of content you create and publish.
Some facts about this stage:
You have authority in your niche—and an audience that follows you and consumes your content
You’re looking for repeatable and scalable ways of generating new product-qualified leads
A recent redbound in domestic equity prices faded further into the distance today, as American stocks fell for a second consecutive day following modest Tuesday declines.
After rising from new 52 week lows, all domestic indices after the American president warned of difficult weeks ahead as the country reels from the economic and social impacts of COVID-19. The day’s trading left stocks down heading into Thursday, when a new unemployment claim number is expected.
Some are anticipating a worse number than last weeks 3.3 million claims, a result that was historic in size. If tomorrow’s report is as bad as some expect it would underscore the scale of economic damage the country endures as it seeks to stem the spread of COVID-19 after an initially slow national response that has since splintered into a patchwork of state-led efforts. Many Americans are staying home, a condition that could persist for Continue reading "Stocks fall sharply as U.S. government warns of hard weeks ahead"