Zoom and CrowdStrike hang onto 2020 gains despite huge earnings expectations


This post is by Alex Wilhelm from SaaS – TechCrunch


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Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between.

Yesterday after the bell, Zoom and CrowdStrike reported earnings. The two technology shops, members of the SaaS cohort of public companies that has performed so well this year, had high expectations to meet. This column noted on Monday that both companies could help set market sentiment regarding SaaS valuations at firms thought to enjoy a strong updraft from COVID-19 and its related market disruptions; working from home means that many companies needed new, better video conferencing abilities and more security tooling, the two things that Zoom and CrowdStrike provide. If the pair failed to detail strong recent performance, their share prices, long rising, could have dramatically corrected. But, in a huge boon to public SaaS companies — and, therefore, late-stage private SaaS valuations and early-stage SaaS investment — Zoom Continue reading "Zoom and CrowdStrike hang onto 2020 gains despite huge earnings expectations"

Ahead of its 2015 debut, Atlassian’s IPO deck detailed a financial rocketship


This post is by Alex Wilhelm from SaaS – TechCrunch


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TechCrunch recently dug into Atlassian’s IPO deck, detailing how the company prepped the document and took it on the road. It’s worth your time. Read it.

It’s always interesting to dig into a company’s IPO documents and decks after they’ve debuted, as with the benefit of passed time we can learn quite a lot. This is especially true in the case of Atlassian, a company that has seen its share price multiply since its 2015 public offering; outliers are always more interesting than pedestrian results, and Atlassian’s IPO-era materials are fascinating. In this companion post we continue our dive into the firm’s IPO deck, this time parsing the document from a financial perspective. Ron got the first-person story and the context; here we’ll dig into the company’s reported financial results, with a focus on how well-prepared to grow and profit the firm appeared at the time of its public Continue reading "Ahead of its 2015 debut, Atlassian’s IPO deck detailed a financial rocketship"

How Important Are Happy Employees When VCs Invest?


This post is by Jason Lemkin from SaaStr


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Do startup investors care about how employees are treated where they invest?

The reality is VCs for the most part sort of care.

What I can tell you 100% for sure is one you have even a small team, VCs:

  • Will all look at your Glassdoor ratings. This is so easy to research / see.
  • Will all do due diligence at least on how CEO is perceived, internally and externally. After all, this is a big part of the bet. At a minimum, they’ll talk to prior round investors for sure. And anyone in their extended network they know that used to work there.
  • Do background checks on CEOs and generally all co-founders. This is pretty standard. But sometimes, not much deeper than looking for criminal acts, fines, etc.
  • Are looking for inspirational leaders, especially in SaaS/B2B.  After all, you are always selling as a CEO.  To customers.
    Continue reading "How Important Are Happy Employees When VCs Invest?"

How Long Should You Give a New Sales Rep?


This post is by Jason Lemkin from SaaStr


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The tough truth is from 0.5–1.5 sales cycles.

  • Sales is tough. It’s a lot of No’s to get to a Yes.
  • And while sales is pretty similar in SaaS at a given price point / ACV, different products are still different to sell. A rep good at one product can fail at selling another.
  • Training and support matter. Not all reps can work with the limited support, onboarding and training you get at a start-up.

The best reps “get on the board” fairly quickly.  They may not immediately hit quota (few do).  But they find a way to close something relatively early.  At least, 1 or 2 deals. If you don’t see that in 0.5–1 sales cycles, it rarely works out. They lose their confidence. They haven’t been trained properly. They don’t have the right types of leads and prospects.

You don’t have Continue reading "How Long Should You Give a New Sales Rep?"

How to Connect with Influencers and VIPs: The Exact Email Scripts I Use


This post is by Alex Turnbull from Groove Blog


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Want to know how to connect with influencers and VIPs? Here are two word-for-word email scripts you can use in your outreach. “How did you connect with ____?” It’s a question that I get all the time. Whether it’s a VIP that we published an interview with, a publisher whose blog we guest posted on, […] The post How to Connect with Influencers and VIPs: The Exact Email Scripts I Use appeared first on Groove Blog.

The Top 10 Cloud Stories Of The Week: Tech Flees SF, Carta, Dell, TI Calculators and More


This post is by Jason Lemkin from SaaStr


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We crossed 350,000 (!) followers for Cloud Daily! from SaaStr on Quora this week. What were the most popular stories of the week? Let’s take a look: #1. “A study found that tech workers could flee dense San Francisco for suburban-like San Jose in the heart of Silicon Valley amid remote working boom”.  What will San Francisco Silicon Valley look like after this?  We don’t know.  We do know it has flattened. #2: “$3 billion Carta slashed its revenue goal but kept hiring anyway, leading to massive layoffs in April. Insiders describe whiplash and organizational chaos as the company attempts an ambitious new pivot.”  So much change, so quickly, the past 100 days. #3: “Where Are Most Tech Layoffs? Not Silicon Valley”.  The layoffs are happening at many tech companies.  But they are laying off folks based elsewhere more. #4. “Dell Halts Continue reading "The Top 10 Cloud Stories Of The Week: Tech Flees SF, Carta, Dell, TI Calculators and More"

The Top 10 SaaStr Videos of the Week: Flexport, Craft Ventures, Aileen Lee, Homebrew, and More


This post is by Jason Lemkin from SaaStr


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Streaming is way up … even in SaaS.  So what are The Top 10 SaaStr Videos of the Week? Let’s take a look on what you need to get caught up on! #1: “The Cadence: How to Turn Your SaaS Startup into an Army” With David Sacks.  This was a great session from NewNewVenture.com this week where David walks us through what he learned at Yammer, PayPal and more on how to navigate from 50-500 employees.  A classic already.  Watch it. #2: “Decacorns & Unicorns in 2020: Founders Fund Keith Rabois and SaaStr’s Jason Lemkin”.  Another terrific New New session, and one of the most insightful and open conversations with Keith I’ve seen.  We talk a lot about where things really are today, why and how things are and will bounce back, and more. #3: “Seed Investing Today: What’s Changed, What Hasn’t with Continue reading "The Top 10 SaaStr Videos of the Week: Flexport, Craft Ventures, Aileen Lee, Homebrew, and More"

The X’s and O’s of SaaS: Capital Markets Roundup for 5/29/2020


This post is by Sean Fanning from Openview Labs


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Outlined below is a collection of key financial and capital market resources from the week ending 5/29.  “If you bought Workday right after IPO and held through today, you’d be sitting on 18.7% IRR and a 2.7x gross multiple of invested capital—buying SaaS equities after IPO and holding long term is foolproof.” Permabull investors point to Workday as their overwhelming proof that SaaS is a guaranteed successful long term investment. But “long term” is an undefined phrase. In the age of algorithmic and high frequency trading a week could be considered long term. Conversely, per Michael Burry in the early 2000s, “…[I] recommend that members of this investment vehicle judge my performance over a period of five year or greater…this will prove to be the most fruitful and enjoyable manner in which to participate in the fund.” A 5+ year horizon is idealistic considering that
Continue reading "The X’s and O’s of SaaS: Capital Markets Roundup for 5/29/2020"