ServiceTitan

“I think it'll be the next one to IPO. Some people think it'll be, it could be in Q one.”

“So today, today it's at six hundred million in ARR selling HVAC software and plumber software growing 40 to 50% cash flow neutral.”

“In every case where there was doubt about an individual, that doubt has it every single time. Proven to be justified. And it turned out that that person was the wrong guy. It has never happened where given an extra six months, nine months, there's been some tr…”

“For us, it was similar. The overnight success story, that overnight piece was like over a decade long.”

“Yeah, I would say that was an example of us not seeing the opportunity to build a great payment solution. And we should have done it earlier.”

“Anytime you're doing something new, going up market, going down market, building a new product, going into a new customer segment, you know, you're going from, you know, residential to commercial, or you're going from, I don't know, plumbing to roofing. I thin…”

“In any product that we are building, we always envision the ROI case of roughly How much ROI do we think this can generate for the customer? And then depending on confidence rate in that ROI, we will then determine what percentage of that ROI we think, you kno…”

“So this applies to all B to B software. It's ultimately all about ROI. The only reason the business spends any money on anything is because there was this expectation. Of, I am going to get some very significant return in exchange for some, you know, significa…”

“I'm almost glad I didn't know how hard it would be because there's a good chance I may not have done it.”

“In our pitch, we lead with our founding story. There's a lot more credibility that it establishes I think behind anything we say following that, but the rest of the quote unquote pitch, the product demonstration is all ROI.”

“I would take whiz and service Titan.”

“Service Titan is actually closer to LVMH than it is to Tesla. And that's fine. People should, you know, sort of invest in, you know, sort of brands that have, you know, sort of great distribution. Clearly returns can be made there, but let's, you know, sort of…”

“I think AI is going to do the same thing, that what it can do you know, with Service Titan, as they talk about automating the technician experience and the ability to go out there and have a co-pilot alongside of you.”

“We own 28% of Shopify and Twilio at IPO and we owned, you know, well less than that of Procore and Service Titan just because we, you know, included a lot of other investors downstream.”

“And as I think back on our vertical SaaS investments, you know, like a Shopify or a Service Titan or a Toast, when they added payments, it became that big Next Horizon unlock for them and really doubled the TAM and the market caps for these businesses.”

“We had fallen in love with our envy. We were chasing this round. It was going to happen in the two 50 or three hundred million dollar range. And, you know, we had these rigid rules about like, you definitely can't pay more than six times, six to eight times fo…”