The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 77 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 5 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
70% of Monday.com's customers are non-tech companies
“And up until today, 70% of our customers are actually non-tech companies and that, that's amazing because it just opens up the TAM and the audience of the company so much.”
Monday.com's CRM product grew from zero to $25M revenue in one year
“It wouldn't disclose this on a quarterly basis, but the last invested investor day which was last year it was growing from almost zero to twenty five million in, in one year.”
Monday.com sent automated daily performance metrics via SMS to its board
“Actually, one of the things we built into BigBrain is I don't know if Avi told you, but we used to send every day, like a daily SMS of the company performance every day to our board members. Whether it was good or bad, it was automatic.”
Monday.com spent 80% of its seed funding before pivoting
“And, you know, after you know, we kind of spend like 70 or 80% of our seed round, we sat down and said to ourselves, look, something is not working.”
Monday.com aimed for $1B ARR by 2023, missing the goal by one year
“When we got to 50, we built a dashboard. Of the road to, we call it the road to one billion. We built it like a vertical TV in the office showing that we want to reach one billion by the year of twenty-twenty-three. We actually missed it by one year”
Early mockups yield the same feedback as 14 months of building
“Because after 14 months working on that product, people gave me feedback that if I've shown them like a mock-up or like an earlier version, I would get the same feedback and I would be in a totally different place today.”
Software platforms should offer flexible tools rather than rigid workflows
“I don't know what's the best way to manage a team or a group of people or, you know, a business, but I can give people the tools to do it and they know what's best for their business. So from day one, we said we don't know exactly what's the solution for every…”
Companies will consolidate core SaaS tools onto Monday.com
“Eventually I see, definitely see a future We're accompanied by several tools and consolidate on Monday for the core business use cases, whether it's CRM, work management, that service, and the compound value of using several of those tools, the flow of data, a…”
Avi Eyal: Entrée's next 10 successful investments didn't equal monday.com gain
“I'll tell you that the next 10 investments that were successful didn't equate to the gain on Monday.”
monday.com had only six customers and six months runway before PMF
“The first eight, nine months of Monday, we didn't have product market fit. I remember we had like six customers and we had six months of cash left and then there was the breakthrough of hitting product market fit.”
Eyal: monday.com should have targeted enterprise a year earlier
“In retrospect, we should have gone off to the enterprise maybe a year earlier than we did”
Jason Lemkin Refused Initial Pitch Meeting with monday.com Founders
“And I was on, you know, I did this catch up with the monday.com founders the other day and they showed me the pitch email they sent me. It was the worst ever when they were starting. It had a different name. It was terrible. It's like, We're thinking about doi…”
Zinman has retained over 80% of his Monday.com equity since IPO
“Since the IPO, I still hold again, I don't know the exact number, but probably 80 something percent of my share. So I sold less than 20%. 14 years in this journey.”
Lemkin: Monday.com trades at 5x revenue despite growing over 30% annually
“Monday has been under a ton of pressure too, and it's growing much more quickly, right? It's not growing peak rates. It's still growing over a 30% trading at five times revenue.”
Lemkin: Insight Partners owned 43% of Monday.com at its IPO
“They own inside on 43% of Monday when it IPO.”
Zinman makes zero personal angel investments to focus entirely on Monday.com
“I don't do investments. I focus on a hundred percent of the company and I always try to set my own priorities because I think all those tools really distract you.”
Monday.com raised a $1.4M seed round at a $2M pre-money valuation
“We raised 1.4 million for at I think it was two million pre. So that, yeah, that's back in the days. Good times. Yeah. For investors. Yeah. 30% of the company.”
Monday.com had $3M to $4M ARR when raising its Series A
“I don't remember exactly, but I would say around probably three or four million of ARR.”
Monday.com reached $7M ARR before raising its Series B
“I think when we raised that round, we had like seven million of ARR.”
Monday.com operates independent, startup-like business units for each product line
“Yeah, that's exactly how we think about this. We have different business units dedicated for each product. Every product is in different phase. So, you know, CRM is more mature and then dev and then service and obviously work management is kind of the most mat…”
Monday.com has expanded its sales organization to over 1,000 people
“We built an amazing sales team, you know, going forward to today where we have more than a thousand people in our sales team, but it was not obvious back in the days.”
Monday.com's CRM is growing faster than the original platform did
“You know, the CRM today is growing faster than what Monday did back in the days.”
Monday.com's co-CEOs walk home together daily in Tel Aviv to brainstorm
“We actually, we walk home every day, like walking. We live in Tel Aviv, so we walk every day. We spend hours just to think and talk about things.”
Facebook advertising fundamentally changed Monday.com's growth trajectory
“Facebook was amazing for us because I think it just changed the trajectory of the company.”
Lemkin: Monday.com shifted operating margin from -10% to 20% in one year
“Monday.com went from -10% operating margins to almost 20% in one year.”
Zinman found every stage of leading Monday.com as CEO to be unnatural
“Everyone, every, every stage now. I've never done it before. It's a new experience for me.”
Wix was one of Monday.com's first three paying customers
“When we had, like, the initial version of the collaboration tool, we had about three or four paying customers. One of them was Wix.”
Zinman's first startup failed after 15 months of building without capital
“Like I built a product and I worked at it for about 14 or 15 months before launching it. And after 14 or 15 months, I didn't raise any money. I just felt I wasn't ready. It was a big failure. Like I ran out of money, personal money and ran out of energy.”