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.
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Rabois: Ramp will beat Brex and become 10x more valuable
“Ramp is absolutely going to be the winner. Probably will be two, three, four, five, 10 times more valuable.”
O'Driscoll: Ramp is generating $700M to $800M in revenue
“Like, I've heard they're doing roughly seven, eight hundred million dollars.”
No SaaS firm Cabane advised reached $50M ARR on a single channel
“And I have never seen a companies I've worked with, neither at Segment or at Drift, Gorgias, or Ram, and not in one of the companies I engage with, where we were able to get to fifty million on one channel. Not one.”
O'Driscoll: Ramp's 40x revenue multiple sharply contrasts Brex's 6x valuation
“Fortyx runway revenues when the comp traded at six in terms of breaks, even albeit on a lower growth rate is a pretty healthy valuation.”
O'Driscoll: Ramp data shows Anthropic grabbed 73% of new AI spend
“Just to start with the facts, they actually said 73% of new spending. Right. And what it is, and the same graph shows OpenAI is still actually ahead of Anthropic in terms of total spend. But the marginal buyer in the last six weeks, eight, 10 weeks has massive…”
O'Driscoll: Ramp hit $1B run rate faster than Brex at $700M
“From an operational perspective, this is further validation that quote unquote, I've won. I started later and I'm doing a billion. They started earlier, they're doing seven hundred million.”
Stebbings: Ramp reaches $1B revenue as Brex hits $700M near breakeven
“Ramp is at a billion in revenue. Brax is at 700. They're both around the breakeven to moving profitable phase.”
Rabois: Ramp launched card issuing in 50 days versus typical 6-12 months
“So there's a lot of complexity in setting up issuing cards, just the very basic fundamentals usually take an infinite amount of time. Usually six to 12 months is pretty good as someone who's been involved in companies like this for like 20 years. I think Eric …”
Glyman: Ramp aims to build Waze for business expenses and Shopify for CFOs
“I think that a lot of really the North star of where we're headed as a business is, can you actually go understand what things cost and build, let's say like a ways for all sorts of business expenses, a Shopify suite for the CFO.”
Glyman: CFO software and spend management will yield multiple $100B+ companies
“And look, I think that there are many hundred billion dollar plus companies in this space. I know Amex It's had since 1850 to work on it, and there are a number of others, but I think that if you can truly do that, and if you can create differentiated value in…”
Stebbings: Ramp Raised $750M at $44B Valuation, Surpassing $1B ARR
“Ramp raises seven 50 at 44. We've discussed Ramp a lot. Tripled in a year. Cross a billion in ARR. Positive free cash flow.”
Randle: Delian Asparouhov Sourced the Seed Investment for Ramp
“Dude, you sourced the seed of ramp.”
Lemkin: Ramp raised $200 million at a $16 billion valuation
“Here's the thing, it's two hundred million at sixteen billion.”
Shulman: Suno topped generative AI corporate card spending on Ramp
“We were at the top of what people put, the gen AI products that people put on their ramp credit cards, which means that like lots of, and so we were surprised people are using this for Cold outreach for sales, for marketing, for all kinds of stuff.”
Glyman: Ramp's recent post-money valuation was $7.6 billion
“It was a seven point six. 7.6 billion dollar post.”
Glyman: Most of Ramp's executive leadership has remained unchanged for years
“Most of the team you'll see today running ramp is the same team as it was two years ago, three, a lot of the same people and the depth of that and people's knowing each other's patterns, the strength, the weaknesses are good.”
Glyman: Ramp currently handles about 1% of US corporate card spend
“We're call it one percent of how you know businesses spend money on cards in America, but there's 99% to go.”
Glyman: Non-card services now drive the majority of Ramp's payment volume
“The majority of how we're moving funds is, is you know, it's gone beyond card.”
Glyman: Ramp revenue is well into nine figures with under 1% share
“Even five years later at, You know, well into the nine figures in revenue we are less than one percent of the market in which we are largest”
Ramp achieved 400% annual revenue growth over the past year
“We just announced for the last year, we hit 400% revenue growth.”
Glyman: Ramp spent its first 120 days building core infrastructure
“We didn't ship anything to customers, I think, in the first 120 days in the life of the company, and we were building the core ledger, and we were building the core financial infrastructure, and a lot of the core accounting integrations, all that”
Glyman: Ramp launched with Visa in 55 days using Marqeta
“Within 45 days, we were able to be live with our partner bank, within 55 with Visa, within 65 internally, we were able to go and start Doing internal transactions.”
Harry Stebbings: Ramp's valuation reached $32 billion from $13 billion in one year
“Ramp was thirteen billion at the start of this year. Now it's 32 with the latest round announced yesterday.”