Cornerstone

0 statements across 0 episodes · 6 bullish · 0 bearish · 1 people on the record · first statement Jun 14, 2024 by Adam Miller · across every show →

Everything said about Cornerstone, oldest first

Jun 14, 2024
Assertion Supported
Cornerstone closed enterprise deals with Smith Barney and Aon post-9/11
“We had four deals that we were working on at the time that were all close to signature. We ended up closing three of those deals. And how had we fired those people? There's no way we could have service those companies. These were enormous companies, Smith Barn…”
Adam Miller Jun 14, 2024 ▶ 32:47 From the brink of closure to a $5.2 billion sale (with Cornerstone's Adam Miller) | Masters of Scale
Jun 14, 2024 bullish
Assertion Partly supported
Cornerstone grew 60% every year from 2005 to 2014
“From 2005 until 2014, every single year we're growing 60%.”
Adam Miller Jun 14, 2024 ▶ 38:47 From the brink of closure to a $5.2 billion sale (with Cornerstone's Adam Miller) | Masters of Scale
Jun 14, 2024 positive
Assertion Partly supported
Cornerstone was Bessemer partner Byron Deeter's first cloud deal and unicorn
“When we finally raised venture capital, Bessemer led the round, Byron Dieter led the round. It was his first true cloud deal. We ultimately became his first unicorn, first of many, many unicorns that he's had.”
Adam Miller Jun 14, 2024 ▶ 39:09 From the brink of closure to a $5.2 billion sale (with Cornerstone's Adam Miller) | Masters of Scale
Jun 14, 2024
Assertion Not checkable as stated
Cornerstone was the first SaaS vendor for every early enterprise client
“Every single deal we did, we were the first software service company at that enterprise in the early days of SAS.”
Adam Miller Jun 14, 2024 ▶ 35:48 From the brink of closure to a $5.2 billion sale (with Cornerstone's Adam Miller) | Masters of Scale
Jun 14, 2024 positive
Disclosure
Cornerstone delayed its IPO to list with Goldman Sachs in 2011
“We could have cheated and went public sooner with a smaller bank, but I didn't want to do that. I wanted to go public with a top tier bank and we got Goldman Sachs to lead the round to lead the IPO. And we ended up going public in March of. 2021 of 20 11.”
Adam Miller Jun 14, 2024 ▶ 57:23 From the brink of closure to a $5.2 billion sale (with Cornerstone's Adam Miller) | Masters of Scale
Jun 14, 2024 positive
Disclosure
LA tech talent scarcity forced early Cornerstone to hire for potential
“Being one of the earliest tech companies in LA, we were hiring predominantly for potential, not for experience because nobody had experience doing B to B software. So we had to hire for potential and that I think served us very well.”
Adam Miller Jun 14, 2024 ▶ 49:36 From the brink of closure to a $5.2 billion sale (with Cornerstone's Adam Miller) | Masters of Scale
Jun 14, 2024 bullish
Assertion Contradicted
Cornerstone achieved 100% retention and zero churn in 2007
“And 2007, the company was still growing very well. We're getting into more and more deals, bigger and bigger deals. The deal sizes themselves were getting bigger. So we're talking about, you know, first six figure deals and we're starting to do seven figure de…”
Adam Miller Jun 14, 2024 ▶ 48:46 From the brink of closure to a $5.2 billion sale (with Cornerstone's Adam Miller) | Masters of Scale
Jun 14, 2024 bullish
Assertion Partly supported
Cornerstone raised in 2008, grew 60%, and never spent the money
“We ended up raising around Meritech led that round. We ended up growing 60% that year. And we never used a dollar of the money.”
Adam Miller Jun 14, 2024 ▶ 54:19 From the brink of closure to a $5.2 billion sale (with Cornerstone's Adam Miller) | Masters of Scale
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