monday.com

“Monday.com, the Work OS, aren't they kind of a PLG company, product-led growth? Doesn't the product kind of sell itself? Well, they spend five times as much on sales and marketing as they do in R&D.”

“But then the world changed, and Monday became radically different from -16% margins to 24% in one year.”

“In the last, You know, 12 months since the economy changed is that we actually found that our SMB budget was more stable than our enterprise segment. So the SMBs NRR, yeah, was actually more stable.”

“We're not doing it almost at all right now. It's like a huge place for us to grow into”

“We didn't really have a good NRR in the beginning. Cause it was like very small customers and we kept improving the product all the time, but we looked to Iran's point. We looked at the metric and we saw where the problems were and we added the sales team. We …”

“When you reach that point NDR basically represents your growth rate. If you got a 130% NDR and 95% of your revenue is coming from existing customers, your revenue is going to be about 30%. Just the law of nature. Your new customer is going to add to that, but …”

“We switched from 30 to 14. And I'll tell you why. So we'll have a shorter input cycle towards media buying.”

“And the way we've measured it as a company since day one, we didn't care about you know, like gap return on, on CAC. We cared about actual cash in the bank. So How much we spend, when do we actually spend the money, and how fast we get it from customers in ter…”

“Eventually as you mature as a SaaS company, the majority of your revenue, majority of subscription is actually coming from existing customers. Even to the point where it's 95%, 98% of the revenue. Is from existing customers.”

“I can share our metric, like our top line metric, and the one we kind of like, I think after like a few years we kind of went to that from new paying customers to WEP, weekly active paying people. so we cared, like we said, we don't want to learn about a cus…”

“Monday went from cash flow negative To very cashflow positive in five quarters. It's crazy. Again, they went from something like -15% free cashflow to positive 25% in five quarters”

“We had more cash in the bank than we ever raised from VCs and the public market.”

“So there was like five million dollars of ARR, 1,000,010 million, and I remember I think we had seven back then. Seven. Yeah, it was six years ago, we had seven million,”

“I think every time we made a leap in terms of product features, it wasn't because of feedback we got from customers. I always like to talk with customers, but actually the major leaps was things they didn't expect. So for example automations was a huge driver …”

“We have the 50 K segment. So that was almost nothing like three or four years ago. Now it's almost 30%.”

“You don't need to tell the whole story from the beginning especially when you sell to SMBs. I think that we focused on giving them value as soon as possible. So if you were searching for a project management or CRM, we wanted to serve them a CRM or a project m…”

“One thing we think about is maybe we should have, like, a mixed model, you know, both seats and consumption to an extent, so that's another thing that we're thinking about”

“Our first round, just so you all know, ah, we raised 1.4 million, ah, in two million pre.”

“Thinking in retrospect, let's say we had, like, an amazing salesperson in the company. Even though we had, in the beginning, like, a shitty product, that person might be able to sell. And then you get a wrong signal. You get a wrong signal. And because we didn…”

“When we had five million in a bank, we spent twenty-five million In performance marketing. Now, how do you do that? Because we recycle the money super quickly. We would spend, let's say, 300 K on performance marketing, and then after one month, we saw 50% back…”

“We have gross retention around mid-eighties, something like that on all customers, but obviously it's much greater on enterprise.”

“Nobody went on Google and searched for a flexible software to manage my business, right? Like, nobody does that. People search for project management, they search for CRM, so we had to change from, like, there's the company vision on one hand, but there's the …”

“Because right now, ah, we, not only we kept doing it, but we actually scaled it, ah, and right now we have, like, the lowest bids, ah, that we ever saw, as a company, because everybody pulled back, A lot of companies reduce spend, and we're more aggressive tha…”

“The only thing that happened here, during those four quarters, was that we slowed down hiring. That's the only thing.”

“90%, 85, 90% of the revenue is from existing customers. That customer that... That's customers that have been with the company for more than a year.”

“With Superbowl, it was more tricky, because it's like one day, one event, one commercial. Ah, the uplift wasn't worth it. Ah, I'll tell you what did happen. Ah, something that, in almost every sales call, ah, one of the customers mentioned that they saw us dur…”

“One thing that helped us reduce the marketing span was, let's say you focus just on one vertical. Let's say project management. At some point you exhaust the inventory. And then the incremental dollar you put is not as efficient as the first one. So, the fact …”

“From day one, 70% of our customers were non-tech, and non-tech, I mean, you can see here, like real estate, banking, construction, even churches were using us back in the days and now.”

“They built a horizontal platform at Monday, but once they started doing Facebook marketing, they found that insurance, churches construction were the ones that performed, so they leaned the hell in, right?”

“Monday.com in, in 18 months went from Minus five percent operating margins to plus 20, right? Salesforce is hitting plus 30.”

“Over 70% of Monday's customers are not tech. They're selling to churches and normal businesses. They're growing 34% in a billion in AR, while Asana, which mostly sells to tech, if you see on the right, is only growing 10%.”

“Monday again is growing almost 40% at a billion in ARR, but look how their efficiency changed. In 2020 when no one cared, -25% free cash flow. Then they started to care, then in 2021 they broke even into 2022 23. Now they're at 28% free cash flow and going up.”

“We have great momentum with CRM, and we're super proud of the growth, and it's actually grown faster than what Monday did back in the day, which is pretty impressive.”

“We launched AI blocks and we actually saw more than seventeen million AI actions in the product in the last few months.”

“Once, once you reach a billion, if you want to grow 30%, The majority of revenue is going to come from your existing base, no matter how efficient your marketing is. And we have a very efficient marketing engine, but yes, like just how math works, most of the …”

“We have our highest gross attention Ever, I would say, currently. The gross attention of the company, given the economy, given everything that's happening in the world just to give people context, like, we see gross attention going up, actually.”

“Eventually we made the decision to charge per consumption and not tie it to the seat model. Because I think that if this is going to be widely successful, Maybe some of our customers would not hire as many people as they plan to.”

“And because of that, you don't necessarily have to have the best CRM in the world. It might be second place, but because of that integration and because of that data flows between the different products, you get such huge benefit from that, that it's a huge ad…”

“If you want to scale a company past a billion and even to a billion, you have to go multi-product. There's no other way you can do it.”

“We, for example, we get about almost a 100,000 CVs a month.”