Prediction Not checkable as stated
D'Onofrio: 23% of Cloud 100 will achieve profitability by late 2023
“23% of cloud 100 companies will be profitable by the end of this year, 2023, and two thirds are planning to be profitable by the end of 2024.”
Assertion Supported
D'Onofrio: Cloud 100 average multiples grew from 9x to 34x
“The average cloud 100 company, so the top cloud companies in the world at any one moment, had a nine X ARR multiple in 2016, increasing 270% until 2021, where it earned a 34 X multiple.”
Assertion Partly supported
D'Onofrio: Cloud 100 aggregate valuation dropped 11% year-over-year to $659 billion
“This year for the first year,
The aggregate value of the Cloud 100 actually decreased year over year by 11%, still to a phenomenal 650, fifty nine billion dollars.”
Assertion Supported
D'Onofrio: Average Cloud 100 company growth plummeted to 55% in 2023
“The average growth rate in a cloud-one-hundred business in twenty-twenty-two was a hundred percent, and this year went down to 55%.”
Assertion Supported
D'Onofrio: Average Cloud 100 valuation multiple compressed to 26x in 2023
“In 2021, the average cloud 100 multiple was 34 times, decreasing to 30 times in 2022, and 26 times in 2023.”
Assertion Not checkable as stated
D'Onofrio: Portfolio companies with 1x Cash Conversion Score yielded 120% IRR
“Across the Bessemer portfolio, companies that had a cash conversion score of one X at the time of financing actually yielded an internal rate of return of a 120%.”
Assertion Supported
D'Onofrio: Average Cloud 100 multiple surged from 9x to 23x ARR
“With the average cloud, 100 multiple increasing by over a 150% in the last five years from nine X ARR in 2016 to 23 X in 2020.”
Assertion Supported
D'Onofrio: Private cloud growth endurance averages 70% versus 80% public
“So whereas the public cloud landscape had growth endurance of 80%, looking across the past five years of cloud 100 data, our same data set, we find that growth endurance is lower at 70%.”
Opinion
D'Onofrio: The IPO window seems to be reopening amidst AI platform shift
“SBB collapsed, market multiples are down, and yet we have a platform shift to AI that is exciting everybody, and the IPO window seems to be reopening.”
Assertion Supported
D'Onofrio: 55% of Cloud 100 launched Generative AI features within months
“In the past eight months alone, 55% of cloud 100 companies have launched a generative AI product or feature.”
Assertion Supported
D'Onofrio: Cloud 100 average growth rates rose from 60% to 90%
“Again, out of the best cloud companies in the world, it was, they were growing an average of 60% in 2017, increasing to 90% in 2021.”
Assertion Supported
D'Onofrio: Data infrastructure and fintech held highest 2021 Cloud 100 value
“What we've seen in the last 12 months is that these two segments have grown dramatically thanks to COVID tailwinds and the broader trends towards cloud adoption, and these two segments actually represented the highest total valuation of subsectors on this year…”
Assertion Supported
D'Onofrio: Over 527 private unicorns reached $1.9T valuation by January 2021
“As of January, 20, 21, there were over 527 private unicorns with a total cumulative value of over 1.9 trillion dollars.”
Assertion Supported
D'Onofrio: Forbes Cloud 100 private cloud companies are worth $267B
“And these companies are worth an impressive two hundred and sixty seven billion dollars and include some companies that Bessemer is really proud to work with, such as Procore, Toast, HashiCorp, and Canva.”
Assertion Supported
D'Onofrio: Emerging cloud index average multiple rose from 5x to over 20x
“The BVP NASDAQ emerging cloud index and it had its average multiple increased by, from about five times forward run rate revenue in 2010 to over 20 times in 2020.”
Assertion Supported
D'Onofrio: Top-quartile private cloud growth reached and held over 100%
“The top quartile companies have increased their growth rates from 65% in 2017 to over a hundred percent in 2019, and were able to maintain that growth rate in 2020, despite a lot of the headwinds that COVID presented.”
Assertion Supported
D'Onofrio: Private cloud capital grew 10x to over $180 billion
“Over the past decade, there's been a 10 X increase in the number of dollars going into private cloud companies to over a hundred and eighty billion in 2020.”
Assertion Supported
D'Onofrio: Shopify grew 80% in 2020 to almost $3 billion
“In 2020, it actually grew an incredible 80% In the new normal to almost three billion of revenue.”
Assertion Supported
D'Onofrio: Twilio averaged over 60% annual revenue growth since IPO
“And instead, Twilio has grown an average of over 60% since IPO with more growth runway to come.”
Assertion Supported
D'Onofrio: Tech unicorn birthrate has accelerated beyond expectations
“The unicorn birthrate has accelerated beyond our wildest dreams.”
