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 699 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 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
AI Startups With Product-Market Fit Are Scaling Much Faster Than SaaS
“When these startups find product market fit, they're just scaling way faster than traditional SaaS counterparts.”
Abridge Recently Raised a Series E at a $5.3 Billion Valuation
“Abridge, we co-led their Series C. They recently raised a Series E at 5.3 billion dollars.”
Lemkin: Wiz scaled from $1M to $100M ARR in under 20 months
“I mean, but in general, I think it did like one to a hundred in 18 months or 20 months or something like that.”
Canva grew from 170M to 230M MAUs under Rob Giglio.
“At the time. Canva was like, Maybe a hundred and seventy million monthly active users. We're at two hundred and thirty million monthly active users now.”
Ramaswamy: Snowflake processes approximately 5 billion queries per day
“Out of like five billion-ish queries a day.”
Perplexity Serves 5,000 Enterprise Clients With Just Five Sales Reps
“We have around over 5000 enterprise clients for Prophexity Enterprise Pro, and we have five sellers.”
Lemkin: Owner.com Reaches $40M ARR and $1B Valuation
“And we're also having the CR of owner. They just announced yesterday, they raised it a billion dollars. They're at over forty million growing, 10% a month.”
Lemkin: Gong Is Re-Accelerating Revenue Growth Toward $300M ARR
“If you look at what happened with Gong struggled for a while, then they're re-accelerating to three hundred million, ok?”
Benioff: Data Cloud is Salesforce's fastest-growing product ever
“Don't underestimate data cloud. It's been our fastest growing product ever.”
Frankel: Founder Collective owned roughly 12% of The Trade Desk at IPO
“We owned roughly 12% at IPO.”
Frankel: Amazon Pharmacy is literally built on PillPack's software code
“And it's, it is Amazon pharmacy today. It's literally based on that pill pack code.”
Lemkin: Slack and Zoom Avoided Price Hikes for Years Early On
“Slack and zoom never raised prices for years. Slack was disruptive in the early days because it implemented what it called the fair billing policy. And if you didn't use seats, they didn't charge you for them.”
Lemkin: Average SaaS Vendor Counts Are Down While Spend Is Up
“Zylo, which It's one of the vendors that helps you manage SAS costs and vendors reported that the average number of SAS vendors is down. It's down. And that's, I think there's a number of reasons, but it's not because spend is down. According to Gartner, spend…”
Zinman: monday.com Gross Retention Is at an All-Time High
“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.”
Zinman: monday CRM is growing faster than core monday.com originally grew
“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.”
Choi: Average ARR for SaaS IPOs has jumped to $300M–$500M
“Here we have the average ARR scale of companies at IPO quarter, and you'll see the tremendous increase from 2009, 2010, where companies were going public between 50 to a hundred million of ARR, And in today's markets, more recently, companies are in well over …”
Lemkin: Shopify's 31% growth at $11B run rate is fastest in 3 years
“Shopify yesterday announced they crossed eleven billion dollar run rate, eleven billion dollars from Shopify. And It's accelerating. It's growing to 31% at 11.2 billion. That's even better than it sounds because that means it's added over three billion of new …”
Lemkin: Zoom Trades at 3.8x Despite Generating $2B Free Cash Flow
“Zooms at four over four billion in revenue. Half of it is free cash flow. Zoom is generating two billion of cash out of its four billion. No one cares. It's worth three and 3.8 X revenue.”
Lemkin: 90% of SaaS companies that IPO have a founder CEO
“I did this analysis a little while ago that of the SaaS companies that IPO, 90% of a founder CEO.”
Tunguz: Lead VC check sizes are up 42% in 18 months
“Right, but check sizes are up, the lead check sizes are up, 42% in 18 months.”
Dani Grant: Ramp Reached $300M ARR in About Three Years
“They reached three hundred million of ARR in about three years.”
Cloudflare SVP: 170 Data Centers Retrofitted With GPUs in One Year
“So yeah, in the past year we've retrofitted our 300 cities, 500, over 500 data centers with GPUs. Over a 170 of them have them today and pushing out more bigger, faster inference every day.”
GitHub Copilot Reaches 77,000 Organizations and Two Million Users
“Step ahead to today, we have 77,000 organizations using GitHub Copilot and almost two million users.”
AI Products Drove 40% of GitHub's Fiscal 2024 Revenue Growth
“In the last fiscal year, our fiscal year ends in June, our AI products were 40% of our revenue growth during the period.”
Accenture Ran a 450-Developer Trial Against Controls Before Buying Copilot
“They set up a trial with 450 developers using Copilot actively for a period of time and tested that against a control group of another 200 developers. And at the end, not only, yay, did they buy Copilot and roll it out to thousands of people, but they produced…”
Samsara's biggest product is now AI driver safety coaching
“Our biggest product now is a driver safety coaching product that uses cameras and AI to basically help break risk, prevent risky things from happening on the road. That was not in the cards when we started the company.”
Samsara's core telematics product generates over $500M ARR at 30% growth
“And if I step back and I look at the telematics product, which was number one, it's over five hundred million in ARR. It's growing north of 30%.”
87% of Samsara bookings now come from non-transportation verticals
“About, I think in the last earnings call, we talked about. 13% of our bookings were in transportation. 87%. The compliment was everything else.”
Blond: Automation Tools Increased Rather Than Decreased SDR Headcount by 2020
“The size of the SDR teams in 20, 20, many years after these products were introduced was significantly greater than the sort of like size or investment made in SDR in 2012 when they first came to market, something like that.”
Tunguz: Average SaaS company raised sales quotas 14% year-over-year
“So the average respondents company increased quota, 14% year over year, which is higher than inflation.”
Tunguz: Top-quartile SaaS net dollar retention dropped from 130% to 120%
“Top quartile used to be around a 130%. Now it's about a 120%.”
BILL connects 7.1 million network members for immediate vendor onboarding
“The network is a part of that because 7.1 million means that when you sign up today, there's a chance that your vendor is going to be there and that you don't have to worry about figuring out how to pay them.”
Supplier payment choices account for 30% of BILL's core revenue
“30% of our core bill revenue comes from suppliers that are making a choice about a payment.”
Klaviyo holds roughly 60% market share in the Shopify ecosystem
“They have probably 60% market share in the Shopify ecosystem.”
Schuck: ZoomInfo was bootstrapped to $25M in revenue
“Cause you oftentimes I bootstrapped the company to twenty-five million in revenue.”
Lemkin: Half of EchoSign's 20 sales reps became tech CROs
“We only had 20 something sellers and 10 of them went on to be top CROs, right? CROs at Brex, CRO at Ripley now, Gong, also CRO at Gong. Seismic, a long list of others, half of them went on to be leading”
Lemkin: Salesforce growth has dropped to single digits for first time
“Salesforce is, is profoundly struggling for the first it's fallen to single digit growth for the first time.”
Lemkin: Salesforce's Support Cloud Is Bigger Than Core CRM
“You might not realize that Salesforce
The support post sales is actually bigger than CRM.
It's actually a bigger cloud than CRM.”
Lemkin: Zoom is nearly halting follow-on equity grants under Wall Street pressure
“Zoom says they're almost stopping issuing follow on grants because Wall Street won't let them do it.”
Lemkin: Canva has reached $2.5 billion in ARR
“Canva you might think is single product at two and a half billion in AR, but it sure does a lot more than when I started using it.”
Dholakia: Accenture made $3 for every $1 of SAP software sold
“Accenture made three dollars for every dollar that SAP sold in software because there was so much to do around change management.”
Cabane: LinkedIn removed intent data ahead of a major AI product launch
“You've got to wonder what they're doing, especially because they've removed their intent data product three weeks ago, right? So you've got to wonder, is it because they don't care, or is it because they're going to announce something big? I think the latter.”
Lemkin: Less Than 10% Of Top Seed Startups Maintain T2D2 Growth
“It's less than 10% of venture backed startups that hit this. Not 10% of all startups. Only 10% of folks that rate seed rounds from the top VCs even maintain this pace, right?”
Lemkin: Canva is growing over 40% at $2.3B in revenue
“Canva just said they're growing over 40% at 2.3 billion in revenue at their user conference the other day.”
Lemkin: Median public SaaS company trades at 6x ARR on BVP Cloud Index
“This is the BVP cloud index. You can track it on Bessemer sites or other places. The median public SaaS company is trading at six X error, the median.”
Bendov: Sales Reps Spend Roughly 75% of Time on Non-Selling Tasks
“Reps spend about 75% of their time on non-selling time. If you measure the hours that their customer facing, it's 25%, sometimes even less.”