The Ledger
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Arun Matthew: The Rule of 40 Applies Only to Public-Scale Businesses
“The rule of 40 is a measurement for public company scale businesses. And if you're at orders of magnitude below that at 10 to 15 in ARR, it's a different rule. You know, you'll never get to scale and have that sort of profitability margin at scale unless you'r…”
Arun Matthew: Accel Made One 2022 Growth Investment Versus 20 in 2021
“We've made one growth investment this year. And so one this year, wow, one this year, and that's down from about 20 from last year.”
Matthew: Under 30% of Accel Portfolio Expected to Hit 2022 Plans
“So I would say less than half of our companies are hitting original 20, 20, 22 plans. And I think by the end of the year, you know, it'll probably be closer to 25 to 30% that we're seeing across a very large sample size.”
Matthew: Accel SMB-Focused SaaS Companies Struggle with Retention Versus Enterprise
“In terms of gross retention, we're seeing varying degrees of success of gross retention across different customer segments, meaning SMB in this environment is more challenged than enterprise.
And our companies that are exposed to SMB in particular are having a…”
Matthew: CrowdStrike trades at 12x current ARR and 9.5x forward
“You look at what CrowdStrike is valued at, it's valued on current ARR at 12 times. And you look at a forward number that's nine and a half times.”
Matthew: 1Password bootstrapped 15 years before raising a $600M round
“Iconic and Excel invested in one password, which had been bootstrapped for 15 years before they ended up. Before they ended up raising capital, you know, they raised a six hundred million dollar round over the last couple of years.”