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 13 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
Smith: SAP will pause M&A after $8B Qualtrics deal
“SAP's not buying anything for a while. We took all their powder.”
Smith: Qualtrics reached $50M in sales with zero PR or media
“For the first 10 years we didn't do one media interview and we got to fifty million in sales. Think about that. Right? Not, not one media interview, not one press release.”
Ryan Smith: Two competitors sunsetted their tech and migrated to Qualtrics
“We've had two of our competitors sunset all of their technology and move everything over to Qualtrics”
Ryan Smith: Only $30M of $8B acquisition went to former employees
“There's eight billion dollars, and only Thirty million dollars of it went to people who weren't in the building at the time of the transaction.”
Smith: Qualtrics rejected a $500M buyout offer at a $50M run rate
“The backstory here is we turned down an acquisition offer for five hundred million dollars in 2012. And I had done, I mean, we were about a fifty million dollar sales run rate, but I'd never done a media interview.”
Ryan Smith: Qualtrics' valuation grew $100M each year they delayed funding
“From 2009, 10 and 11, Every year we waited, our valuation went up a hundred million dollars back then.”
Smith: Qualtrics grew 47% to $500M in sales prior to SAP deal
“I mean, we grew up 47% last year, five hundred million in sales.”
Ryan Smith: Qualtrics staff will earn more post-acquisition than prior 17 years
“Outside of about six or seven people, every single person in the company will make more money over the next five years than they did the prior 17.”
Smith: Qualtrics maintained 122% net retention overall and 140% in enterprise
“And a 122% net retention, and then the enterprise, it's a 140. That, that means that you've got a solid foundation, a solid engine, where people are living and it's mission critical to them.”
Smith: Rising market caps will push mega-SaaS acquisition sizes to $15B
“Well 15, it's got to be the new, it's got to be the new number. I mean as market caps keep increasing, then I think the number goes up.”