GitLab

“You know, I'll go super underground and talk about a company I just joined the board of. Which is GitLab.”

“I think ARR is, is a vanity graph. If you're a subscription business, you should look at incremental ACV and that's the number we use throughout the company.”

“Now, on a net expansion basis, it's over one 75%. So if they spend a hundred dollars with us last year, they're going to spend a 175 dollars with us this year, the same cohort.”

“We have way more than 90% of the people staying with us.”

“We have 270 people working from 270 locations.”

“If I look like, where does the majority of our revenue come from? It's over a thousand people.”

“We try to keep our payback period on a cash basis to like zero days. As soon as the deal is signed, it should be paid back, and on a revenue recognition basis the first year.”

“In the last five years, we've doubled our incremental ACV every single year, and we're on track to do that.”

“I think it's forty-something.”

“So the most popular one is the middle one of 19 dollars per user per month.”

“So sales speech in sales, we don't talk about deal size. Like even it's a multi-year deal, even if it's all cash upfront, we look at that. Incremental ACV number for any deal. If it's just a renewal, you didn't actually gain anything. So we try to do that thro…”

“So there's over a 100,000 organizations with millions of users using GitLab. Most are on the open source edition, but we've got over 5000 organizations, mostly the larger ones, paying us for one of our proprietary versions.”

“I'm sitting at our office in San Francisco. It lasts on 5000 dollars a month, and that's the only, like, office space we lease.”

“Yes, we have a 150 engineers and we're by far the largest contributor to the project.”

“It used to be like that, that most of the people were coming in already using the open source, but we're seeing more and more people that have not used GitLab before that really want to modernize their DevOps workflow. They want to modernize how they do engine…”

“I don't think that open source communities are against dollar signs, but what they do want to see is you being a good steward of the project and acting in the interest of the project. And that's a balance. That's a balance between things that generate revenue,…”

“All the deals we do are one year paid, at least one year paid up front.”

“And sure enough, a month after I do the interview, you know, GitLab raised a hundred million dollars.”

“Net expansion has been absolutely amazing and it's way north of a 150% and a 150% would already be kind of best in class if you look at public companies.”

“This fiscal, we're spending fifty million dollars in development costs, like engineers shipping more functionality in the product.”

“Our plan is to become a public company next year.”

“The price was the same as the Preferred price of the round.”

“Always make sure that you can get back to cash flow break, even with the cash you have in the bank. Never depend on a future fundraise.”

“We expect the number to come down. So I'm not going to give the number today because we're doing a better and better job at landing a bigger initial deal.”

“There's about eight to nine months ramp up time where they where they go from zero to a hundred percent of quota per month.”

“We now raised 400, more than four hundred twenty million.”

“We raised two hundred sixty eight million dollars in our last round at a post valuation of two dot seven five billion.”

“Two-thirds of the net expansion is driven by higher seed count, and we're really proud of that.”

“For an enterprise salesperson making making like a quarter of a million or more it's north of a million dollars incremental ACV.”

“No, gross retention or gross retention is still about 90%. So that's kept steady.”

“So certainly not this year. Maybe next year.”

“We raised a round that will be comparable to the amount we would raise if we would go public next year. That was the goal.”

“The enterprise market is 72% of our ARR, and those are the bigger deals.”

“It's been amazing to see, for example, Goldman Sachs as a customer, and we came in and they said, look, if you're doing really well in nine months, we're going to be a thousand users. And then two weeks later, we're 1500 users. Now they're over 5000 users.”

“So today, GitLab is used in over a 100,000 organizations. So we got millions of users. There's 10,000 paying customers.”

“I think last time we talked, we were closer to 200%. And I think we're at 1:40 today.”

“We want our goals to have 80% of our salespeople on a hundred percent or more of quota.”

“And we said you could sell up to 20% of your vested shares, both current team members and ex-team members up to 20%.”

“Engineering function is 393 people and 143 vacancies.”

“Right, right now I'm looking for HR blogs, and like, GitLab is doing probably the best job on the human resources.”

“Multi-billion dollar company. Public now. Incredibly successful. They don't do meetings at all. I have a couple thousand people. They don't do meetings.”