StarZero All shows Try the podcast clipper →

Oct 25, 2021 · 18m · top-founders

G2 on Track to Break $100m ARR 2022, $60m+ Today at $1.1b Valuation

Godard Abel · 11m spoken Nathan Latka · 4m spoken
0:00 / 0:00

gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions

In this interview with Nathan Latka, G2 co-founder and CEO Godard Abel discusses reaching a $1.1 billion unicorn valuation, scaling beyond $5 million in monthly revenue, and executing a multi-product strategy spanning review marketplaces, buyer intent data, and SaaS spend management on the path to $100 million ARR.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Nathan holds 27.4% of the talking time here. How this is scored →

Nathan as informed peer 5.7 Guest teaching 4.3 Guest disagreement 1.8 Nathan pushing back 3.7
05100:0010:001:22–3:47 · Nathan as informed peer 6/10 Evolving from Software Reviews to Marketplace Deals Latka cites recent market activity including Vendr's $600M valuation and asks if G2 would acquire procurement tools. Abel clarifies that G2 already acquired Siftree to launch G2 Track and partners with Vendr rather than competing directly.3:48–6:22 · Nathan as informed peer 5/10 Customer Segmentation: Marketing Solutions versus G2 Track Latka asks for customer counts across products. Abel details customer breakdown across 2,500 vendors and 1,000 Track users, explaining the distinct buyer personas between CMOs and CIOs/CFOs.6:23–10:59 · Nathan as informed peer 6/10 G2 Track Product Mechanics and Value Loop Latka asks about ARPU and the specific utility metrics driving expansion revenue. Abel walks through G2's three monetization tiers: multi-product branding listings, buyer intent data, and licensed review content.11:00–13:45 · Nathan as informed peer 7/10 Financial Milestones, Pandemic Recovery, and ARR Targets Latka models monthly revenue from ARPU and customer counts ($5M+ MRR) and references G2's past $2M/month burn from their 2019 conversation. Abel confirms pacing, explains hitting accidental cash flow positivity during the pandemic, and targets breaking $100M ARR next year.13:45–15:56 · Nathan as informed peer 6/10 Series D Unicorn Valuation and Employee Liquidity Latka recalls G2's previous $450M valuation from 2018 and presses for Net Dollar Retention metrics. Abel declines to disclose the exact NDR figure but concedes under Latka's pressure that it is above 100% and below 150%.15:56–17:38 · Nathan as informed peer 4/10 Famous Five Rapid-Fire Questions with Godard Abel During the rapid-fire section, Latka playfully interrogates Abel regarding acquisition talks with Salesforce, HubSpot, and ZoomInfo. Abel denies all three without hesitation.1:22–3:47 · Guest teaching 4/10 Evolving from Software Reviews to Marketplace Deals Latka cites recent market activity including Vendr's $600M valuation and asks if G2 would acquire procurement tools. Abel clarifies that G2 already acquired Siftree to launch G2 Track and partners with Vendr rather than competing directly.3:48–6:22 · Guest teaching 5/10 Customer Segmentation: Marketing Solutions versus G2 Track Latka asks for customer counts across products. Abel details customer breakdown across 2,500 vendors and 1,000 Track users, explaining the distinct buyer personas between CMOs and CIOs/CFOs.6:23–10:59 · Guest teaching 6/10 G2 Track Product Mechanics and Value Loop Latka asks about ARPU and the specific utility metrics driving expansion revenue. Abel walks through G2's three monetization tiers: multi-product branding listings, buyer intent data, and licensed review content.11:00–13:45 · Guest teaching 4/10 Financial Milestones, Pandemic Recovery, and ARR Targets Latka models monthly revenue from ARPU and customer counts ($5M+ MRR) and references G2's past $2M/month burn from their 2019 conversation. Abel confirms pacing, explains hitting accidental cash flow positivity during the pandemic, and targets breaking $100M ARR next year.13:45–15:56 · Guest teaching 5/10 Series D Unicorn Valuation and Employee Liquidity Latka recalls G2's previous $450M valuation from 2018 and presses for Net Dollar Retention metrics. Abel declines to disclose the exact NDR figure but concedes under Latka's pressure that it is above 100% and below 150%.15:56–17:38 · Guest teaching 2/10 Famous Five Rapid-Fire Questions with Godard Abel During the rapid-fire section, Latka playfully interrogates Abel regarding acquisition talks with Salesforce, HubSpot, and ZoomInfo. Abel denies all three without hesitation.1:22–3:47 · Guest disagreement 2/10 Evolving from Software Reviews to Marketplace Deals Latka cites recent market activity including Vendr's $600M valuation and asks if G2 would acquire procurement tools. Abel clarifies that G2 already acquired Siftree to launch G2 Track and partners with Vendr rather than competing directly.3:48–6:22 · Guest disagreement 1/10 Customer Segmentation: Marketing Solutions versus G2 Track Latka asks for customer counts across products. Abel details customer breakdown across 2,500 vendors and 1,000 Track users, explaining the distinct buyer personas between CMOs and CIOs/CFOs.6:23–10:59 · Guest disagreement 1/10 G2 Track Product Mechanics and Value Loop Latka asks about ARPU and the specific utility metrics driving expansion revenue. Abel walks through G2's three monetization tiers: multi-product branding listings, buyer intent data, and licensed review content.11:00–13:45 · Guest disagreement 2/10 Financial Milestones, Pandemic Recovery, and ARR Targets Latka models monthly revenue from ARPU and customer counts ($5M+ MRR) and references G2's past $2M/month burn from their 2019 conversation. Abel confirms pacing, explains hitting accidental cash flow positivity during the pandemic, and targets breaking $100M ARR next year.13:45–15:56 · Guest disagreement 3/10 Series D Unicorn Valuation and Employee Liquidity Latka recalls G2's previous $450M valuation from 2018 and presses for Net Dollar Retention metrics. Abel declines to disclose the exact NDR figure but concedes under Latka's pressure that it is above 100% and below 150%.15:56–17:38 · Guest disagreement 2/10 Famous Five Rapid-Fire Questions with Godard Abel During the rapid-fire section, Latka playfully interrogates Abel regarding acquisition talks with Salesforce, HubSpot, and ZoomInfo. Abel denies all three without hesitation.1:22–3:47 · Nathan pushing back 3/10 Evolving from Software Reviews to Marketplace Deals Latka cites recent market activity including Vendr's $600M valuation and asks if G2 would acquire procurement tools. Abel clarifies that G2 already acquired Siftree to launch G2 Track and partners with Vendr rather than competing directly.3:48–6:22 · Nathan pushing back 2/10 Customer Segmentation: Marketing Solutions versus G2 Track Latka asks for customer counts across products. Abel details customer breakdown across 2,500 vendors and 1,000 Track users, explaining the distinct buyer personas between CMOs and CIOs/CFOs.6:23–10:59 · Nathan pushing back 3/10 G2 Track Product Mechanics and Value Loop Latka asks about ARPU and the specific utility metrics driving expansion revenue. Abel walks through G2's three monetization tiers: multi-product branding listings, buyer intent data, and licensed review content.11:00–13:45 · Nathan pushing back 5/10 Financial Milestones, Pandemic Recovery, and ARR Targets Latka models monthly revenue from ARPU and customer counts ($5M+ MRR) and references G2's past $2M/month burn from their 2019 conversation. Abel confirms pacing, explains hitting accidental cash flow positivity during the pandemic, and targets breaking $100M ARR next year.13:45–15:56 · Nathan pushing back 5/10 Series D Unicorn Valuation and Employee Liquidity Latka recalls G2's previous $450M valuation from 2018 and presses for Net Dollar Retention metrics. Abel declines to disclose the exact NDR figure but concedes under Latka's pressure that it is above 100% and below 150%.15:56–17:38 · Nathan pushing back 4/10 Famous Five Rapid-Fire Questions with Godard Abel During the rapid-fire section, Latka playfully interrogates Abel regarding acquisition talks with Salesforce, HubSpot, and ZoomInfo. Abel denies all three without hesitation.

speaking balance: gold is Nathan, purple is the guest (3 minute bins)

0:00 · Nathan 53.2% · guest 46.8%0:00 · Nathan 53.2% · guest 46.8%3:00 · Nathan 7.6% · guest 92.4%3:00 · Nathan 7.6% · guest 92.4%6:00 · Nathan 14.9% · guest 85.1%6:00 · Nathan 14.9% · guest 85.1%9:00 · Nathan 15.1% · guest 84.9%9:00 · Nathan 15.1% · guest 84.9%12:00 · Nathan 21.7% · guest 78.3%12:00 · Nathan 21.7% · guest 78.3%15:00 · Nathan 58.7% · guest 41.3%15:00 · Nathan 58.7% · guest 41.3%18:00 · Nathan 0% · guest 100%18:00 · Nathan 0% · guest 100%
Sharpest disagreement ▶ 15:20 Abel stonewalls disclosure of net dollar retention

Abel directly rejects sharing G2's NDR metric despite Latka referencing benchmark public SaaS figures, giving only a basic confirmation that it is over 100%.

 Hardest push from Nathan ▶ 15:28 Latka refuses non-answer on NDR

When Abel deflects on disclosing retention metrics, Latka immediately pushes back demanding at least a range: 'Can you give a range Godard? Are you above a hundred percent?'

 Biggest teaching moment ▶ 8:25 Abel explains B2B buyer intent data mechanics

Abel educates Latka on how G2 leverages its 7M monthly software visitors to package and sell high-converting account-based buyer intent data to enterprise software vendors.

 Nathan holds their own ▶ 11:00 Latka synthesizes ARPU and customer metrics into MRR run rate

Latka calculates G2's revenue in real-time by multiplying 2,500 customers by a $2,000 ARPU to deduce that G2 is doing over $5M monthly, setting up the $100M ARR question.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Evolving from Software Reviews to Marketplace Deals 6423 Latka cites recent market activity including Vendr's $600M valuation and asks if G2 would acquire procurement tools. Abel clarifies that G2 already acquired Siftree to launch G2 Track and partners with Vendr rather than competing directly.
Customer Segmentation: Marketing Solutions versus G2 Track 5512 Latka asks for customer counts across products. Abel details customer breakdown across 2,500 vendors and 1,000 Track users, explaining the distinct buyer personas between CMOs and CIOs/CFOs.
G2 Track Product Mechanics and Value Loop 6613 Latka asks about ARPU and the specific utility metrics driving expansion revenue. Abel walks through G2's three monetization tiers: multi-product branding listings, buyer intent data, and licensed review content.
Financial Milestones, Pandemic Recovery, and ARR Targets 7425 Latka models monthly revenue from ARPU and customer counts ($5M+ MRR) and references G2's past $2M/month burn from their 2019 conversation. Abel confirms pacing, explains hitting accidental cash flow positivity during the pandemic, and targets breaking $100M ARR next year.
Series D Unicorn Valuation and Employee Liquidity 6535 Latka recalls G2's previous $450M valuation from 2018 and presses for Net Dollar Retention metrics. Abel declines to disclose the exact NDR figure but concedes under Latka's pressure that it is above 100% and below 150%.
Famous Five Rapid-Fire Questions with Godard Abel 4224 During the rapid-fire section, Latka playfully interrogates Abel regarding acquisition talks with Salesforce, HubSpot, and ZoomInfo. Abel denies all three without hesitation.

Statements from this episode (18)

Disclosure
G2 is evolving into a direct software purchasing marketplace
“I think now we're also saying G two is going to become a software marketplace and where people can not only discover apps, read reviews, get insights, but they can even buy software.”
Godard Abel Oct 25, 2021 ▶ 1:36
Disclosure
G2 is partnering with Vendr to avoid direct software deal negotiations
“And that's actually where we've been talking to Ryan and vendor about partnering because they're great at negotiating deals with vendors, which is frankly something we don't want to do, but, you know, we do give a company their whole SaaS stack.”
Godard Abel Oct 25, 2021 ▶ 3:08
Disclosure
G2 pauses new acquisitions after buying Siftree and Advocately
“And I think right now that we've chewed off so much, to be honest, we acquired Siftree, we acquired Advocately that I'm not looking to do any new acquisitions right now because we just have, we have enough of our own work to do.”
Godard Abel Oct 25, 2021 ▶ 3:34
Assertion Not checkable as stated
G2 serves over 3,500 total customers across vendor solutions and Track
“We have over 2500 software vendors that use you. And I think on the track side, you know, we're well over a thousand. So I think in total, you know, it's well over 3500.”
Godard Abel Oct 25, 2021 ▶ 3:55
Prediction Not checkable as stated
Abel predicts G2's buyer solutions will surpass vendor solutions within ten years
“My 10 year vision, Is certainly that the buyer solution becomes even bigger because the TAM there is literally every company in the world.”
Godard Abel Oct 25, 2021 ▶ 5:31
Assertion Supported
G2 currently categorizes over 100,000 software applications across 2,000 categories
“Because we categorize over a 100,000 apps into 2000 categories.”
Godard Abel Oct 25, 2021 ▶ 7:03
Assertion Not checkable as stated
Salesforce, SAP, and HubSpot spend over seven figures annually with G2
“You know, we do have large vendors also like Salesforce, SAP HubSpot as customers, and some of them frankly can spend, you know, over seven figures with us.”
Godard Abel Oct 25, 2021 ▶ 8:06
Assertion Not checkable as stated
Seven million software buyers visit G2.com every month
“Sellers love our buyer intent because, you know, now every month there's seven million software buyers coming to gtu.com and our buyer intent data can tell you what are they shopping for?”
Godard Abel Oct 25, 2021 ▶ 9:11
Assertion Not checkable as stated
G2's monthly recurring revenue surpassed $5 million in October 2021
“We are north of that.”
Godard Abel Oct 25, 2021 ▶ 11:11
Prediction Didn’t hold up
G2 aims to break $100 million in ARR during 2022
“Our goal is to break that next year.”
Godard Abel Oct 25, 2021 ▶ 11:20
Assertion Not checkable as stated
Early 2020 was the only quarter G2 failed to grow revenue
“So that was actually the only quarter in our history where we didn't grow our revenue.”
Godard Abel Oct 25, 2021 ▶ 12:21
Prediction Not checkable as stated
Abel projects G2 will maintain over 50% annual ARR growth
“And so I think what I can tell you looking forward, I think we are expecting to be, you know, 50% plus per annum AR revenue growth.”
Godard Abel Oct 25, 2021 ▶ 13:31
Assertion Supported
G2's recent $1.1 billion Series D valuation was post-money
“The 1.1 billion was a post post.”
Godard Abel Oct 25, 2021 ▶ 13:52
Disclosure
G2's $157M Series D included secondary liquidity for longtime employees
“Most of it was primary. So, although I will say, I mean, now I think probably like most unicorns, I mean, a nice thing for our longtime employees and investors, you know, there are secondary opportunities.”
Godard Abel Oct 25, 2021 ▶ 14:16
Disclosure
G2 plans to offer employee secondary liquidity on an annual basis
“Our vision there is, you know, to do that on a, let's say at least annual basis.”
Godard Abel Oct 25, 2021 ▶ 14:44
Disclosure
G2's net dollar retention sits between 100% and 150%
“I will say yes to that, but we're not going to disclose it. And we're not yet at one 50.”
Godard Abel Oct 25, 2021 ▶ 15:33
Assertion Not checkable as stated
G2 has scaled to over 500 full-time employees
“And now we're up over 500.”
Godard Abel Oct 25, 2021 ▶ 16:01
Assertion Not checkable as stated
Product and R&D teams comprise roughly one-third of G2's total headcount
“To be honest, I don't know exactly, but I do know our product R&D organization overall, which includes engineering, is about a third of the company.”
Godard Abel Oct 25, 2021 ▶ 16:08
Made with StarZero

Turn any episode into a week of clips.

This entire site, over 2,600 episodes transcribed, diarized, checked and made playable, runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the moments worth sharing, cuts them, captions them, and reframes them for every feed.

Try the podcast clipper Learn more