Assertion certainty 4/5 debate potential 2/5

Rippling had roughly 300% net revenue retention during its Kleiner Perkins round

Prasanna Sankar · 1754 Parker Conrad Gave Rippling CTO 40%, Kept 60%, 2,000 Customers "$36m ARR Not Far Off" · May 13, 2020 · at 19:55

Prasanna Sankar, co-founder and CTO of Rippling, discusses the company's historical retention metrics during its funding round led by Kleiner Perkins.

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“When we raised our last financing round from Kleiner, it was around 300%, which was something, you know, abnormal.”

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The claim, plainly

When Rippling raised its financing round from Kleiner Perkins, its net revenue retention rate was around 300 percent.

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Mentioned

Kleiner Perkins Prasanna Sankar Rippling

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Insight

Hyper-growth startups rarely build beyond their first 18 months of product scope

“My hypothesis is that, You know, if you need to create a large hyper-growth company, whatever you've built in the first, like, 18 months or something is sort of the extent to which you're going to build in the life cycle of your company.”

Prasanna Sankar May 13, 2020 ▶ 11:17 1754 Parker Conrad Gave Rippling CTO 40%, Kept 60%, 2,000 Customers "$36m ARR Not Far Off"

Disclosure

Rippling's ambition is to reach a $100 billion valuation or bust

“It's a hundred billion or bust.”

Prasanna Sankar May 13, 2020 ▶ 6:40 1754 Parker Conrad Gave Rippling CTO 40%, Kept 60%, 2,000 Customers "$36m ARR Not Far Off"

Opinion

Rippling's SaaS app store model is a winner-take-all network effect business

“The ultimate play is like an app store where any SaaS developer can sort of plug in plug in and publishes app and you know, rippling provision seats and licenses on top of this on, you know, and provides distribution for these apps, right? So it's, it is clear…”

Prasanna Sankar May 13, 2020 ▶ 8:48 1754 Parker Conrad Gave Rippling CTO 40%, Kept 60%, 2,000 Customers "$36m ARR Not Far Off"

Disclosure

Rippling spent $10 million to build its minimum viable product

“Ten million dollars.”

Prasanna Sankar May 13, 2020 ▶ 2:59 1754 Parker Conrad Gave Rippling CTO 40%, Kept 60%, 2,000 Customers "$36m ARR Not Far Off"

Assertion Not checkable as stated

Zenefits continually failed when trying to expand into new markets

“We've seen that at Zenefits where we unsuccessfully tried to enter into new markets and, you know failed continually.”

Prasanna Sankar May 13, 2020 ▶ 11:51 1754 Parker Conrad Gave Rippling CTO 40%, Kept 60%, 2,000 Customers "$36m ARR Not Far Off"

Prediction Not checkable as stated

Rippling was close to reaching $36 million in ARR in May 2020

“Thirty six million dollars in ARR is not really far away.”

Prasanna Sankar May 13, 2020 ▶ 16:47 1754 Parker Conrad Gave Rippling CTO 40%, Kept 60%, 2,000 Customers "$36m ARR Not Far Off"

Rippling had roughly 300% net revenue retention during its Kleiner Perkins round

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