3 weeks after SaaStr Annual 2021, I think I've learned IRL events will be more important than ever before ... but with some significant caveats:

My learnings: 🔽🔽🔽🔽🔽
1/ Marketers + Sponsors really want to run the field events playbook

And ... channels are ever-more saturated, and marketers have ever bigger budgets that have to deploy

The >top< events have buyers attending

So if your prospects and customers are there, you want to be there
2/ Top speakers still want to connect with their audiences IRL

I wasn't actually sure this would be true post Covid

But top speakers want to connect with their customers, prospects, partners, potential hires (especially)

They now want do digital events AND the top IRL events
3/ Attendees still want to come -- but the bar may be higher here

Will folks fly to see recycled content they can see on YouTube? We'll see

Will folks fly to see other folks they need to see IRL when we're all working from home?

The answer seems to be Definitely
But

4/ Will subscale IRL events still matter, post-Covid?

We'll see if top-tier attendees, in a distributed world, want to travel to subscale and second-tier events

It's different than when everyone worked in SF together

Maybe
5/ What will be the role of digital events after all this?

Almost everyone is seeing a drop in engagement and sign-ups from digital events after 15+ months of endless mediocre digital events

Does anyone want to join yet another identical digital event?
Some further learnings here:

saastr.com/10-learnings-f…

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More from @jasonlk

19 Oct
So GitLab just hit a $15B market cap

It's one that just ... always was growing at epic rates, from YC Demo Day to IPO

It's growing a stunning 69% a year at $250,000,000+ in ARR

5 Interesting Learnings: 🔽🔽🔽🔽🔽
#1. 152% NRR from $100k+ customers.

We’re getting used to seeing these super-high NRR numbers from the top developer-focused leaders, in many cases because utility pricing often encourages it (see also Datadog, Twilio, etc). Still, these are truly top-tier numbers:
#2. 97% GRR (Gross Retention Rate)

It’s great and helpful to see this broken out as well to compare yourself to. GitLab’s customers … stay. Almost all of them.

97% GRR is world-class. Service Now has 99% -- but their customers sign 3 year contracts!!
Read 10 tweets
18 Oct
Expensify:

Founded in 2008 ... 13 years ago

A long, tenacious path to $100m ARR, and then ... Boom!!

* 60% growth in Year 13 at $140m+ ARR!!
* 119% NRR from SMBs!!
* Super Profitable (35% EBITDA!!)

#golong Image
$1M in ARR per employee could be a new efficiency record at IPO for SaaS: Image
An incredible 60% of their revenue comes from employees using the free version on their own, for their own expenses, and then socializing it to their "boss".

PLG before it was hot: Image
Read 4 tweets
13 Oct
So Toast is now worth a stunning $27B!

And it's growing a stunning 118% at a $3B run rate

But the overall margins are low (21%), they lose money on services and hardware, and barely make money on payments

Is it SaaS?

5 Interesting Learnings: 🔽🔽🔽🔽🔽
#1. With gross margins of only 21%, is Toast really a software company? Not yet. Not today.

While its software has decent margins of 66%, software is only 10% of Toast’s total GAAP revenue.
It loses money on the hardware (gross margin negative) and payments have barely a 20%+ margin and constitute the vast majority of revenue today. It would take a lot of work for Toast to hit the 60% gross margin standard to be a true software company
Read 11 tweets
29 Sep
"We're now creating more than one unicorn per day" @bdeeter
"Canva will be the fastest startup to $1B in ARR" @bdeeter @BessemerVP
"Market leaders in SaaS average about 64% market share" @TheValuesVC @BessemerVP
Read 5 tweets
27 Sep
Good Times
Read 4 tweets
25 Sep
SaaStrAnnual.com 2021
Starts MONDAY!!

(tomorrow for Day 0 AMA with ME and early registration)

6,200+ SaaS execs

100% Outdoors + Open Air
100% Vax'd + Tested
100% Fun

CEO Calendly
CEO Databricks
CEO Vimeo
CEO Box
CEO TripActions
CEO Postman
CEO Algolia
CEO Zapier
A few notes:

1/ Yes, we have enough rapid-tests for everyone on-site. But you'll save yourself 20-30 minutes of testing + waiting by bringing a test results from last 72 hours with you.

2/ Come TOMORROW Sunday for Day 0 AMA, register early, and meet some folks
3/ Dress comfy. Will be warm during the day but may be a bit chilly at night. Bring a sweatshirt but maybe short sleeves during day.

4/ Very festival style. Will be the most informal Annual in a while, being outdoors. Come to learn, but also just to have fun.
Read 5 tweets

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