Hot in Enterprise IT/VC - What's 🔥 in Enterprise IT/VC #280
What's 🔥 in Enterprise IT/VC #280Dev first stocks 📉 but still bullish in LT - MongoDB - from $100M ARR to $1B ARR in 5 years 🤯
🙏🏼 for 🇺🇦 - this week’s focused giving is on Alex Iskold from 2048 Ventures 1k Project to send $1k to directly support a family that has been impacted by the war in Ukraine. If interested, you can donate here. So this past week I tweeted this out. Some perspective on fast growing developer first + infra startups
Hashicorp once valued >$14B now $6.7B, ARR run rate $322M
Gitlab once valued >$15B now $5.5B, ARR run rate $268M
Founders, if u haven't adjusted valuation expectations, u better
100x NTM is over for 99% of cos Alex Wilhem from TechCrunch expanded on this tweet here: Jason Lemkin from SaaStr has a great post adding to the 🧵 - “Your VCs Are Worried About Public Multiples. Do You Need To Worry, Too?” Now that I have your attention, read more in the 🧵 as it’s not the end of the world but more of an expectations resetting on valuations. As thus far less affected and Bs somewhat - will be interesting next few months as still so much private capital on sidelines where funds want to put 💰 to work, thus increasing round sizes and valuations For those founders who raised large preemptive rounds at super high prices, cash is king 👑, revisit your budget, make it last, will need even better performance to avoid down rounds due to multiple compression Most founders will still believe they are in the 1% where this does not apply to them and who can fault them for it. However, my strong belief is that while this correction is overdone and things will improve once we get through this war, I highly doubt that we will be back to the world of 100x NTM ARR but perhaps we will find a happy medium between 20x and 100x. The good news is that all all is not lost for developer first and infrastructure companies as a number continue to grow and beat their quarterly revenue targets. Case in point is MongoDB which is continuing to show the power of consumption based pricing as it beat its earnings and jumped over 20% after announcement. 😲 Here are a few quotes from the most recent earnings transcript:
More on the bull case for enterprise 💰 spending:
And MongoDB continuing to refine its GTM motion as it aims to grow from $1B ARR run rate to $2B and more…
I am as bullish as ever and as I’ve always said, what better time to start a company than now. Super early stage funding has been minimally affected, and if you are in build mode the next 12-18 months, by the time you are out with product, I do believe the world will be much improved. We @boldstartvc continue to invest at company formation having added 3 new founding teams in the last two weeks to the family and are doubling down as they grow - more below on Upstream (DAO in a box) and more… Let’s keep 🏗️ and onwards and upwards! As always, 🙏🏼 for reading and please share with your friends and colleagues! Scaling Startups
Enterprise Tech
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