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Bye-bye 2011, hello 2012

The Angel VC

In 2011 there were 0 write-offs , which means that the total number of active investments is 26. No exits yet (but two small secondary sales, which together returned about 25% of the total amount I invested) My portfolio is way too young to draw any final conclusions but it's obviously looking very good so far.

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The End of Customer Success As We Knew It

SaaStr

The Massive Push of CS into a Sales Function This is an even bigger change. CS in many ways become “weaponized” by sales and SaaS companies to chasing tough renewals and supporting aggressive upgrades in tougher times. CS likely will remain attached to sales in many cases, limiting its role to revenue-focused activities.

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The 6 Things The Old Me Would Tell The Young Me

SaaStr

Young Me, 2011 : $100m ARR seems so very far from our $10m ARR today. Young Me, 2011 : But what if we can’t IPO? You will be able to do a secondary sale of some of your shares if you continue to do well. Young Me, 2011 : I don’t really want to do another VC round. Young Me 2011 : The competition just raised $50m+.

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Finding Opportunities in Every Challenge: From Humble Beginnings to 30 Million Users with Miro Founder and CEO Andrey Khusid, and ICONIQ Growth General Partner Matthew Jacobson (Pod 580 + Video)

SaaStr

Miro was founded in 2011 and has iterated on its product and expanded its audience widely over the years. Currently, Miro is one of the fastest-growing companies at scale, but it didn’t take off immediately at the same velocity in 2011. So, to drive adoption, they created more sophisticated sales enablement and customer success.

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The 10x Feature is Real. At Least, for a While. What’s Yours?

SaaStr

Talk to any experienced SaaS sales leader in a competitive space. Boy we won a lot of deals here with our “Global Edition” Web sales went global and everyone wanted a product where the e-signature app worked in the native languages of signers and senders. 2011: Collaboration. That was crazy early in 2011.

Scale 220
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5 Interesting Learnings from Amplitude at $150,000,000 in ARR

SaaStr

They were founded in 2011 and IPO’d ten years later in 2021 at $150,000,000 in ARR, growing 57%, and have rocketed to a $7B+ valuation. Rather, it uses overage events to trigger a call from sales to buy more. #4. 245 employees in Sales & Marketing — vs. 101 in Engineering / R&D. 5 Interesting Learnings: #1.

Scale 284
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Dear SaaStr: What’s a Fair Amount of Founder Secondary in a Series B VC funding round?

SaaStr

Secondary sales done right truly align founders and the company and incent them to go long. My advice generally then is either wait until the next round (take less dilution, make more on the secondary sale). I got a significant offer as we approached $10m ARR back in the day at Adobe Sign / EchoSign — and I should have taken it.

Scale 209