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Clouded Judgement 2.29.24 - Shades of 2021

Clouded Judgement

Subscribe now Shades of 2021 in Venture Markets Private markets are really starting to heat up, and I’m starting to see shades of 2021. ” I heard that a lot in 2021, and unfortunately not many call options hit… It’s hard to invest at 100x ARR and exit at 10x and make a return VCs aim for.

Cloud 317
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5 Interesting Learnings from UiPath at $600,000,000 in ARR

SaaStr

— Jon Ma (@jonbma) March 27, 2021. UiPath grew from 6,009 customers last year to 7,968 at January 2021, or 33% growth. But since the effective NRR is still 145%, ARR-style metrics still work. Even if a lot of the revenue isn’t truly recurring SaaS revenue. — Jason BeKind Lemkin (@jasonlk) March 29, 2021.

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5 Interesting Learnings from GitLab at $250,000,000 in ARR

SaaStr

— GitLab (@gitlab) October 14, 2021. GitLab China is a new independent company formed in 2021, both SaaS and self-managed, available only in China, Hong Kong and Macau. And 100 by 2020 and 200 by 2021. 90% of GitLab’s customers pay by subscription — but most still self-manage the deployment.

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The Monthly Recurring Revenue Guide for 2021

Chart Mogul

Answering the most common and most pressing questions about MRR to guide your 2021 planning. Monthly recurring revenue is one of the least exciting topics to take on in 2020. MRR stands for Monthly recurring revenue. Because MRR is based on subscriptions, it has a strong forward-looking element. What is MRR?

Payments 145
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5 Interesting Learnings from Rubrik at $784,000,000 in ARR

SaaStr

So it’s been a long IPO drought since HashiCorp was the last IPO of the Boom Times in December 2021. But now a second SaaS security leader has filed to IPO, Rubrik. They’re still transitioning from onprem / appliciance model to cloud, which makes some of the metrics a touch confusing. 500m+ ARR, with ~50% growth?

Scale 290
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Crafting the Perfect Investor Pitch: 5 Metrics Metrics That Matter with Christoph Janz of Point Nine Capital 

SaaStr

What data and metrics do you need to convince SaaS investors you’re in good shape and aligned with what they care about? These metrics are more targeted to those preparing for a Series A or B round and could make the difference between an excited-to-invest-in-you investor and a pass. What gets investors excited about this metric?

Metrics 177
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Clouded Judgement 10.11.24 - Budget Flush

Clouded Judgement

We all know 2020 and 2021 was the year of excessive software buying fueled by ZIRP. Given most software companies are not profitable, or not generating meaningful FCF, it’s the only metric to compare the entire industry against. I created this subset to show companies where FCF is a relevant valuation metric.

Cloud 167