The document summarizes key points from a CFO Summit held on June 6th 2017. It includes an agenda with topics such as cost benchmarks, subscription business models, IT infrastructure costs, and regulatory updates. A presentation on benchmarks and market surveys unveiled subscription revenue multiples between 2005-2017, noting the average has rebounded to 5.5x for high-growth companies. Recent software IPOs were also examined based on metrics like revenue, growth characteristics, and time to positive free cash flow. The document aims to share data and insights to facilitate ongoing collaboration between CFOs.
A NoSQL database is ideal for storing, querying, and managing the any-structured information and new data types of the Big Data world … but does that mean a NoSQL database is ready for the enterprise? We say yes. People assume that Relational is always ACID and NoSQL is always BASE. Is that actually true? We say no.
In this 45-min webinar, Jason Hunter, Chief Architect of MarkLogic, and his colleague, Diane Burley, Chief Content Strategist, will discuss MarkLogic, the world's only Enterprise NoSQL Database.
You will learn:
- What's different about a NoSQL database
- What makes MarkLogic an Enterprise NoSQL Database
- How you can do ad hoc queries against ad hoc structured data
- How MarkLogic handles the CAP theorem limitations
- How MarkLogic opens up new opportunities in Big Data
In State of the Cloud 2021, we explore the major milestones and changes within the cloud economy and original analysis on what’s driving today’s private cloud valuations. In addition, we share new frameworks and emerging strategies to help founders measure growth endurance and drive go-to-market momentum. Plus, we dive into our seven predictions for 2021.
Top takeaways
Cloud companies have not just reset in the New Normal, but have thrived with a record-breaking market capitalization of more than $2 trillion.
There’s been a changing of the guard afoot: MT SAAS has overtaken FAANG.
Cloud multiples are rising to new heights, with both public and private cloud trading over 20x.
Cloud growth rates and access to capital are at all-time highs, with the average Cloud 100 company growing 80% YoY and $186 billion going into private cloud companies in 2020 alone.
Good-better-best of growth endurance is 70%-75%-80%.
GTM strategies have adapted in the New Normal; best practices include product-led growth, usage-based pricing, and the adoption of cloud marketplaces.
Daily sgx sinagpore report by epic research singapore 25 th september 2014Epic Research Singapore
Epic Research private limited have best technical research team, Our research team provide Daily report on SGX Singapore and SGX Exchange, You can get Daily Favorable Tips & future Strategy for SGX Stocks Market.
A NoSQL database is ideal for storing, querying, and managing the any-structured information and new data types of the Big Data world … but does that mean a NoSQL database is ready for the enterprise? We say yes. People assume that Relational is always ACID and NoSQL is always BASE. Is that actually true? We say no.
In this 45-min webinar, Jason Hunter, Chief Architect of MarkLogic, and his colleague, Diane Burley, Chief Content Strategist, will discuss MarkLogic, the world's only Enterprise NoSQL Database.
You will learn:
- What's different about a NoSQL database
- What makes MarkLogic an Enterprise NoSQL Database
- How you can do ad hoc queries against ad hoc structured data
- How MarkLogic handles the CAP theorem limitations
- How MarkLogic opens up new opportunities in Big Data
In State of the Cloud 2021, we explore the major milestones and changes within the cloud economy and original analysis on what’s driving today’s private cloud valuations. In addition, we share new frameworks and emerging strategies to help founders measure growth endurance and drive go-to-market momentum. Plus, we dive into our seven predictions for 2021.
Top takeaways
Cloud companies have not just reset in the New Normal, but have thrived with a record-breaking market capitalization of more than $2 trillion.
There’s been a changing of the guard afoot: MT SAAS has overtaken FAANG.
Cloud multiples are rising to new heights, with both public and private cloud trading over 20x.
Cloud growth rates and access to capital are at all-time highs, with the average Cloud 100 company growing 80% YoY and $186 billion going into private cloud companies in 2020 alone.
Good-better-best of growth endurance is 70%-75%-80%.
GTM strategies have adapted in the New Normal; best practices include product-led growth, usage-based pricing, and the adoption of cloud marketplaces.
Daily sgx sinagpore report by epic research singapore 25 th september 2014Epic Research Singapore
Epic Research private limited have best technical research team, Our research team provide Daily report on SGX Singapore and SGX Exchange, You can get Daily Favorable Tips & future Strategy for SGX Stocks Market.
Under cyber attack: EY's Global information security survey 2013EY
Under cyber-attack, EY's 16th annual Global Information Security Survey 2013 tracks the level of awareness and action by companies in response to cyber threats and canvases the opinion of over 1,900 senior executives globally. This year’s results show that as companies continue to invest heavily to protect themselves against cyber-attacks, the number of security breaches is on the rise and it is no longer of question of if, but when, a company will be the target of an attack.
For further information, visit: http://www.ey.com/GL/en/Services/Advisory/Cyber-security
Annual update presented to members of the Investment Office by the officers of the club. I created this presentation in collaboration with my fellow officer and other club members.
In Bessemer’s State of the Cloud 2020 Report, we distill twenty years of data on the private and public cloud market trends, dive into the time tested tenets that early-stage cloud founders need to prioritize for growth, and of course, share our predictions that explain the emerging categories we’re eyeing to spot promising new companies.
Since the early 2000s, the industry has seen exponential growth, both in private and public spheres. Many companies have cloud strategies in place, but they are amidst their digital transformations. We believe the future of technology is forged in the cloud, and after two decades of growth it’s just the beginning.
In a time when founders and investors are faced with unprecedented market volatility, it is especially timely to step back and look at the long arc of technology, and the cloud computing revolution in particular.
Source: bvp.com/cloud
Bessemer Venture Partners (Byron Deeter, Elliott Robinson, Hansae Catlett, Mary D'Onofrio)
Daily sgx sinagpore report by epic research singapore 10 th june 2014Epic Research Singapore
Epic Research private limited have best technical research team, Our research team provide Daily report on SGX Singapore and SGX Exchange, You can get Daily Favorable Tips & future Strategy for SGX Stocks Market.
SpringOwl's 99 Page Presentation On Turning Around ViacomEric Jackson
In this 99 page presentation, we lay out why Viacom's stock price has been cut in half in the past year, and our proposed plan for turning the company around.
Hear how Kelly Battles, CFO of Host Analytics, works with her finance team to track key financial and operating metrics data to drive performance and keep the company on track to deliver growth in 2011. In addition, Lauren Kelley, CEO of OPEXEngine will present key software industry benchmarks from OPEXEngine’s comprehensive financial and operating benchmarking report, developed in partnership with the SIIA. Join us for this informative webinar to learn more about how the benefits of metrics-driven, fact based decision making can help you drive better performance and efficiency within your own organization.
Presenters:
Lauren Kelley, CEO & Founder, OPEXEngine
Kelly Battles, CFO, Host Analytics
About the presenters:
Lauren Kelley is CEO and founder of OPEXEngine, the leading publisher of software financial and operating benchmarks. Ms. Kelley brings 25 years of successful experience in tech company management to OPEXEngine, as well as 6 years as an international economist at the US Department of Commerce’s Office of Computers early in her career, after entering Federal service through the prestigious Presidential Management Intern program. Prior to building OPEXEngine, she worked 2 years as an executive-in-residence at Grand Banks Capital, a venture fund focused on East Coast technology companies, evaluating potential investments. She has worked and lived extensively in Europe. She was previously Senior VP of WW Sales at ATG, including establishing field operations throughout Europe and Asia/Pacific, and was a General Manager for approximately 20 countries at Borland out of Paris in the early ’90s. Ms. Kelley also helped build Compaq’s Central and East European operations, based in Munich. Ms. Kelley is currently based in London, where she lives with her husband and two children.
Kelly Bodnar Battles is the CFO of Host Analytics, inc., the only provider of a CPM (Corporate Performance Management) suite of products delivered via software as a service.
Prior to Host Analytics, Kelly was VP, Finance at IronPort Systems where she was the first finance hire and was responsible for building and leading the finance, accounting, administrative and various operational functions during her six years there. During her tenure at IronPort, the company grew from $2M to $250M in annual bookings and was sold to Cisco Systems (NASDAQ: CSCO).
Before IronPort, Kelly was a Director in HP’s Strategy and Corporate Development group, a Strategy Consultant with McKinsey and Company, and a Corporate Finance Associate at J.P. Morgan. Kelly graduated with a B.S.E. from Princeton and M.B.A. from Harvard, both with honors. Kelly lives in the Bay Area with her husband, and their 2 children, labrador retriever and rescue cat.
Dr. Carsten Lehmann, Managing Director at IMAP Germany shares valuable insights into the key factors affecting company valuations in M&A, using the IT & Software sector as an example.
After the markets pounded SaaS early this year, CEOs started gearing up for a downturn. Your company may already be tightening its belt. But that might not be enough. Gainsight CEO Nick Mehta, InsightSquared CEO Fred Shilmover, and Bessemer Venture Capital partner Byron Deeter are teaming up for an all-star webinar to outfit you with a plan for the downturn. They'll discuss:
The timeline for the SaaS "reset"
Optimizing customer acquisition
Investing in lean revenue
And much, much more
Corporate FX Questions and Answers for 2016FiREapps
Andy Gage (VP at FiREapps) and Bruce Lynn (MP at FECG) explore corporate foreign currency management programs that have emerged in response to increasing and sustained complexity and volatility in the global currency markets over the past year and beyond.
Analysis of recent transactions in System Software Industry detailing on Transaction Multiples (Revenue & EBITDA), Multiples Chart, Active Buyers & Transaction Data. A goldmine of resource for Entrepreneurs.
Under cyber attack: EY's Global information security survey 2013EY
Under cyber-attack, EY's 16th annual Global Information Security Survey 2013 tracks the level of awareness and action by companies in response to cyber threats and canvases the opinion of over 1,900 senior executives globally. This year’s results show that as companies continue to invest heavily to protect themselves against cyber-attacks, the number of security breaches is on the rise and it is no longer of question of if, but when, a company will be the target of an attack.
For further information, visit: http://www.ey.com/GL/en/Services/Advisory/Cyber-security
Annual update presented to members of the Investment Office by the officers of the club. I created this presentation in collaboration with my fellow officer and other club members.
In Bessemer’s State of the Cloud 2020 Report, we distill twenty years of data on the private and public cloud market trends, dive into the time tested tenets that early-stage cloud founders need to prioritize for growth, and of course, share our predictions that explain the emerging categories we’re eyeing to spot promising new companies.
Since the early 2000s, the industry has seen exponential growth, both in private and public spheres. Many companies have cloud strategies in place, but they are amidst their digital transformations. We believe the future of technology is forged in the cloud, and after two decades of growth it’s just the beginning.
In a time when founders and investors are faced with unprecedented market volatility, it is especially timely to step back and look at the long arc of technology, and the cloud computing revolution in particular.
Source: bvp.com/cloud
Bessemer Venture Partners (Byron Deeter, Elliott Robinson, Hansae Catlett, Mary D'Onofrio)
Daily sgx sinagpore report by epic research singapore 10 th june 2014Epic Research Singapore
Epic Research private limited have best technical research team, Our research team provide Daily report on SGX Singapore and SGX Exchange, You can get Daily Favorable Tips & future Strategy for SGX Stocks Market.
SpringOwl's 99 Page Presentation On Turning Around ViacomEric Jackson
In this 99 page presentation, we lay out why Viacom's stock price has been cut in half in the past year, and our proposed plan for turning the company around.
Hear how Kelly Battles, CFO of Host Analytics, works with her finance team to track key financial and operating metrics data to drive performance and keep the company on track to deliver growth in 2011. In addition, Lauren Kelley, CEO of OPEXEngine will present key software industry benchmarks from OPEXEngine’s comprehensive financial and operating benchmarking report, developed in partnership with the SIIA. Join us for this informative webinar to learn more about how the benefits of metrics-driven, fact based decision making can help you drive better performance and efficiency within your own organization.
Presenters:
Lauren Kelley, CEO & Founder, OPEXEngine
Kelly Battles, CFO, Host Analytics
About the presenters:
Lauren Kelley is CEO and founder of OPEXEngine, the leading publisher of software financial and operating benchmarks. Ms. Kelley brings 25 years of successful experience in tech company management to OPEXEngine, as well as 6 years as an international economist at the US Department of Commerce’s Office of Computers early in her career, after entering Federal service through the prestigious Presidential Management Intern program. Prior to building OPEXEngine, she worked 2 years as an executive-in-residence at Grand Banks Capital, a venture fund focused on East Coast technology companies, evaluating potential investments. She has worked and lived extensively in Europe. She was previously Senior VP of WW Sales at ATG, including establishing field operations throughout Europe and Asia/Pacific, and was a General Manager for approximately 20 countries at Borland out of Paris in the early ’90s. Ms. Kelley also helped build Compaq’s Central and East European operations, based in Munich. Ms. Kelley is currently based in London, where she lives with her husband and two children.
Kelly Bodnar Battles is the CFO of Host Analytics, inc., the only provider of a CPM (Corporate Performance Management) suite of products delivered via software as a service.
Prior to Host Analytics, Kelly was VP, Finance at IronPort Systems where she was the first finance hire and was responsible for building and leading the finance, accounting, administrative and various operational functions during her six years there. During her tenure at IronPort, the company grew from $2M to $250M in annual bookings and was sold to Cisco Systems (NASDAQ: CSCO).
Before IronPort, Kelly was a Director in HP’s Strategy and Corporate Development group, a Strategy Consultant with McKinsey and Company, and a Corporate Finance Associate at J.P. Morgan. Kelly graduated with a B.S.E. from Princeton and M.B.A. from Harvard, both with honors. Kelly lives in the Bay Area with her husband, and their 2 children, labrador retriever and rescue cat.
Dr. Carsten Lehmann, Managing Director at IMAP Germany shares valuable insights into the key factors affecting company valuations in M&A, using the IT & Software sector as an example.
After the markets pounded SaaS early this year, CEOs started gearing up for a downturn. Your company may already be tightening its belt. But that might not be enough. Gainsight CEO Nick Mehta, InsightSquared CEO Fred Shilmover, and Bessemer Venture Capital partner Byron Deeter are teaming up for an all-star webinar to outfit you with a plan for the downturn. They'll discuss:
The timeline for the SaaS "reset"
Optimizing customer acquisition
Investing in lean revenue
And much, much more
Corporate FX Questions and Answers for 2016FiREapps
Andy Gage (VP at FiREapps) and Bruce Lynn (MP at FECG) explore corporate foreign currency management programs that have emerged in response to increasing and sustained complexity and volatility in the global currency markets over the past year and beyond.
Analysis of recent transactions in System Software Industry detailing on Transaction Multiples (Revenue & EBITDA), Multiples Chart, Active Buyers & Transaction Data. A goldmine of resource for Entrepreneurs.
Battery Ventures State of the OpenCloud Report 2022Battery Ventures
Battery Ventures' 2022 State of the OpenCloud report, compiled by General Partner Dharmesh Thakker and his team Danel Dayan, Jason Mendel and Patrick Hsu. The report analyzes the macro technology and economic trends impacting the cloud market, and provides advice for cloud-native entrepreneurs who are navigating these trends to build large, enduring businesses.
An analysis of Salesforce's Revenue model, ama;yzing its robustness and a 3 year revenue forecast based on a breakdown of their industry and geographic sectos
Stock Pitch For Satellite Based Solutions PowerPoint Presentation Ppt Slide T...SlideTeam
Our Stock Pitch For Satellite Based Solutions PowerPoint Presentation Ppt Slide Template is the perfect way to pitch your stock. We have researched thousands of stock pitches and designed the most impactful way to convince your investors to invest in your equity. http://bit.ly/3bqjxUh
StatPro Revolution brochure - Summer 2012StatPro Group
StatPro Revolution is a cloud-based portfolio analytics service that will transform the way you communicate with your clients. It will reduce your operating costs, enhance your productivity, and fuel a critical understanding of portfolio performance with accurate, up to date performance analytics.
Similar to Zuora's 2017 CFO Summit SaaS Benchmark Slides (20)
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
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Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
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Youtube – https://www.youtube.com/startuplviv
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Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
2. Summit intro
“Share data,
unblemished and
unbiased, in an effort to
provide transparency
and define best
practices, while creating
a network for ongoing
collaboration that lives
on long past this
afternoon.”
3. Today
1. Know Your Benchmarks…The
Survey Results Unveiled
Tyler Sloat, CFO Zuora
David Spitz, Managing Director Pacific-Crest
2. Cost to Book / Cost to Serve: The
Natural Long-Term Operating Margin
Leverage in Subscription Businesses
Walter Pritchard, Managing Director Citigroup
3. Runaway Costs of AWS and
Hosting and the Ideal Structure for
Your Corp IT
Ross Meyercord, CIO Salesforce.com
4. The Do's and Don’ts of D&O
Insurance
Priya Cherian-Huskins, SVP Woodruff-Sawyer &
Co
5. ASC606 Part 2 – Don’t Forget the
Commission Impact / General Update
Jagan Reddy, SVP/GM Zuora RevPro
Prasadh Cadambi, Partner KPMG
6. The Evolution of the CFO: Fireside
Chat
Ken Goldman, CFO Yahoo
5. Introducing
our speaker
David Spitz - Managing Director, Software and Security
• David Spitz joined Pacific Crest in 2004 and is a leader in the firm’s software
investment banking group, with an emphasis on software-as-a-service and cloud
computing.
• Of his 26 years of investment banking experience, 19 years have been focused on
the software industry. David’s team has served as a managing underwriter on
recent public offerings for HubSpot, Zendesk,Veeva, Amber Road, Cvent,
Cornerstone OnDemand, ExactTarget, Imperva, Responsys, ServiceNow and
Splunk, among others.
• His advisory experience includes Plex’s private placement led byT. Rowe Price;
WebPT’s fundraising with BatteryVentures;TOA’s private placement; Gomez in its
sale to Compuware; and IDeaS in its sale to SAS. Prior to Pacific Crest, David ran
the global software and Internet investment banking practice at SoundView
Technology Group.
• He began his career with CS First Boston in itsTechnology Group. He holds three
degrees from MIT: a B.S. in computer science, an M.S. in electrical engineering
and an M.S. in management from the Sloan School.
7. Source: Capital IQ; depicts average EV / NTM revenue consensus estimate valuations of the SaaS universe on a weekly basis (based on price at end of week)
Note: SaaS universe index is equally-weighted and includes the following (when each was publicly traded): ALRM, AMBR, APPF, APTI, ATHN, AYX, BCOV, BL, BNFT, BOX, BV, CNVO, COUP, COVS, CRM, CSLT,
CSOD, CTCT, CVT, DMAN, DWRE, ECOM, EOPN, ET, EVBG, FIVN, FLTX, HUBS, INST, KNXA, LOGM, MB, MIME, MKTG, MKTO, MRIN, MULE, N, NEWR, NOW, OKTA, OMTR, OPWR, PAYC, PCTY, PFPT,
PFWD, QTWO, RALY, RNG, RNOW, RP, SFSF, SHOP, SLRY, SPSC, SQI, TLEO, TRAK, TWOU, TWLO, TXTR, VEEV, WDAY, WK, XTLY, YDLE and ZEN
SaaS EV / Forward 12-Month Revenue Multiples Since
2005
Average since
Jan ’05:
4.9x
High (1/17/14):
8.4x
Current (5/26/17):
6.4x
8. Growth is Back to Historic Premium
• Sector has had extreme growth orientation since emergence from 2009 downturn and “normalization” of 2010 IT spend
• Average of hyper-growth has rebounded to 5.5x revenue
• Value multiples expanded in late 2012 and 2013 on the back of capital return and activist theses, again in 2016
• Segment performance suggests “growth” group is set up well, especially if there is better macro backdrop
• Hyper: ADBE, CRM, SPLK, VEEV, PFPT, SHOP, NOW, WDAY, TLND, CLDR; Growth: RHT, FTNT, GWRE, FEYE, DATA, JCOM, OTEX, SCWX; Value: CA, INTU, MSFT,
ORCL, SAP, VMW, CTXS, ADSK, CHKP, VRSN, SYMC, WEB, MSTR
0x
2x
4x
6x
8x
10x
12x
Jun-07 Jun-08 Jun-09 Jun-10 Jun-11 Jun-12 Jun-13 Jun-14 Jun-15 Jun-16 Jun-17
EV/Rev(NTM)
Software Value Growth Hyper
15. Free Cash Flow Profile of Recent Software IPOs
(1): Based upon initial research analyst estimates for each company published following IPO
How long from the IPO until the company turns free cash flow positive?
18. Disclosures
KeyBanc Capital Markets is a trade name under which corporate and investment banking products and
services of KeyCorp and its subsidiaries, KeyBanc Capital Markets Inc., Member NYSE/FINRA/SIPC
(“KBCMI”), and KeyBank National Association (“KeyBank N.A.”), are marketed. Pacific Crest Securities is a
division of KBCMI. Securities products and services are offered by KeyBanc Capital Markets Inc. and its
licensed securities representatives, who may also be employees of KeyBank N.A.. Banking products and
services are offered by KeyBank N.A..
This document has been prepared by Pacific Crest Securities, a division of KeyBanc Capital Markets Inc.,
herein known as “PCS”. The material contained herein is based on data from sources considered to be
reliable, however PCS does not guarantee or warrant the accuracy or completeness of the information. This
document is for informational purposes only. Neither the information nor any opinion expressed constitutes
an offer, or the solicitation of an offer, to buy or sell any security. This document may contain forward-looking
statements, which involve risk and uncertainty. Actual results may differ significantly from the forward-looking
statements. This report is not intended to provide personal investment advice and it does not take into
account the specific investment objectives, financial situation and the specific needs of any person or entity.
This communication is intended solely for the use by the recipient. The recipient agrees not to forward or
copy the information to any other person outside their organization without the express written consent of
PCS.
23. LTV [LifetimeValue] = Customer Life * (ARPA * Gross Margin)
Sum of all sales & marketing expenses
# of new customers added in the period
CAC [CustomerAcquisition Cost] =
Magic Number
=
(Q2 Rev – Q1 Rev) *4
Q1 Sales & Marketing Expense
ARR n + 365
- only includes ARR from customers existing at start
ARR
Net Retention =
Or pick your own metrics
24. Calculate your own or track your peer
set
ServiceNow Netsuite Box Zendesk Demandware Twilio Marketo Hubspot Apptio New Relic Atlassian Coupa Blackline Talend
Customers X X X X X X X X X
Net new customers X X X X X X X X X
Retention (% customers) X X X X X X
Retention ($ ACV) X X
Upsell ($ ACV) X X X X
Contract length X
Billings duration X
Billings / billings growth X X X
Contract value by cohort X
Headcount by functional unit X
Subscription revenue X X X X X X X X X X X
Subscription revenue growth X X X X X X X X X X X
27. Benchmarking against the Best
GEI on
ARR
ARR
Growth
(Y/Y)
S&M as a %
ARR
Recurring
Profit Margin
%
G&A as a %
ARR
R&D as a %
ARR
Alteryx 1.18 58% 60% 35% 26% 21%
AppDynamics 1.61 NA 108% -33% 54% 57%
Apptio 2.59 25% 61% 31% 15% 30%
Atlassian NA NA NA NA NA NA
Blackline 1.93 47% 68% 39% 21% 23%
Box 2.09 124% 162% 2% 37% 42%
Cloudera 2.04 NA 132% -12% 22% 76%
Cornerstone On Demand 0.97 62% 67% 48% 19% 15%
Coupa 1.65 76% 61% 26% 22% 30%
Demandware 1.78 44% 58% 40% 23% 21%
Hubspot 1.49 49% 70% 37% 17% 20%
Marketo 1.52 63% 79% 26% 25% 25%
MuleSoft 1.84 NA 102% 43% 25% 24%
New Relic 1.55 72% 92% 39% 22% 22%
Netsuite 1.34 67% 53% 45% 11% 13%
Okta 1.23 90% 96% 19% 24% 31%
RingCentral 1.47 NA 56% 19% 20% 24%
ServiceNow 0.62 105% 51% 59% 12% 10%
Talend 1.99 43% 76% 42% 23% 20%
Twilio 0.47 NA 37% 1% 23% 25%
Ultimate NM 35% 39% 29% 13% 33%
Veeva 0.36 109% 28% 40% 13% 20%
WorkDay 0.80 NA 81% 1% 13% 64%
Yext 2.07 45% 63% 31% 22% 17%
Zendesk 0.97 80% 61% 13% 22% 24%
Average 1.46 66% 73% 26% 22% 29%
$100mn ARR
GEI on
ARR
ARR
Growth
(Y/Y)
S&M as a %
ARR
Recurring
Profit Margin
%
G&A as a %
ARR
R&D as a %
ARR
Qs from $100mn to
$200mn ARR
Alteryx NA NA NA NA NA NA NA
AppDynamics NA NA NA NA NA NA NA
Apptio NA NA NA NA NA NA NA
Atlassian 0.45 45% 22% 14% 22% 49% NA
Blackline NA NA NA NA NA NA NA
Box 2.44 74% 100% 25% 29% 27% 5
Cloudera 4.59 73% 102% 22% 13% 47% 5
Cornerstone On Demand 3.30 54% 61% 56% 15% 12% 6
Coupa NA NA NA NA NA NA NA
Demandware 0.49 38% 45% 32% 20% 29% 7
Hubspot 1.43 58% 62% 53% 16% 15% 6
Marketo 2.13 40% 61% 49% 15% 17% 8
MuleSoft 1.46 62% 66% 49% 19% 25% 5
New Relic 1.60 60% 70% 40% 18% 26% 5
Netsuite 2.28 22% 54% 60% 11% 16% 17
Okta NA NA NA NA NA NA NA
RingCentral 1.33 38% 50% 33% 16% 22% 9
ServiceNow 0.79 85% 49% 33% 18% 17% 5
Talend NA NA NA NA NA NA NA
Twilio 0.53 81% 24% 10% 18% 25% 5
Ultimate 1.42 26% 27% 37% 9% 23% 13
Veeva 0.50 79% 25% 46% 12% 17% 4
WorkDay 0.92 116% 66% -17% 40% 56% 3
Yext NA NA NA NA NA NA NA
Zendesk 1.01 64% 48% 30% 18% 22% 5
Average 1.57 60% 55% 34% 18% 26% 6.75
$200mn ARR
28. Grow Fast or Die Slow
Our perspective is based on research into 3,200 public software companies between
1980 – 2013
3197 companies analyzed that were public between 1980 – 2013 and were categorized as one of the four
following categories: Internet Software & Services, Application Software, System Software, and Home
Entertainment Software in CPAT Nominal revenue
3 Excluded Loyaltouch SA. Internet Retailers such as Amazon, Netflix, Rakuten have not been included
3,197
953 212 108 19
# of public SW companies1,3 to reach
different revenue2 points (1980-2013)
$100M $500M $1B $4B
Conversion
Rate (%)
30% 7% 3% <1%
B2B B2C
Sustaining growth is
challenging for
software companies
SOURCE: CPAT; McKinsey
analysis
McKinsey & Company
29. Grow Fast or Die
Slow
4-5x
greater
returns1
10xhigher
likelihood of
crossing
$1B2
2.5x
higher revenue
multiple for early
growth
1 - Supergrowers (>50% CAGR) vs. Growers (10-50% CAGR)
2 - Supergrowers (>50% CAGR) vs. Stallers (<10% CAGR) McKinsey & Company
Growth rate matters … a lot
31. P P M
PM/PMM
R&D
Docs
Recruiting
Onboarding
Training
HelpDesk
Finance
Operations
Legal
Product People Money
P A D R E
Web
Social
AR/PR
Events
Products Launches
Demand Gen.
Field Enablement
Business Dev.
Emerging
Enterprise
International
Sales Eng.
Self Service
Squads
Partners
Methodology
Tech Ops
Support
Renewals
Account Mgmt.
Adoption
Training
Upsell
Cross-sell
Pipeline Acquire Deploy Run Expand
32. Pacific Crest 2016 Private SaaS Company Survey
• 336 private SaaS company participants, conducted
summer 2016 (7th annual)
• Focus on financials, operations, SaaS metrics
• Detailed 71-page report, with results “sliced and diced” to
determine benchmarks & patterns
• Broad diversity of participants:
• Median size of $5MM revenue, also 60+ >$25MM
• Heavily U.S.-headquartered companies, but
approximately 30% international
44. Acquire: What are your commission rates?
11%
40%
27%
22%
< 5%
6-10%
11-15%
> 15%
Cheapskates
The Norm
The Norm
Breaking The Bank
45. Deploy
• Profit or break even?
• What KPIs should you hold the
implementation team accountable to?
• Alignment between Sales Professional
Services
• When does subscription start?
46. Deploy
Have an implementation
component to their
solution
70%
Do not charge for their
implementation
component
39%
Of customers go
live within 30 days
of contract signing
53%
64% commence the
subscription on
contract signing
64%
47. Deploy: Professional Services Impact on Go-To-Market
Source: Pacific Crest 2016 Private SaaS Company Survey
Excludes Companies <$2.5MM in Revenue
146 and 139 respondents, respectively
Professional Services (as % of 1st year ACV) Professional Services Gross Margin
48. Deploy: What is your average implementation fee as
a percentage of your annual subscription fees?
>50%
20%-50%
0%-20%
Included or “Free”
4%
7%
50%
39%
Implementation Fee as a % of Annual Bookings
49. Deploy: What is the average time it takes for your new
customers to go live?
0-1 day 2-30 days 31-60 days 61-180 days >180 days
16% 37% 18% 28% 1%
50. Run • Churn is the Achilles heel of any subscription
business
• Gross Margin improvements = Efficiency
• Support verses customer success
• SLAs and uptime commitments
• How does a company learn from service
tickets?
52. Run: Cost Structure by Revenue Band: Public SaaS
Companies
Source: Pacific Crest 2016 Private SaaS Company Survey based on historical analysis of 52 SaaS companies’ IPO filings
53. Run: What is your subscription gross
margin?
>75%
71-75%
66-70%
60-65%
51-60%
<50%
0% 10% 20% 30% 40% 50% 60%
SubscriptionGrossMargin%inRange
% of Respondents
10%
7%
9%
9%
14%
52%
54. Run: What is the annual R&D expense per engineer
using average # of engineers in seat throughout the
year?
(Including product, quality assurance, and engineering departments)Annual R&D Expense per Engineer: Data suggests ~5%
increase Y/Y28%
19%
22%
12%
8%
5%
2% 1%
4%
25%
19%
17%
12% 12%
6%
4%
3%
3%
0%
5%
10%
15%
20%
25%
30%
<$100K $101K-$125K $126K-$150K $151K-$175K $176K-$200K $201K-$225K $226K-$250K $251K-$300K >$300K
2016 2017
55. Run: Are your customers
committed? Contract Terms
Monthly
Semi-
Annual
1-2
Years
> 2
Years
8%
7%
68%
17%
56. Run: Are your customers committed?
Source: Pacific Crest 2016 Private SaaS Company Survey
Respondents: Average Contract Length: 270, Average Billing Period: 268
57. Run: Are your customers committed?
Source: Pacific Crest 2016 Private SaaS Company Survey
Respondents: Total: 165, Month to Month: 10, Less than 1 year: 13,1 year: 30, 1 to 2 years: 69, 2 years: 35, 3+ years: 8
58. Run: Are your customers committed?
Source: Pacific Crest 2016 Private SaaS Company Survey
Respondents: Total: 163, Field Sales: 77, Inside Sales: 34, Internet Sales: 7, Mixed/Other: 45
59. Run: Are your customers committed?
Source: Pacific Crest 2016 Private SaaS Company Survey
Respondents: Total: 154, <$5K: 19, $5K-$15K: 26, $15K-$25K: 19, $25K-$100K: 56, $100K-$250K: 19, >$250K: 15
61. Expand
• Who owns the upsell?
• Sales efficiency depends on farming the
existing base
• New usage, new divisions, new
products…can all be leveraged as upsell
strategy
62.
63. 40%
53%
8%
Who Manages Upsells?
Customer Success Team
Sales Reps
Other
34%
66%
Do you pay for results?
no yes
Sales reps are the key – companies generating higher upsells assign reps to
manage
Expand
64. Expand: What percentage of New ACV is from Upsells
to Existing Customers?
Source: Pacific Crest 2016 Private SaaS Company Survey
Respondents: Total: 154, <$5K: 19, $5K-$15K: 26, $15K-$25K: 19, $25K-$100K: 56, $100K-$250K: 19, >$250K: 15
Respondents: Respondents: Total: 285, <$2.5MM: 106, $2.5MM-$5MM: 46, $5MM-$7.5MM: 23, $7.5MM-$10MM: 20, $10MM-$15MM: 12, $15MM-
$25MM: 27,$25MM-$40MM: 15, $40MM-$75MM: 22, >$75MM: 14
65. “How much do you
expect your ACV from
existing customers to
change, including the
effect of both churn and
upsells?”(1)
Expand: Annual Net Dollar Retention from Existing Customers
Source: Pacific Crest 2016 Private SaaS Company Survey
(1): We define this as the “net dollar retention rate”
240 respondents
66. Expand: CAC Ratio on New Customers vs. Upsells vs.
Expansions vs. Renewals
Source: Pacific Crest 2016 Private SaaS Company Survey
Respondents: New ACV from New Customer: 174, Upsells to Existing Customer: 127, Expansions: 131, Renewals: 137
67. Expand: Net retention can be the difference between being a
good company and a great company
Source: Pacific Crest 2016 Private SaaS Company Survey
Respondents: Total: 77, Yes: 20, No: 57
68. Expand
What percentage of your total annual bookings are from upsells?
Upsell as % of Total Annual Bookings Range
%ofRespondents
Upsell as % of Total Annual Bookings
28%
29%
25%
12%
6%
1%
0%
5%
10%
15%
20%
25%
30%
<10% 11-20% 21-40% 41-60% 61-80% 81-100%
69. Expand: Churn
What percentage of $ ARR (entering 2016) churned in 2016?
32%
14%
33%
21%
Churn as % of Entering ARR
<5% 10%-15% 5%-10% >15%
70. Disclosures
KeyBanc Capital Markets is a trade name under which corporate and investment banking products and services of
KeyCorp and its subsidiaries, KeyBanc Capital Markets Inc., Member NYSE/FINRA/SIPC (“KBCMI”), and KeyBank
National Association (“KeyBank N.A.”), are marketed. Pacific Crest Securities is a division of KBCMI. Securities
products and services are offered by KeyBanc Capital Markets Inc. and its licensed securities representatives, who may
also be employees of KeyBank N.A.. Banking products and services are offered by KeyBank N.A..
This document has been prepared by Pacific Crest Securities, a division of KeyBanc Capital Markets Inc., herein known
as “PCS”. The material contained herein is based on data from sources considered to be reliable, however PCS does
not guarantee or warrant the accuracy or completeness of the information. This document is for informational
purposes only. Neither the information nor any opinion expressed constitutes an offer, or the solicitation of an offer,
to buy or sell any security. This document may contain forward-looking statements, which involve risk and uncertainty.
Actual results may differ significantly from the forward-looking statements. This report is not intended to provide
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and the specific needs of any person or entity.
This communication is intended solely for the use by the recipient. The recipient agrees not to forward or copy the
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