Dear SaaStr: What Sales Comp Plan Should I Use For Our Very First Sales Rep?
Dear SaaStr: What Sales Comp Plan Should I Use For Our Very First Sales Rep? At the end of the day you have to solve for two things: A plan that gives the reps a living, fair wage; and A plan that you know and feel is accretive to the company. Sales reps have to be...
Medallia Is Just the Opening Act: 12+ PE SaaS Deals With $50B+ in Debt at Risk of Blowing Up
Thoma Bravo handed the keys to Medallia over to its lenders yesterday. Blackstone, KKR, Apollo, and Antares are taking control of a company Thoma Bravo bought for $6.4 billion in 2021, wiping out roughly $5.1 billion in equity held by the firm and its co-investors....
5 Interesting Learnings from ServiceNow at $14.7B in ARR: 22% Growth, Rule of 54, and the Paradox of Beat-and-Lose
Coming into Q1 2026 earnings, the narrative on ServiceNow was ugly. Stock down 32% year-to-date. Trading near the $100 support level, 46% off the peak. Cramer was hedging. Seeking Alpha was calling the valuation unsustainable. The bear case had three legs: AI would...
5 Interesting Learnings from Klaviyo at $1.2 Billion in ARR: 32% Growth, 110% NRR, and Somehow Only 4x Revenue
Possibly the most mispriced public B2B leader right now. Klaviyo reported its latest FY2025 results, and the numbers are genuinely top decile. It should be a hot stock: $1.234 billion in revenue for the full year Up 32% year-over-year, with Q4 alone hitting $350...
5 Interesting Learnings from Samsara As It Reaccelerates at $1.9 Billion in ARR
Samsara just closed out its fiscal year 2026, and while the vertical B2B leader has always been a rocketship, it’s now showing reacceleration to 30% growth as it crosses $2 Billion in ARR. There are several reasons as we’ll dig into below, but AI is on...
While Most B2B Companies Are Decelerating, Cloudflare Just Had Its Best Quarter Since 2021. 10 Numbers That Explain Why
Most public B2B companies right now are either decelerating or apologizing for it. Cloudflare is doing the opposite. In Q4 2025, Cloudflare reported $614.5M in revenue, up 34% year-over-year — on top of already being a $2.4B+ ARR business. That’s not a small...
CrowdStrike Just Had Its Best Quarter Ever. So Much for AI Disrupting Cybersecurity. But The Markets Want to See … Acceleration.
CrowdStrike at $5.25B ARR just posted its largest quarter of net new ARR ever — $331M, up 47% year-over-year. The first pure-play cybersecurity company to cross $5B in ARR. The first year ever above $1B in net new ARR. Record operating income, record free cash flow,...
DigitalOcean? It’s Up 12% in 2026. While The Rest of Software Is Down 24%. Here’s Why.
The IGV software ETF just entered a bear market. ServiceNow is down 50% from its highs. Salesforce and Workday have been crushed. And somehow, the little developer cloud that everyone wrote off is one of the only winners left standing. Let’s set the scene. It is...
Stripe’s Latest Data: Startups Are Growing 50% Faster, Compute Demand Drove ~50% of GDP Growth, 60% More Apps YoY, and More
Stripe just released its 2026 annual letter, and as always, it’s packed with data. But a lot of the letter covers stablecoins, agentic commerce protocols, and macro-economic commentary. All interesting — but let me pull out the 5 metrics that matter most if...
The 2025 IPO Class, Graded. Only 3 of 13 Are Above Water
Everyone said 2025 was the year the IPO window reopened. And technically, it did. 174 companies raised over $31 billion in the first half alone — the highest since 2021. But here’s what nobody wants to talk about: most of the B2B and tech IPOs from 2025 are now...
Canva Crosses a Stunning $4B ARR, Growing 35% (!). But What Would It Be Worth Today?
Canva just reported $4 billion in ARR per TechCrunch. And per COO Cliff Obrecht, it’s growing a stunning 35% $23M in 2018. $4,000M in 2025. 173x in seven years. It’s one of the most extraordinary B2B growth stories ever built — and it barely gets the...
SaaS Markets Have Crashed in 2026. But Is Private Credit the Even Bigger Risk?
We all know software stocks have entered a bear market in 2026. But the debt side of software might end up being a much bigger deal. IGV is down 23%+ year-to-date. $285 billion in market cap wiped out in a single day. Software P/S ratios compressed from 9x to 6x —...
Figma Just Hit $304M in a Single Quarter. Growing 40%. And Just Like That — SaaS is Back.
A lot of people counted Figma out after the Adobe deal collapsed. And then again as the stock price fell again and again post-IPO. They were wrong. Figma just reported Q4 2025 earnings, and the numbers are genuinely remarkable — not just for a design tool company,...
Shopify is Growing 30% at $11.6 Billion. The Stock is Down -28%. Is Nothing Good Enough Right Now?
Shopify remains on a total tear. The company just posted: 30% revenue growth at $11.6 billion $2 billion in free cash flow GMV accelerating to +29%, and guided Q1 to grow in the low 30s — above what Wall Street expected. They even announced a $2 billion buyback. And...
Founder SaaStr
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