So it’s in the air.
Not everywhere, not at every start-up or scale-up. But in general, overall, a sense that SaaS is back. It’s not just AI, although that’s part of it. It’s not just the big run-up in many SaaS stocks recently, although that’s a big part of it. It’s also data that suggests that for those that have seen a downturn, the bottom is behind us.
Holy cow are some top SaaS stocks on a run. Not just Palantir:
– Toast now worth $40B, up 118% this year
– Samsara now worth $30B, up 79% this year
– Monday now worth $14B, up 63% this year
– HubSpot now worth $39B, up 39% this year
– Shopify now worth $148B, up 55% this year… pic.twitter.com/q1qP1nwr9r— Jason ✨👾SaaStr 2025 is May 13-15✨ Lemkin (@jasonlk) December 4, 2024
Brian Halligan, Chairperson and co-founder of HubSpot and also part-time partner at Sequoia growth was clear: it’s not necessarily easy today. But the “downturn”, where there was one, is behind us.
So it was fun and perhaps not surprising to see the latest SaaStr poll data. 78% of you see 2025 being better than 2024:
In most of B2B, it may never be as easy as 2H’20 and 2021. It was a time when a pandemic lead to rapidly accelerating buying in a way we may never see again.
But overall, SaaS buying was still up +20% this year. And AI is adding so much fuel to the fire.
2025 should be (even) better. At least, that’s what most of us think! And sentiment does matter.
