{"id":308853,"date":"2025-02-19T07:10:37","date_gmt":"2025-02-19T15:10:37","guid":{"rendered":"https:\/\/www.saastr.com\/?p=308853"},"modified":"2025-02-19T08:53:28","modified_gmt":"2025-02-19T16:53:28","slug":"5-interesting-learnings-from-similarweb-at-260000000-arr","status":"publish","type":"post","link":"https:\/\/www.saastr.com\/5-interesting-learnings-from-similarweb-at-260000000-arr\/","title":{"rendered":"5 Interesting Learnings from Similarweb at $260,000,000 ARR"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-308857 lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/02\/5-interesting-things-about-1-2.jpg?resize=560%2C315&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"560\" height=\"315\" data-srcset=\"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/5-interesting-things-about-1-2.jpg 560w, https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/5-interesting-things-about-1-2-480x270.jpg 480w\" data-sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) 560px, 100vw\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 560px; --smush-placeholder-aspect-ratio: 560\/315;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-308857\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/02\/5-interesting-things-about-1-2.jpg?resize=560%2C315&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"560\" height=\"315\" srcset=\"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/5-interesting-things-about-1-2.jpg 560w, https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/5-interesting-things-about-1-2-480x270.jpg 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) 560px, 100vw\" \/><\/noscript><\/p>\n<p>So there&#8217;s lot of debate on social media of just how big you need to IPO in SaaS and Cloud these days.\u00a0 All 4 of the IPOs since 2021 were at $500m+ ARR:\u00a0 Klaviyo, Rubrik, OneStream and Sailpoint.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">What&#39;s the real bar to IPO today? per <a href=\"https:\/\/twitter.com\/MeritechCapital?ref_src=twsrc%5Etfw\">@MeritechCapital<\/a>: <\/p>\n<p>1\u20e3$400M+ ARR<br \/>2\u20e3Growth of 30% or higher YoY (50-60% is even better)<br \/>3\u20e3A valuation between $3-5B <br \/>4\u20e3Net revenue retention of 110-120% (and trending up)<br \/>5\u20e3Strong SaaS gross margins<br \/>6\u20e3Clear path to profitability <a href=\"https:\/\/t.co\/k5xxnGISpj\">pic.twitter.com\/k5xxnGISpj<\/a><\/p>\n<p>&mdash; Jason \u2728\ud83d\udc7eSaaStr 2025 is May 13-15\u2728 Lemkin (@jasonlk) <a href=\"https:\/\/twitter.com\/jasonlk\/status\/1892004924289949748?ref_src=twsrc%5Etfw\">February 19, 2025<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>But you <em>can<\/em> IPO at lower levels.\u00a0 It&#8217;s just, if nothing else, it&#8217;s much tougher to get attention if you do.\u00a0 Many institutional investors avoid IPOs at less than a $3 Billion valuation to avoid illiquidity issues.<\/p>\n<p>And so small IPOs can happen, but they are tougher in many ways.\u00a0 Similarweb is one good example.\u00a0 They IPO&#8217;d at $190m ARR and today are at:<\/p>\n<ul>\n<li>$260m ARR<\/li>\n<li>Growing 16%<\/li>\n<li>112% NRR<\/li>\n<li>11% Free Cash Flow Margins<\/li>\n<li>And trading at $841m &#8230; or about 3.2x ARR<\/li>\n<li>Today it&#8217;s worth half of what it was at IPO in 2021 ($1.6 Billion)<\/li>\n<\/ul>\n<p>$841,000,000 is a big success by any standard!\u00a0 But &#8230; it&#8217;s trading at just 3.2x ARR and is growing at sub 20% rate at that scale.\u00a0 And so the\u00a0 markets don&#8217;t love it.<\/p>\n<p>It&#8217;s also a reminder that being more efficient <em>alone<\/em> isn&#8217;t enough.\u00a0 The markets want efficient growth, but they value growth more than efficiency.\u00a0 At least 2x more.\u00a0 At least.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-large wp-image-308854 lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.03.38-PM.png?resize=1080%2C983&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1080\" height=\"983\" data-srcset=\"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.03.38-PM-980x892.png 980w, https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.03.38-PM-480x437.png 480w\" data-sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1080px, 100vw\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1080px; --smush-placeholder-aspect-ratio: 1080\/983;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-large wp-image-308854\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.03.38-PM.png?resize=1080%2C983&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1080\" height=\"983\" srcset=\"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.03.38-PM-980x892.png 980w, https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.03.38-PM-480x437.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1080px, 100vw\" \/><\/noscript><\/p>\n<h3><strong>5 Interesting Learnings:<\/strong><\/h3>\n<h3><strong>#1.\u00a0 Growth is Modest, But is Re-Accelerating<\/strong><\/h3>\n<p>Similarweb&#8217;s growth isn&#8217;t the 25%+ that Wall Street likes to see at this size, but it is re-accelerating, from a low of 11% in Q4&#8217;23 to 16% today.<\/p>\n<p><a href=\"https:\/\/d1io3yog0oux5.cloudfront.net\/_0dd50410c65b59a39a6d8355842d1223\/similarweb\/db\/1912\/17788\/pdf\/SMWB+Q4+2024+Investor+Presentation+.pdf\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-large wp-image-308855 lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.04.10-PM.png?resize=1080%2C613&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1080\" height=\"613\" data-srcset=\"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.04.10-PM-980x556.png 980w, https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.04.10-PM-480x272.png 480w\" data-sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1080px, 100vw\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1080px; --smush-placeholder-aspect-ratio: 1080\/613;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-large wp-image-308855\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.04.10-PM.png?resize=1080%2C613&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1080\" height=\"613\" srcset=\"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.04.10-PM-980x556.png 980w, https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.04.10-PM-480x272.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1080px, 100vw\" \/><\/noscript><\/a><\/p>\n<h3><strong>#2.\u00a0 Growing Net New Customer Count as Fast as Revenue (17%)<\/strong><\/h3>\n<p>Similarweb is keeping net new customer growth at almost 20%.\u00a0 That positions it well for a good run of growth in the future.\u00a0 Too many mature SaaS companies these days that are at lower growth rates get almost all their growth from the base.\u00a0 From price hikes and more.\u00a0 Similarweb is still earning its new customers.<\/p>\n<p><a href=\"https:\/\/d1io3yog0oux5.cloudfront.net\/_0dd50410c65b59a39a6d8355842d1223\/similarweb\/db\/1912\/17788\/pdf\/SMWB+Q4+2024+Investor+Presentation+.pdf\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-large wp-image-308860 lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.09.48-PM.png?resize=1080%2C604&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1080\" height=\"604\" data-srcset=\"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.09.48-PM-980x548.png 980w, https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.09.48-PM-480x268.png 480w\" data-sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1080px, 100vw\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1080px; --smush-placeholder-aspect-ratio: 1080\/604;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-large wp-image-308860\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.09.48-PM.png?resize=1080%2C604&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1080\" height=\"604\" srcset=\"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.09.48-PM-980x548.png 980w, https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.09.48-PM-480x268.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1080px, 100vw\" \/><\/noscript><\/a><\/p>\n<h3><strong>#3.\u00a0 Deal Sizes Coming Down, Which Pressures ARR Growth<\/strong><\/h3>\n<p>While customer count growth is strong, and NRR is good (101% for smaller customers, 112% for $100k+ deals), the overall deal size is down.\u00a0 This is in part due to more smaller customers, but likely also in part due to contractions.\u00a0 $100k+ deals are still growing in number and ACV (next point).\u00a0 But the smaller customers are smaller and smaller, leading to 16% net growth in revenue.<\/p>\n<p><a href=\"https:\/\/d1io3yog0oux5.cloudfront.net\/_0dd50410c65b59a39a6d8355842d1223\/similarweb\/db\/1912\/17788\/pdf\/SMWB+Q4+2024+Investor+Presentation+.pdf\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-308862 lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.11.29-PM.png?resize=1000%2C570&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1000\" height=\"570\" data-srcset=\"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.11.29-PM-980x558.png 980w, https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.11.29-PM-480x274.png 480w\" data-sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1000px, 100vw\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1000px; --smush-placeholder-aspect-ratio: 1000\/570;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-full wp-image-308862\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.11.29-PM.png?resize=1000%2C570&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1000\" height=\"570\" srcset=\"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.11.29-PM-980x558.png 980w, https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.11.29-PM-480x274.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1000px, 100vw\" \/><\/noscript><\/a><\/p>\n<p>&nbsp;<\/p>\n<h3><strong>#4.\u00a0 $100k+ Deals a Big Push<\/strong><\/h3>\n<p>This is true almost across the board, from Monday to HubSpot to Asana and more.<\/p>\n<p><a href=\"https:\/\/d1io3yog0oux5.cloudfront.net\/_0dd50410c65b59a39a6d8355842d1223\/similarweb\/db\/1912\/17788\/pdf\/SMWB+Q4+2024+Investor+Presentation+.pdf\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-large wp-image-308863 lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.13.29-PM.png?resize=1080%2C603&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1080\" height=\"603\" data-srcset=\"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.13.29-PM-980x547.png 980w, https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.13.29-PM-480x268.png 480w\" data-sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1080px, 100vw\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1080px; --smush-placeholder-aspect-ratio: 1080\/603;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-large wp-image-308863\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.13.29-PM.png?resize=1080%2C603&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1080\" height=\"603\" srcset=\"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.13.29-PM-980x547.png 980w, https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.13.29-PM-480x268.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1080px, 100vw\" \/><\/noscript><\/a><\/p>\n<h3><strong>#5.\u00a0 CAC Elevated, Acquisition Costs Up From Historical Norms<\/strong><\/h3>\n<p>Similarweb has gotten a lot more efficient, but not by driving down CACs.\u00a0 Right now CACs are at 21-22 months, up from 15-16 months historically.<\/p>\n<p><a href=\"https:\/\/d1io3yog0oux5.cloudfront.net\/_0dd50410c65b59a39a6d8355842d1223\/similarweb\/db\/1912\/17788\/pdf\/SMWB+Q4+2024+Investor+Presentation+.pdf\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-large wp-image-308864 lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.14.32-PM.png?resize=1080%2C498&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1080\" height=\"498\" data-srcset=\"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.14.32-PM-980x451.png 980w, https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.14.32-PM-480x221.png 480w\" data-sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1080px, 100vw\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1080px; --smush-placeholder-aspect-ratio: 1080\/498;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-large wp-image-308864\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.14.32-PM.png?resize=1080%2C498&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1080\" height=\"498\" srcset=\"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.14.32-PM-980x451.png 980w, https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.14.32-PM-480x221.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1080px, 100vw\" \/><\/noscript><\/a><\/p>\n<h3><strong>And a few other interesting learnings:<\/strong><\/h3>\n<h3><strong>#6.\u00a0 Like Many, Radically More Efficient Than Just 2 Years Ago<\/strong><\/h3>\n<p>In 2022, Similarweb had -33% non-GAAP operating margins.\u00a0 Today?\u00a0 +6%.\u00a0 That&#8217;s a huge swing toward efficiency.\u00a0 And it came by cutting costs in every department.<\/p>\n<p><a href=\"https:\/\/d1io3yog0oux5.cloudfront.net\/_0dd50410c65b59a39a6d8355842d1223\/similarweb\/db\/1912\/17788\/pdf\/SMWB+Q4+2024+Investor+Presentation+.pdf\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-large wp-image-308865 lazyload\" data-src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.17.03-PM.png?resize=1080%2C600&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1080\" height=\"600\" data-srcset=\"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.17.03-PM-980x544.png 980w, https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.17.03-PM-480x267.png 480w\" data-sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1080px, 100vw\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1080px; --smush-placeholder-aspect-ratio: 1080\/600;\" \/><noscript><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter size-large wp-image-308865\" src=\"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.17.03-PM.png?resize=1080%2C600&#038;quality=70&#038;ssl=1\" alt=\"\" width=\"1080\" height=\"600\" srcset=\"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.17.03-PM-980x544.png 980w, https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/Screen-Shot-2025-02-18-at-3.17.03-PM-480x267.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1080px, 100vw\" \/><\/noscript><\/a><\/p>\n<p>And a great recent deep dive at SaaStr Annual with Meritech Capital on what it really takes to IPO today:<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"5Y2Mr188A4\"><p><a href=\"https:\/\/www.saastr.com\/the-real-data-on-what-it-takes-to-go-big-and-eventually-ipo-with-meritech-capital\/\">The Real Data on What it Takes to Go Big and Eventually IPO with Meritech Capital<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content lazyload\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#8220;The Real Data on What it Takes to Go Big and Eventually IPO with Meritech Capital&#8221; &#8212; SaaStr\" data-src=\"https:\/\/www.saastr.com\/the-real-data-on-what-it-takes-to-go-big-and-eventually-ipo-with-meritech-capital\/embed\/#?secret=BDKBazNUHW#?secret=5Y2Mr188A4\" data-secret=\"5Y2Mr188A4\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-load-mode=\"1\"><\/iframe><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>So there&#8217;s lot of debate on social media of just how big you need to IPO in SaaS and Cloud these days.\u00a0 All 4 of the IPOs since 2021 were at $500m+ ARR:\u00a0 Klaviyo, Rubrik, OneStream and Sailpoint. What&#39;s the real bar to IPO today? per @MeritechCapital: 1\u20e3$400M+ ARR2\u20e3Growth of 30% or higher YoY (50-60%&#8230; <br \/><a class=\"more-link fade\" href=\"https:\/\/www.saastr.com\/5-interesting-learnings-from-similarweb-at-260000000-arr\/\">Continue Reading<\/a><\/p>\n","protected":false},"author":19,"featured_media":308857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpscp_schedule_draft_date":"","_wpscp_schedule_republish_date":"","_wpscppro_advance_schedule":false,"_wpscppro_advance_schedule_date":"","_wpscppro_custom_social_share_image":0,"_facebook_share_type":"","_twitter_share_type":"","_linkedin_share_type":"","_pinterest_share_type":"","_linkedin_share_type_page":"","_instagram_share_type":"","_medium_share_type":"","_threads_share_type":"","_selected_social_profile":[]},"categories":[23926,31,28],"tags":[],"class_list":["post-308853","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-5-interesting-things","category-blog-posts","category-scale"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.saastr.com\/wp-content\/uploads\/2025\/02\/5-interesting-things-about-1-2.jpg?fit=560%2C315&quality=70&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5oib2-1ilv","jetpack_sharing_enabled":true,"fifu_image_url":"https:\/\/www.saastr.com\/wp-content\/uploads\/2025\/02\/5-interesting-things-about-1-2.jpg","_links":{"self":[{"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/posts\/308853","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/comments?post=308853"}],"version-history":[{"count":7,"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/posts\/308853\/revisions"}],"predecessor-version":[{"id":308921,"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/posts\/308853\/revisions\/308921"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/media\/308857"}],"wp:attachment":[{"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/media?parent=308853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/categories?post=308853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saastr.com\/wp-json\/wp\/v2\/tags?post=308853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}