What's 🔥 in Enterprise IT/VC #171
who knew you could make money selling to developers?🤷🏼♂️
I’m back from a few days in Europe, and the energy and excitement for enterprise startups was simply awesome. Being there partly reminded me of NYC enterprise just 5 years ago as now there a number of high profile companies like Dataiku, Datadog, and UIPath, plenty of local funding, and VCs from Silicon Valley moving earlier and earlier in funding stage. Like NYC, it’s still hard to find key, super experienced hires in roles like product marketing and management and over time, you’ll see more and more European companies building their GTM motion in the states.
In other news, lots of great advice for scaling startups along with a number of articles on developer tooling and infrastructure.
As always, please share and retweet.
Sales math as startups scale - click on for full thread and comments…
Anna Miura-Ko nails it on her post about what true product market fit is, a minimum viable company.
Mathilde Collin from Front (a boldstart portfolio co) shares her Series C deck for round led by enterprise CEOs from Qualtrics, Zoom, Atlassian with Sequoia
With so many open source projects and tech, it’s quite hard for a back end developer to keep track - take a look at this roadmap for the backend developer on everything they need to know which means they will always be learning and barely shipping 😃
My colleague @ShomikGhosh21 shares a must read on dev tooling market
Phil Venables (ex-CISO Goldman Sachs, current board member) shares his thoughts on how startups can cut through the noise with so many vendors banging on a CISO/CIO’s door - what I ❤️ most is this from himThis is a biggie and one which has inverted pyramid for sales motion to enteprises, as I like to say, “win ❤️ and 🧠 of developers, win enterprise” - read more from who is ex-CISO and on the boardb3. Grass Roots Demand. Demand from end users, engineers, security team - genuine buzz/zeal shown by organic take up that led to an enterprise deal. The graveyard of hopes & dreams of vendors and customers alike is full of imposed product use from a top-down executive sale. 6/24Phil Venables @philvenables
On the application side, WSJ VC Pro highlights the VC search for the next Zoom or Slack - great to have portfolio cos Superhuman and Front covered! To be clear the barriers to entry are much lower for these next gen companies and having founders who understand the GTM motion becomes super important.
Tomasz Tunguz writes about Cloud Prem. This is what Replicated (a portfolio co) calls Modern On-Prem. It’s great that Tomasz lays this out as many in Silicon Valley believe the cloud is the only way to go but those who are close to the Fortune 500 customers knows that it will still take another 10 years or more for this full transition and for some industries it may never happen.
Snowflake is now worth over $12 billion with new investment from Dragoneer and Salesforce - as for why are they worth so much…
He said Snowflake has probably taken 2,500 customers from Amazon Web Services’ Redshift data warehousing service. They include Adobe, Instacart, Deliveroo and Strava, he said.
“We wouldn’t even exist as a company if we didn’t do that every day of the week,” Slootman said. AWS declined to comment.
Hashicorp in infrastructure automation space at $100mm run rate as end of last year
This success has lead to a $100 million annual run rate as of last year, according to the company, and McJannet predicts HashiCorp will continue to scale up quickly to meet demand. "We're now at 900 plus employees and will hire another 500 at least this year, because the market is pulling us so quickly," he said.
No comment needed 🤖
Wow - devs just getting started - $1 billion revenue mark for TwilioThat's and with over $1 billion in revenue! Who said you can’t make money selling to developers? 🤷🏻♂ryThat’s a wrap on Q4 2019 Earnings: $331M revenue, growing 62% Y/Y... and for FY 2019 - a huge milestone for the company crossing the billion mark at $1.1B! Thank you to Twilions, our customers, and our partners worldwide, yet, it’s still #DayOne. https://t.co/ltyRYkpwoPJeff Lawson @jeffiel
Google Cloud revenue finally revealed (chart from the Information) - like Microsoft, it includes application revenue from GSuite while Microsoft has Office 365