81–90 of 251 posts
Am I reading this correctly in that they had a net loss in 2019 of $50.1 (42.4 adjusted) million dollars, and then in 2020 a net loss of $118.6 (68.2 adjusted) million dollars? (bottom of page 58) And that their plan is to just continue trying to upsell and acquire new customers? Hmmmm
According to the filing Asana has 1.2m paying users. Each user is worth maybe $1000. That puts Asana at 1.2bn. The median forward revenue multiple for public enterprise SaaS companies is 10x, and with 2020 revenues of 150mn that results in a 3bn market cap. A third data point is they raised 75M 16 months ago at a $900m post money valuation. With growth at 100% annually that puts their current valuation at 2.5bn or so…
Wow, this is a torrent of IPOs today. Investors / boards are wanting to get money out before things turn south I feel. Aside from that, I'm surprised how much it costs Asana on engineering R&D, for essentially a ticket management system. How does a team grow to ~300+ developers ($89M R&D) to figure out how to attach PDFs and videos to tickets, and email people when there's a change in status? (ok yes I'm oversimplify…
Is it possible to reach a S-1 with a decent valuation with just ~30 employees "market confidence"-wise?
Earlier quoted context omitted.
Very crowded market - not very sticky either relative to other SaaS type cos. I would avoid this one personally.
Am going to short this one once it is out- saying this as someone who has been a user.
Earlier quoted context omitted.
Yeah, what is going on at Asana? R&D costs outpacing revenue in the year before IPO really surprises me (from ~54% to ~62%). For comparison, Atlassian went from ~38% to ~36% in the year before IPO.
The thing that drives me absolutely bonkers with Asana (others do this as well) is that the freelancer has to upgrade their "free" account to roughly $70/month to get functionality like seeing a Timeline (think Gantt). Their pricing isn't clear that to upgrade to Premium (to get Timeline) says it's $10.99/month. It's not until you get to the next screen that it tells you it's 5x10.99/month because there is a five per…
Wow, this is a torrent of IPOs today. Investors / boards are wanting to get money out before things turn south I feel. Aside from that, I'm surprised how much it costs Asana on engineering R&D, for essentially a ticket management system. How does a team grow to ~300+ developers ($89M R&D) to figure out how to attach PDFs and videos to tickets, and email people when there's a change in status? (ok yes I'm oversimplify…
Costs a lot of money to build your own programming language and then throw it out. https://blog.asana.com/2017/08/performance-asana-app-rewrite...
Wow. Interesting.
According to the filing Asana has 1.2m paying users. Each user is worth maybe $1000. That puts Asana at 1.2bn. The median forward revenue multiple for public enterprise SaaS companies is 10x, and with 2020 revenues of 150mn that results in a 3bn market cap. A third data point is they raised 75M 16 months ago at a $900m post money valuation. With growth at 100% annually that puts their current valuation at 2.5bn or so…
Wow, this is a torrent of IPOs today. Investors / boards are wanting to get money out before things turn south I feel. Aside from that, I'm surprised how much it costs Asana on engineering R&D, for essentially a ticket management system. How does a team grow to ~300+ developers ($89M R&D) to figure out how to attach PDFs and videos to tickets, and email people when there's a change in status? (ok yes I'm oversimplify…
Costs a lot of money to build your own programming language and then throw it out. https://blog.asana.com/2017/08/performance-asana-app-rewrite...
Earlier quoted context omitted.
Snowflake, SumoLogic, Asana, Unity all filed S-1's today. 4 relatively large, well known companies filing IPO's today.
And AirBnB is much earlier in the process but has filed confidentially.