GM SaaS Sellers! 👋

Schmuck. Insurance.

Thats what you can expect today.

Tech went wild last week — but we've got you covered so you're never out of the loop. 

We are SO back!… right?

🚀 3 IPOs, a $28-BILLION acquisition and interest rates sat pretty.

Oh, baby, we're not just back - WE ARE ON FIRE!!!!! 🔥🔥

Whats Up?

After a 21-month tech IPO freeze – Instacart, Klaviyo and Arm all IPO’d last week.

Here’s a few pocket references…

🥕 Instacart (grocery delivery)

1. IPO’d with a market cap of $8.21B. Down significantly from private valuation of $39B in 21’ (YEESH) ☠

2. Very early employees made out like bandits – but if you joined after Series B (14’) you would have done better working at FAANG and investing in the market 🤦‍♂️

3. Investors after 18’ got HAMMERED (cries in VC tears) 🔨

📩 Klaviyo (email marketing)

1. IPO’d with a market cap of $8.7B. Only slightly down from private valuation of $9.5B in 22’ 🏋️‍♀️

2. Klaviyo is our canary in the coal mine – nearly defending its “bubble” valuation 🐥

3. 78% of their recurring dough rolls in from Shopify. Talk about putting all your eggs in one basket. Klaviyo’s playing with fire, building on another's turf 👻

💽 Arm (smart chip designer)

1. After a 7-year break via SoftBank’s $32B acquisition, Arm IPO’d at a whopping $52.6B 🤑

2. SoftBank tried sliding Arm over to NVIDIA in 21’ for a cool $40 billion, but regulators were like, "Nah, not today." 🙅‍♀️

3. Reaction? They expected fireworks but got snakes and sparklers instead — Investors are hanging back, fishing for a deal 🎣

🧗‍♂️ Splunk (monitoring)

1. Cisco continues their innovation via acquisition strategy and dropped a cool $28 billion on Splunk 💸

2. Splunk investors, pop the bubbly! From chilling in the $80s-90s range, they're cashing in at $157/share. Remember when it was just $65/share? Yeah, neither do we 🥂

3. On-trend with ol’ school observability (new relic, sumo logic) getting snapped up by PE or Strategics in the last 6-months 🔍

TLDR;

On the surface, things look shiny, but dig a bit, and you'll find some mixed signals... 📈📉

• Instacart: Took a deep breath and slashed prices just to get that public market cash. Ouch.

• Klaviyo: Standing tall, but its defenses? Let's just say we've seen better walls 🏰

• Arm: A much needed cash infusion for Softbank as it gasps for air, especially with those WeWork-esque weights dragging 'em down.

• Splunk: A moment of silence for the observability titans as they slowly get folded up (RIP)

For all the buzz last week, Wall Street's reaction? A big fat "meh." Not the applause we were hoping for 🤷‍♂️

What TF does this mean for Enterprise Sales?

Alright, sales rockstars, is it a rewind to the 2019 glory days? 🕰️

Well... not quite.

A juicy IPO window is kinda the lifeblood for the software world (good vibes trickle down, ya know?). But don't expect a full-blown SaaS fiesta anytime soon.

Sure, the IPO window's ajar, but ain't swingin' wide. And c'mon, who doesn't crave a fresh breeze right now?

Keep those peepers peeled on market reactions to these new stock tags, and zoom in on the mega-anticipated IPOs - Stripe, Reddit, Databricks, Discord, Mobileye, Intercom, Navan, and the gang.

(And, sidebar: TripActions rebranding to Navan? Seriously, wtf?! 🤔)

If these big shots keep hitting the snooze button on their IPOs, brace for a SaaS chill. ❄️

Selling to the soon-to-be-public crowd?

Things might heat up — especially if you're in the governance, compliance, or financial arena.

And gear up, for "Maturity", “IPO Readiness” and "Efficiency" to be THE buzzwords.

TF is DALLE?

Riddle me this?

What can make an engineer drool and a designer cry? 🧐

……..

……

….

Guessed yet?

…

..

.

.

DALLE 3 !

TF IS DALLE?

It must be the new album from Mr. Worldwide, right?

… unfortunately, no

Boom! OpenAI did it again. Last week, they unveiled DALLE 3.

Think of DALLE as the artsy cousin of ChatGPT - it's all about images.

Basically you can type anything in chatgpt and some witch craft will come out the other side. 🧙

So, you type in “CMO in Allbirds, donning a clown hat, and rambling about attribution and how she somehow hit the number even though they were 50% short” and... voila! 🎨

Curious? dive in here.

So while we may not be getting a new string of classics from Pitbull, we may be getting rid of a lot of the design team.

Anyway... “take your life (Q3) from a negative to a positive!”

Later 🖖

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