SAAS

We license our credit intelligence platform to other banks too. So we're a bank that lends money AND a software company that sells to other banks. Two revenue streams from the same technology.

No software. That was our first slogan. Twenty-five years later the entire industry copied us.

SaaS companies have predictable revenue. That revenue can be traded for upfront cash. No equity dilution. No debt.

Revenue-based financing is the future for capital-efficient software companies.

SaaS is the greatest business model ever invented. Recurring revenue. Negative churn. 80% gross margins. What’s not to love?

If your net revenue retention is above 120%, you can screw up almost everything else and still build a big company.

I’ve written 1,500 blog posts about SaaS. Each one is a tiny bet — a hypothesis I’m testing in public.

The SaaS playbook is well-understood now. The AI playbook is being written. That’s where the alpha is.

Net revenue retention above 130% means your existing customers grow faster than new customers leave. That’s a machine.

We're not competing with travel agents. We're competing with spreadsheets and email chains. That's the real enemy of business travel.

We replaced the clipboard at the yoga studio front desk. Not glamorous. But 58,000 businesses can't run without us. That's a good place to be.

Let the product sell itself. If users love it, growth follows. If they don't, no amount of salespeople will save you.

Enterprise software should not cost more than a car. That is a market failure we can fix.