Are the SaaS unicorns another hype bubble, or is there something really new happening? This article by Miguel Helft in Forbes says we are not in a bubble, and has a good case to back it up. The Zenefits story, that they got to $100MM in revenue in a fraction of the time it took Salesforce or Workday, is a specific example of the phenomena that we have been seeing in our benchmarking.
We’ve been writing that revenue growth of SaaS companies is accelerating, and we’ve been making the case that revenue growth is driven by the amount and structure of spending on sales and marketing . It’s great to see specific examples.
What do you think? Does the SaaS model make unicorns possible, more likely, or even commonplace?