It’s busy. Time in tech, with billions burning in recent days: FTX is on the brink of death, while Twitter, which was recently sold at a meaningless price after the close of trading, is either going bankrupt or not, depending on the situation. Confirmed the new owner’s recent comments.
But while there’s plenty of shiny things that demand our attention, the larger (and more boring) world of B2B software is having an amazing year. When Covid-19 first hit the world, there was doubt that tech companies would perform well. Those concerns were misplaced; As it turns out, businesses of all sizes still need technology solutions to run their business, which means tech companies have more motivation even as much of the economy is hurting.
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The market has gone a little too far with the idea in the past year, pushing valuations into the stratosphere and betting that so many small tech companies are the next Microsoft that the number of truly huge winners in a partnership context will be limited.
Regardless, prices have declined and growth reported by some public technology companies has slowed. But looking at Q3 results, it’s not too hard to see elements of strength amid executives’ warnings that the economy will remain sluggish in the coming quarters.
Investors are getting tighter results this year, so we’re getting more granular. Today, let’s take a look at some of the latest technologies from companies selling to corporations large and small – with a focus on overall retention. We’ll also have some new information from GGV next week in our chat with Appian’s CEO and where SMBs are spending. This gives us a somewhat more complete view of where the software market – the largest technology industry for the most part – is today and where it may be headed in the next year.
