didyousaysomething
New member
Monday.com is one of the craziest stories in the software world.
Founded in 2012, they raise $384m through 8 rounds of fundraising.
Flash forward to 2019….
They are spending $100m/year on ads. 116% of their revenue at the peak.
From 2019-2021 it seemed like every time I touched my Facebook or went to YouTube I saw several Monday.com ads. Their ad frequency must have been off the charts.
Now not only did they get billions of impressions, but if someone skips a YouTube ad within the first few seconds, you don’t get charged. So in reality they likely got 3-5 billion additional brand impressions for free.
I remember thinking “you can’t brute force your way into relevancy, that’s crazy”.
But if you have a solid product to back it up (which clearly they did), then it looks like their gamble paid off.
The company IPOs and goes public in 2021 and has solid fundamentals and growth come 2023.
A recent SaaStr analysis shows they are up 91% YoY doing $400m ARR today. They followed the SaaS scaling blueprint of going both upmarket and multi product as they grew.
And their ad spending is way down as they shift tack to a more sales oriented motion.
This is a huge takeaway.
What gets you from A -> B, doesn’t have to be what gets you from B -> C.
Founded in 2012, they raise $384m through 8 rounds of fundraising.
Flash forward to 2019….
They are spending $100m/year on ads. 116% of their revenue at the peak.
From 2019-2021 it seemed like every time I touched my Facebook or went to YouTube I saw several Monday.com ads. Their ad frequency must have been off the charts.
Now not only did they get billions of impressions, but if someone skips a YouTube ad within the first few seconds, you don’t get charged. So in reality they likely got 3-5 billion additional brand impressions for free.
I remember thinking “you can’t brute force your way into relevancy, that’s crazy”.
But if you have a solid product to back it up (which clearly they did), then it looks like their gamble paid off.
The company IPOs and goes public in 2021 and has solid fundamentals and growth come 2023.
A recent SaaStr analysis shows they are up 91% YoY doing $400m ARR today. They followed the SaaS scaling blueprint of going both upmarket and multi product as they grew.
And their ad spending is way down as they shift tack to a more sales oriented motion.
This is a huge takeaway.
What gets you from A -> B, doesn’t have to be what gets you from B -> C.