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5 Things You Need to Know about Growing Your SaaS Business
November 24 @ 2:00 am - 4:00 pm
In 2011, Marc Andreessen explained on Wall Street Journal “why software is eating the world.” Today, four of the Big 5 tech companies (aka “FAAMG”) are primarily SaaS companies, namely, Facebook, Amazon, Microsoft, Google. In fact, the fifth member of FAAMG, Apple, also has a significant SaaS business. Together, these five companies are worth more than $5 trillion USD. Back in Canada, Shopify, which offers SaaS-based e-commerce services, became the most valuable Canadian company in 2020.
While COVID-19 causes extremely adverse economic conditions for many, it accelerates digital transformation and increases demand for digital solutions. As a result, it almost feels like SaaS companies are increasingly immune from COVID-19 and are poised to benefit from the windfall of this transformation. Looking ahead, the global SaaS market is “… expected to recover and grow at a CAGR of 10% from 2021 and reach $253 billion in 2023.”
Unfortunately, not all SaaS businesses are created equal. Some went bust rather spectacularly, the most recent example being Quibi. Founded in 2018, Quibi had raised over $1 billion USD in funding and was shut down in Oct 2020, six months after launch.
So why do some SaaS businesses succeed and why others fail?
Join this virtual workshop and learn:
- What is a SaaS business and what makes it tick
- How to grow a SaaS businessWhy recurring revenue is king
- How to measure success
- How to avoid pitfalls, minimize and mitigate downside risks