{"id":255,"date":"2020-07-13T04:00:00","date_gmt":"2020-07-12T20:00:00","guid":{"rendered":"http:\/\/blog.cloud500.net\/?p=255"},"modified":"2024-05-29T18:10:37","modified_gmt":"2024-05-29T10:10:37","slug":"saas-%e5%85%ac%e5%8f%b8ipo-%e8%b7%af%e7%ba%bf%e5%9b%be%ef%bc%9a-%e5%a6%82%e4%bd%95%e6%88%90%e4%b8%ba-1-%e4%ba%bf%e7%be%8e%e5%85%83%e8%90%a5%e6%94%b6%e7%9a%84%e7%8b%ac%e8%a7%92%e5%85%bd","status":"publish","type":"post","link":"http:\/\/blog.cloud500.ai\/?p=255","title":{"rendered":"SaaS \u516c\u53f8IPO \u8def\u7ebf\u56fe\uff1a \u201c\u5982\u4f55\u6210\u4e3a 1 \u4ebf\u7f8e\u5143\u8425\u6536\u7684\u72ec\u89d2\u517d\u201d"},"content":{"rendered":"\n\n
\n

\n \n <\/p>\n

\n \u5728\u8fc7\u53bb\u7684\u51e0\u5e74\u4e2d\uff0c\u4e16\u754c\u4e0a\u6700\u4f18\u79c0\u7684\u521b\u4e1a\u8005\u548c\u6295\u8d44\u4eba\u90fd\u53d1\u5e03\u4e86\u6781\u5177\u4ef7\u503c\u7684\u5173\u4e8e SaaS \u521b\u4e1a\u7684\u6587\u7ae0\u3002Christoph Janz \u5199\u4e86\u5173\u4e8e\u878d\u8d44\u7684\u6587\u7ae0\uff0cNeeraj Agrawa \u5199\u4e86\u6709\u5173\u589e\u957f\u7684\u6587\u7ae0\uff0cJason Lemkin \u5199\u4e86\u3002\u3002\u3002\u51e0\u4e4e\u5305\u542b\u4e86\u65b9\u65b9\u9762\u9762\u3002\u8fd9\u4e9b\u6587\u7ae0\u6781\u5177\u4ef7\u503c\u7684\u5730\u65b9\u5728\u4e8e\uff1a\u6d89\u53ca\u4e86\u5927\u91cf\u7684\u6570\u636e\u548c\u6307\u6807\uff0c\u53ef\u4ee5\u5e2e\u52a9\u8bfb\u8005\u66f4\u597d\u7684\u4e86\u89e3\u6bcf\u4e00\u5bb6\u6210\u529f\u7684\u521d\u521b\u4f01\u4e1a\u5728\u6210\u957f\u8fc7\u7a0b\u4e2d\u7684\u6bcf\u4e00\u4e2a\u73af\u8282\u7684\u5177\u4f53\u60c5\u51b5\u3002\u90a3\u4e48\uff0c\u5f53\u6211\u4eec\u5c06\u8fd9\u4e9b\u6570\u5b57\u653e\u5728\u4e00\u5f20\u7535\u5b50\u8868\u683c\u4e2d\u65f6\uff0c\u53c8\u4f1a\u53d1\u751f\u4ec0\u4e48\u5462\uff1f\u5b83\u80fd\u591f\u5e2e\u52a9\u6211\u4eec\u63cf\u7ed8\u51fa\u4e00\u5bb6\u7845\u8c37 SaaS \u516c\u53f8\u4ece\u521d\u521b\u5230 IPO \u7684\u4f1f\u5927\u613f\u666f\u5417\uff1f<\/span>\n <\/p>\n

\n \u4ee5\u4e0b\u4fbf\u662f\u6211\u4eec\u7684\u7b54\u6848\uff1a<\/span>\n <\/p>\n

\n \n <\/p>\n

\n \u672c\u6587\u5c06\u4f1a\u901a\u8fc7\u4e0d\u540c\u89d2\u5ea6\u5e2e\u52a9\u6211\u4eec\u8fdb\u4e00\u6b65\u4e86\u89e3\u6211\u4eec\u6240\u5c55\u793a\u7684\u56fe\u8868\u3002\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0c\u8fd9\u91cc\u6240\u63d0\u4f9b\u7684\u6570\u5b57\u4ec5\u4f9b\u53c2\u8003\uff0c\u5e76\u4e0d\u662f\u786c\u6027\u89c4\u5b9a\u3002\u5b83\u4eec\u4ec5\u9002\u7528\u4e8e\u5728\u7845\u8c37\u3001\u6709\u98ce\u6295\u80cc\u666f\u7684 SaaS \u521d\u521b\u516c\u53f8\u3002<\/span>\n <\/p>\n

\n \n 1.\u00a0<\/span>\n \n \u65f6\u95f4\u6846\u67b6\uff1a6 \u5e74\u65f6\u95f4\u6210\u4e3a SaaS \u72ec\u89d2\u517d\u516c\u53f8\uff0c9 \u5e74\u65f6\u95f4\u6210\u529f\u4e0a\u5e02<\/span>\n <\/strong>\n <\/span>\n <\/p>\n

\n \u521b\u4e1a\u662f\u4e00\u573a\u957f\u671f\u6e38\u620f\u3002<\/span>\n <\/p>\n

\n Steve Blank, Morgan Brown, Brian Balfour \u548c Reid Hoffman <\/span>\u90fd\u9610\u8ff0\u4e86\u4ed6\u4eec\u5bf9\u521d\u521b\u4f01\u4e1a\u751f\u547d\u5468\u671f\u7684\u770b\u6cd5\u3002\u6211\u4eec\u6ce8\u610f\u5230\uff0c\u4e00\u4e2a\u6210\u529f\u7684\u521d\u521b\u4f01\u4e1a\u5728\u5176\u751f\u547d\u5468\u671f\u4f1a\u7ecf\u5386\u4e09\u4e2a\u9636\u6bb5\uff1a<\/span>\n <\/p>\n

\n Garage \u2014\u2014 \u4ece\u89e3\u51b3\u95ee\u9898\u5230\u5b9e\u73b0\u5339\u914d\u5e02\u573a\u7684\u4ea7\u54c1<\/span>\n <\/p>\n

\n \n Growth Machine<\/span>\n \u00a0\u2014\u2014 \u6269\u5927\u6e20\u9053\u3001\u4ea7\u54c1\u7ebf\u548c\u5730\u7406\u4f4d\u7f6e<\/span>\n <\/span>\n <\/p>\n

\n Unicorn \u2014\u2014 \u5e02\u503c\u7a33\u5b9a\u5728 10 <\/span>\u4ebf\u7f8e\u5143\u4ee5\u4e0a\uff0c\u5e76\u5177\u6709\u6d41\u52a8\u6027<\/span>\n <\/p>\n

\n \n <\/p>\n

\n \n \u5728<\/span> 2016 \u5e74\u7684\u7f8e\u56fd\uff0c\u6210\u4e3a\u4e00\u5bb6\u72ec\u89d2\u517d\u516c\u53f8\u5e73\u5747\u9700\u8981 <\/span>6 <\/span>\u5e74\u5de6\u53f3\u7684\u65f6\u95f4\u3002\u201c\u72ec\u89d2\u517d\u201d\u4e00\u8bcd\u6700\u65e9\u662f\u7531 <\/span>Cowboy Ventures <\/span>\u7684 <\/span>Aileen Lee <\/span>\u6240\u63d0\u51fa\u7684\uff0c\u662f\u6307\u4f30\u503c\u8fbe\u5230 <\/span>10 <\/span>\u4ebf\u7f8e\u5143\u53ca\u4ee5\u4e0a\u7684\u79d1\u6280\u516c\u53f8\uff0c\u5305\u62ec\u4e0a\u5e02\u548c\u672a\u4e0a\u5e02\u516c\u53f8\u3002\u6700\u8fd1\u53c8\u56e0\u4e3a\u4e00\u4e9b\u672a\u77e5\u539f\u56e0\uff0c\u5c06\u4e0a\u5e02\u516c\u53f8\u6392\u9664\u5728\u8fd9\u4e00\u8303\u56f4<\/span><\/span>\n \u5916\u3002\u65e0\u8bba\u5982\u4f55\uff0c\u6210\u4e3a\u4e00\u5bb6\u72ec\u89d2\u517d\u516c\u53f8\u5373\u4f7f\u5bf9\u5927\u591a\u6570\u521b\u4e1a\u8005\u5e76\u4e0d\u610f\u5473\u7740\u6210\u529f\uff0c\u4f46\u4e5f\u53ef\u4ee5\u7b97\u4f5c\u901a\u5411\u6210\u529f\u7684\u4e00\u5ea7\u91cc\u7a0b\u7891\u3002<\/span>\n <\/span>\n <\/p>\n

\n \n <\/p>\n

\n \u90a3\u4e48 SaaS \u516c\u53f8\u6210\u529f\u4e0a\u5e02\u9700\u8981\u591a\u957f\u65f6\u95f4\u5462\uff1f\u6839\u636e Pitchbook <\/span>\u7684\u6570\u636e\u663e\u793a\uff0c\u4ece\u9996\u6b21\u83b7\u5f97\u878d\u8d44\u5230\u4f01\u4e1a IPO<\/span>\uff0c\u5e73\u5747\u6240\u9700\u65f6\u95f4\u4e3a 8.2 <\/span>\u5e74\u3002\u5982\u679c\u518d\u52a0\u4e0a\u672a\u878d\u8d44\u524d 12 <\/span>\u4e2a\u6708\u5de6\u53f3\u7684\u6ce8\u518c\u65f6\u95f4\uff0c\u6211\u4eec\u9884\u8ba1TTI(time to IPO<\/span>\uff0c\u6210\u4e3a\u4e00\u5bb6\u4e0a\u5e02\u516c\u53f8)<\/span>\u57289<\/span>\u5e74\u5de6\u53f3\u3002<\/span>\n <\/p>\n

\n \n <\/p>\n

\n \n 2.\u00a0<\/span>\n \n \u589e\u957f\u901f\u5ea6\uff1a<\/span>\n <\/strong>\n \n \u4e24\u6b21<\/span>\n <\/strong>\n \n \u4e09\u500d\u901f\u589e\u957f\uff0c\u4e09\u6b21\u4e24\u500d\u901f\u589e\u957f\uff0c\u7136\u540e\u4fdd\u6301 82% <\/span>\n <\/strong>\n \n \u7684\u589e\u901f<\/span>\n <\/strong>\n <\/span>\n <\/h2>\n

\n \n Neeraj Agrawal<\/span>\n \u00a0\u66fe\u5728<\/span> 2015 \u5e74\u7684\u4e00\u7bc7\u6587\u7ae0\u4e2d\u5efa\u8bae\uff0c<\/span>SaaS <\/span>\u516c\u53f8\u7684\u589e\u957f\u9700\u8981\u9075\u5faa\u4e00\u4e2a\u6e05\u6670\u7684\u6a21\u5f0f\u3002<\/span><\/span>\n <\/span>\n <\/p>\n

\n \n \u9996\u5148\uff0c\u5efa\u7acb\u4ea7\u54c1\u4e0e\u5e02\u573a\u7684\u5951\u5408\u5ea6<\/span>\n \u3002\u5728\u63a5\u4e0b\u6765\u4e24\u5e74\u7684\u65f6\u95f4\u91cc\uff0c\u4f60\u9700\u8981\u627e\u5230\u4ea7\u54c1\u4e0e\u5e02\u573a\u7684\u5339\u914d\u5ea6\uff08<\/span>PMF\uff09\u3002\u5176\u6b21\uff0c\u5728\u4e00\u5230\u4e24\u5e74\u7684\u65f6\u95f4\u5185\uff0c\u4f7f\u516c\u53f8\u7684 <\/span>ARR <\/span>\u8fbe\u5230 <\/span>200 <\/span>\u4e07\u7f8e\u5143\u3002\u5728\u8fd9\u4e4b\u540e\uff0c\u516c\u53f8\u7684\u53d1\u5c55\u53d8\u5f97\u53ef\u9884\u6d4b\u4e86\uff0c<\/span>Neeraj <\/span>\u63d0\u51fa\u4e86 <\/span>T2D3 <\/span>\u89c4\u5219\uff08<\/span><\/span>\n \u5373\u5728\u63a5\u4e0b\u6765\u7684<\/span>5\u5e74\u91cc\uff0c\u6536\u5165\u4f1a\u5148\u6709<\/span>2<\/span>\u6b21<\/span>3<\/span>\u500d\u901f\u589e\u957f\uff0c\u7136\u540e<\/span>3<\/span>\u6b21<\/span>2<\/span>\u500d\u901f\u589e\u957f<\/span><\/span>\n \uff09\u3002<\/span>\n <\/span>\n <\/p>\n

\n \n <\/p>\n

\n \n \u91cd\u70b9\uff1a\u4f60\u9700\u8981\u5728\u521b\u4e1a\u7684<\/span>\n \u00a06 – 9 \u5e74\u65f6\u95f4\u91cc\uff0c\u4f7f\u516c\u53f8\u7684 <\/span>ARR <\/span>\u7a81\u7834 <\/span>1 <\/span>\u4ebf\u7f8e\u5143\u5927\u5173\u3002<\/span><\/span>\n <\/span>\n <\/p>\n

\n \n \u00a0<\/span>\n Scale Venture Partner \u7684 <\/span>Rory Driscoll <\/span>\u66fe\u8868\u793a\uff0c<\/span><\/span>\n \n \u201c<\/span>\n <\/strong>\n \n \u5bf9\u4e8e\u4e00\u5bb6\u4f18\u79c0\u7684<\/span>\n <\/strong>\n \n \u00a0SaaS <\/span>\n <\/strong>\n \n \u516c\u53f8\u800c\u8a00\uff0c\u4efb\u4f55\u4e00\u5e74\u7684\u589e\u957f\u7387\u90fd\u5e94\u8be5\u662f\u8be5\u516c\u53f8\u524d\u4e00\u5e74\u589e\u957f\u7387\u7684\u00a0<\/span>\n <\/strong>\n \n 82%<\/span>\n <\/strong>\n \n \u201d<\/span>\n <\/strong>\n <\/span>\n <\/p>\n

\n \u7b80\u800c\u8a00\u4e4b\uff1a<\/span>\n <\/p>\n

    \n
  • \n
    \n \n \n ARR\uff1a<\/span>PMF-> $2M -> $6M -> $18M -> $36M -> $72M -> $144M -> $262M -> $438M<\/span><\/span>\n <\/span>\n <\/strong>\n <\/section>\n <\/li>\n
  • \n
    \n \n \n \u589e\u957f\u901f\u5ea6\uff1a<\/span>0% -> 200% -> 200% -> 100% -> 100% -> 100% -> 82% -> 67%<\/span>\n <\/span>\n <\/strong>\n <\/section>\n <\/li>\n <\/ul>\n

    \n \n <\/p>\n

    \n \n 3.\u00a0<\/span>\n \n \u89c4\u6a21\u5229\u6da6\uff1a40% \u7684\u589e\u957f\u7387<\/span>\n <\/strong>\n <\/span>\n <\/h2>\n

    \n \n \u5728\u65e9\u671f\u9636\u6bb5\uff0c\u516c\u53f8\u7684\u5229\u6da6\u5f88\u5c11\uff0c\u751a\u81f3\u6ca1\u6709\u5229\u6da6\u3002\u7136\u800c\uff0c\u4e00\u65e6\u516c\u53f8\u7684<\/span> ARR \u8d85\u8fc7 <\/span>5000 <\/span>\u4e07\u7f8e\u5143\uff0c\u60c5\u51b5\u5c31\u4f1a\u53d1\u751f\u53d8\u5316\u3002<\/span><\/span>\n Brad Feld<\/span>\n \u00a0\u5728<\/span> 2015 \u5e74\u7684\u4e00\u7bc7\u6587\u7ae0\u4e2d\u63d0\u51fa\u4e86\u201c<\/span>40% <\/span>\u6cd5\u5219\u201d\uff0c\u5373\u516c\u53f8\u7684\u589e\u957f\u7387\u4e0e\u5229\u6da6\u7387\u52a0\u8d77\u6765\u5e94\u8be5\u8d85\u8fc7<\/span>\u00a040%\u3002<\/span><\/span>\n <\/span>\n <\/p>\n

    \n \n <\/p>\n

    \n \u5047\u8bbe\u4e00\u5bb6 SaaS \u516c\u53f8\u901a\u8fc7\u4e91\u8fd0\u884c\u5176\u57fa\u7840\u670d\u52a1\uff0c\u90a3\u4e48\u5b83\u7684\u6536\u5165\u4fbf\u7b49\u4e8e EBITDA<\/span>\u3002\u4f46\u6b63\u5982 Feld <\/span>\u6240\u6307\u51fa\u90a3\u6837\uff0c\u5982\u679c\u516c\u53f8\u81ea\u5df1\u642d\u5efa\u670d\u52a1\u5668\uff0c\u90a3\u4e48\u5176\u8fd0\u8425\u6210\u672c\u4f1a\u66f4\u9ad8\u3002<\/span>\n <\/p>\n

    \n \n <\/p>\n

    \n \n 4.\u00a0<\/span>\n \n \u878d\u8d44\uff1a\u79cd\u5b50\u8f6e\u3001A\u8f6e\u3001B\u8f6e\u7b49\u878d\u8d44<\/span>\n <\/strong>\n <\/span>\n <\/h2>\n

    \n \n \u878d\u8d44\u4e5f\u662f\u9075\u5faa\u4e00\u5b9a\u6a21\u5f0f\u7684\u3002\u6839\u636e<\/span> <\/span>\n Chris Janz<\/span>\n \u00a0\u7684\u63a8\u65ad\uff0c\u4e00\u5bb6<\/span> SaaS \u521d\u521b\u516c\u53f8\u7684\u878d\u8d44\u5927\u81f4\u4f1a\u7ecf\u5386\u4ee5\u4e0b\u51e0\u4e2a\u9636\u6bb5\uff1a<\/span><\/span>\n <\/span>\n <\/p>\n

      \n
    • \n
      \n \n \u79cd\u5b50\u8f6e\uff1a<\/span>\n ARR<\/span>\n \u4e3a<\/span>\n 0\u2014\u2014100<\/span>\n \u4e07\u7f8e\u5143\uff0c\u5e74\u589e\u957f\u7387\u4e3a<\/span>\n 0%<\/span>\n <\/span>\n <\/section>\n <\/li>\n
    • \n
      \n A\u8f6e\uff1a<\/span>ARR<\/span>\u4e3a<\/span>1\u2014\u2014150<\/span>\u4e07\u7f8e\u5143\uff0c\u5e74\u589e\u957f\u7387\u4e3a<\/span>200%<\/span>\uff08<\/span>X3<\/span>\uff09<\/span><\/span>\n <\/section>\n <\/li>\n
    • \n
      \n B \u8f6e\uff1a<\/span>ARR<\/span>\u4e3a<\/span>500<\/span>\u4e07\u7f8e\u5143\u53ca\u4ee5\u4e0a\uff0c\u5e74\u589e\u957f\u7387\u4e3a<\/span>150%<\/span>\uff08<\/span>X2.5)<\/span><\/span>\n <\/section>\n <\/li>\n <\/ul>\n

      \n \n <\/p>\n

      \n \u5047\u8bbe\u4e00\u5bb6 SaaS \u521d\u521b\u516c\u53f8\u6bcf\u8fc7 18 <\/span>\u4e2a\u6708\u4fbf\u4f1a\u8fdb\u884c\u4e00\u6b21\u878d\u8d44\uff08\u79cd\u5b50\u8f6e\u3001A<\/span>\u8f6e\u548cB<\/span>\u8f6e\uff09\uff0c\u90a3\u4e48\u5728\u5176 B <\/span>\u8f6e\u4ee5\u540e\uff0c\u516c\u53f8\u7684\u6536\u5165\u589e\u957f\u89c4\u5f8b\u5c31\u4e0d\u600e\u4e48\u660e\u663e\u4e86\u3002<\/span>\n <\/p>\n

      \n \n Janz \u5728\u4ed6\u7684\u6587\u7ae0\u4e2d\u8fd8\u63d0\u5230\u4e86\u5178\u578b\u7684\u4f30\u503c\u548c\u8f6e\u6b21\uff0c\u6240\u4ee5\u6211\u4eec\u80fd\u591f\u901a\u8fc7\u4ed6\u7684\u6587\u7ae0<\/span><\/span>\n \u4e86\u89e3\u5230<\/span>\n \u5728\u79cd\u5b50\u8f6e\u878d\u8d44<\/span> 1000 \u4e07\u7f8e\u5143\u6781\u4e3a<\/span><\/span>\n \u56f0\u96be\u3002\uff08\u5f53\u7136\uff0c\u4ed6\u7684\u5224\u65ad\u4e5f\u53ef\u80fd\u662f\u9519\u7684\uff09\u3002<\/span>\n <\/span>\n <\/p>\n

      \n \n <\/p>\n

      \n \n 5.\u00a0<\/span>\n \n \u9000\u51fa\uff1a\u516c\u53f8\u7684 ARR \u5728 100 \u4e07\u5230 1000 \u4e07\u7f8e\u5143\u4e4b\u95f4\u65f6\u6700\u6709\u53ef\u80fd\u88ab\u5356\u51fa\uff0cARR \u8d85\u8fc7 1 \u4ebf\u7f8e\u5143\u65f6\u4fbf\u4f1a\u542f\u52a8 IPO<\/span>\n <\/strong>\n <\/span>\n <\/h2>\n

      \n \u968f\u7740\u516c\u53f8\u7684\u4e0d\u65ad\u6210\u957f\uff0c\u4f60\u53ef\u80fd\u4f1a\u8fce\u6765\u5c06\u5176\u51fa\u552e\u7684\u673a\u4f1a\u3002<\/span>\n <\/p>\n

      \n \n \u4e5f\u8bb8\u662f\u88ab\u67d0\u4e2a\u5b9e\u529b\u96c4\u539a\u7684\u7ade\u4e89\u5bf9\u624b\u6536\u8d2d\uff0c\u4ee5\u6b64\u6269\u5927\u5176\u5e02\u573a\uff08<\/span>Hired \u548c <\/span>Match.com <\/span>\u4fbf\u662f\u5178\u578b\u6848\u4f8b\uff09<\/span><\/span>\n \uff0c<\/span>\n \u6216\u8005\u5f53\u67d0\u5bb6\u5927\u578b\u4f01\u4e1a\u770b\u5230\u4f60\u7684\u4ea7\u54c1<\/span> \/ \u5ba2\u6237\u548c\u5176\u81ea\u8eab\u7684\u53d1\u5c55\u6218\u7565\u76f8\u5951\u5408\uff0c\u90a3\u4e48\u4f60\u4e5f\u6709\u53ef\u80fd\u4f1a\u88ab\u6536\u8d2d\uff08\u5982 <\/span>GM <\/span>\u6536\u8d2d\u81ea\u52a8\u9a7e\u9a76\u516c\u53f8 <\/span>Cruise<\/span>\u3001<\/span>Microsoft <\/span>\u6536\u8d2d <\/span>LinkedIn<\/span>\uff09\u3002<\/span><\/span>\n <\/span>\n <\/p>\n

      \n \u4f46\u662f\uff0c\u8fd9\u4e9b\u60c5\u51b5\u5728\u516c\u53f8\u53d1\u5c55\u7684\u5404\u4e2a\u9636\u6bb5\u6240\u53d1\u751f\u7684\u6982\u7387\u5e76\u4e0d\u662f\u4e00\u6837\u7684\u3002Jason Lemkin \u8ba4\u4e3a\u6536\u8d2d\u4e00\u822c\u4f1a\u53d1\u751f\u5728\u4ee5\u4e0b\u4e24\u4e2a\u9636\u6bb5\uff1a<\/span>\n <\/p>\n

        \n
      • \n
        \n \n \n ARR<\/span>\n \u8fbe <\/span>\n 100<\/span>\n \u00a0<\/span>\n \u4e07\u7f8e\u5143\uff0c\u516c\u53f8<\/span>\n \u4fbf\u5b9c\u4e14\u53c8\u5904\u4e8e\u70ed\u95e8\u9886\u57df\u3002<\/span>\n <\/span>\n <\/strong>\n <\/section>\n <\/li>\n
      • \n
        \n \n \n ARR<\/span>\n \u00a0<\/span>\n \u5728<\/span>\n \u00a0<\/span>\n 1000<\/span>\n \u00a0<\/span>\n \u4e07\u7f8e\u5143\u5230<\/span>\n \u00a0<\/span>\n 1<\/span>\n \u00a0<\/span>\n \u4ebf\u7f8e\u5143\u4e4b\u95f4\uff0c\u516c\u53f8<\/span>\n \u5bf9\u5927\u516c\u53f8\u6765\u8bf4\u610f\u4e49\u975e\u51e1\uff0c\u5e76\u4e14\u5176\u51fa\u552e\u7684\u4ef7\u683c\u4e5f\u80fd\u88ab\u5927\u516c\u53f8\u6240\u8ba4\u540c\u3002<\/span>\n <\/span>\n <\/strong>\n <\/section>\n <\/li>\n <\/ul>\n

        \n \n <\/p>\n

        \n \u56e0\u6b64\uff0c\u5982\u679c\u4f60\u8ba4\u4e3a\u516c\u53f8\u65e0\u6cd5\u6210\u957f\u81f3\u4e0b\u4e00\u4e2a\u9636\u6bb5\u65f6\uff0c\u5728\u6070\u5f53\u7684\u65f6\u5019\u4ee5\u6700\u9ad8\u4ef7\u8fdb\u884c\u51fa\u552e\u4e5f\u8bb8\u662f\u4e00\u4e2a\u5f88\u597d\u7684\u9009\u62e9\u3002<\/span>\n <\/p>\n

        \n \n \u5982\u679c\u60f3\u8981\u516c\u53f8\u505a\u5927\uff0c\u90a3\u5c31\u9700\u8981\u5f80<\/span> IPO \u7684\u9053\u8def\u52aa\u529b\u3002\u4f46\u662f <\/span>SaaS <\/span>\u516c\u53f8\u53c8\u8be5\u5982\u4f55\u5b9e\u73b0 <\/span>IPO <\/span>\u5462\uff1f\u6210\u529f <\/span>IPO <\/span>\u7684\u516c\u53f8\u90fd\u4f1a\u9075\u5faa <\/span>O’Driscoll <\/span>\u63d0\u51fa\u7684\u201c\u95e8\u591a\u8428\u7ebf\uff08<\/span>Mendoza line<\/span>\uff09\u201d<\/span><\/span>\n \uff08\u5982\u4e0b\u56fe\uff09\uff0c<\/span>\n X\u8f74\u4e3a<\/span>ARR<\/span>\uff0c<\/span>Y<\/span>\u8f74\u4e3a<\/span><\/span>\n \u6536\u5165\u589e\u957f\u7387\u3002<\/span>\n \u00a0<\/span>\n <\/span>\n <\/p>\n

        \n \n <\/p>\n

        \n \u7b80\u800c\u8a00\u4e4b\uff0c\u4ee5\u4e0b\u662f\u516c\u53f8\u4e0a\u5e02\u4e4b\u524d\u6240\u9700\u8981\u8fbe\u5230\u7684\u6307\u6807\uff1a<\/span>\n <\/p>\n

          \n
        • \n
          \n \n \n 1\u4ebf\u7f8e\u5143<\/span>ARR<\/span><\/span>\n <\/strong>\n <\/span>\n <\/section>\n <\/li>\n
        • \n
          \n \n \n 25%\u7684<\/span><\/span>\n <\/strong>\n \n \u672a\u6765<\/span>\n <\/strong>\n \n \u589e\u957f\u7387<\/span>\n <\/strong>\n <\/span>\n <\/section>\n <\/li>\n <\/ul>\n

          \n \u867d\u7136\u8fd9\u4e24\u4e2a\u6307\u6807\u88ab\u4f5c\u8005\u79f0\u4e3a\u201cIPO <\/span>\u7684\u6700\u4f4e\u95e8\u69db\u201d\uff0c\u4f46\u5374\u5f88\u96be\u8fbe\u5230\u3002\u8fd9\u4e5f\u662f\u4e3a\u4ec0\u4e48\u5728\u8fc7\u53bb 5 <\/span>\u5e74\u7684\u65f6\u95f4\u91cc\uff0c\u5e73\u5747\u6bcf\u5e74\u53ea\u6709 21 <\/span>\u5bb6\u79d1\u6280\u516c\u53f8\u6210\u529f\u4e0a\u5e02\u3002<\/span>\n <\/p>\n

          \n \n <\/p>\n

          \n \n \n 6. \u9500\u552e\u989d\uff1a1\u4ebf\u7f8e\u5143ARR = ARPA * \u5ba2\u6237\u6570\u91cf<\/span>\n <\/strong>\n <\/span>\n <\/h2>\n

          \n \u5982\u679c\u4f60\u7684\u516c\u53f8\u60f3\u8981\u4e0a\u5e02\uff0c\u90a3\u4e48\u4f60 ARR \u7684\u76ee\u6807\u4fbf\u662f 1 <\/span>\u4ebf\u7f8e\u5143\u3002ARPA<\/span>\uff08\u6bcf\u4e2a\u7528\u6237\u5e26\u6765\u7684\u5e73\u5747\u6536\u5165\uff09\u901a\u5e38\u662f\u4e00\u4e2a\u5e38\u6570\uff0c\u6211\u4eec\u53ef\u4ee5\u6839\u636e Chris Janz <\/span>\u7684\u56fe\u8868\u8ba1\u7b97\u51fa 1 <\/span>\u4ebf\u7f8e\u5143 ARR <\/span>\u6240\u9700\u7684\u5ba2\u6237\u6570\u91cf\u3002<\/span>\n <\/p>\n

          \n \u5f53 ARPA \u4e3a 1000 <\/span>\u4e07\u7f8e\u5143\u65f6\uff0c\u4f60\u53ea\u9700 10 <\/span>\u4e2a\u5ba2\u6237\u4fbf\u80fd\u8003\u8651\u542f\u52a8 IPO<\/span>\u3002\u5f53 ARPA <\/span>\u4e3a 100 <\/span>\u4e07\u7f8e\u5143\u65f6\uff0c\u4f60\u9700\u8981 100 <\/span>\u4e2a\u5ba2\u6237\u624d\u80fd IPO<\/span>\u3002\u5f53 ARPA <\/span>\u4e3a 100 <\/span>\u7f8e\u5143\u65f6\uff0c\u516c\u53f8\u60f3\u8981 IPO <\/span>\u7684\u8bdd\u5219\u9700\u8981 100 <\/span>\u4e07\u4e2a\u5ba2\u6237\u3002<\/span>\n <\/p>\n

          \n \n <\/p>\n

          \n \n \u5982\u679c\u4f60\u7684\u516c\u53f8\u7c7b\u4f3c\u5efa\u7ad9\u5e73\u53f0<\/span>\n \u00a0<\/span>\n Wix<\/span>\n \u3001\u7ebf\u4e0a\u8c03\u67e5\u95ee\u5377\u7684\u516c\u53f8\u00a0<\/span>\n Typeform<\/span>\n \u3001\u534f\u540c\u529e\u516c\u5de5\u5177<\/span>\n Evernote<\/span>\n \u00a0<\/span>\n \u6216\u7535\u5b50\u90ae\u4ef6\u8425\u9500\u5e73\u53f0<\/span>\n \u00a0<\/span>\n Mailchimp<\/span>\n \u00a0<\/span>\n \u90a3\u6837\uff0c<\/span>\n \u9488\u5bf9\u7684\u662f\u00a0<\/span>\u201c\u4ea7\u6d88\u8005\uff08prosumers<\/span>\uff09\u201d \u5e02\u573a\uff0c\u5e76\u4e14\u5e73\u5747\u6bcf\u5e74\u5411\u6bcf\u4f4d\u5ba2\u6237\u6536\u53d6<\/span>100<\/span>\u7f8e\u5143\u7684\u8d39\u7528\u3002<\/span><\/span>\n <\/span>\n <\/p>\n

          \n \n \n \u5982\u679c\u516c\u53f8\u60f3\u8981\u6210\u529f <\/span>\n IPO<\/span>\n \uff0c\u5219\u81f3\u5c11\u9700\u8981 <\/span>\n 100 <\/span>\n \u4e07\u540d\u4ed8\u8d39\u5ba2\u6237<\/span>\n <\/span>\n \uff0c<\/span>\n \u5e76\u4e14\u5728\u63a5\u4e0b\u53bb\u7684\u4e00\u5e74\u91cc\uff0c\u8fd8\u8981\u518d\u589e\u52a0<\/span> 25 \u4e07\u540d\u4ed8\u8d39\u7528\u6237\u3002<\/span><\/span>\n <\/span>\n <\/p>\n

          \n \n <\/p>\n

          \n \u8fd9\u4f3c\u4e4e\u770b\u8d77\u6765\u662f\u53ef\u884c\u7684\uff1f\u90a3\u6211\u4eec\u6765\u770b\u770b\u6210\u7acb\u8fd9\u6837\u7684\u516c\u53f8\u9700\u8981\u591a\u5c11\u4eba\u3002<\/span>\n <\/p>\n

          \n \n \n 7. <\/span>\n <\/strong>\n \n \u5458\u5de5\u60c5\u51b5\uff1a\u5e73\u5747\u6bcf\u4f4d\u5458\u5de5\u7684\u5e74\u6536\u5165\u4e3a20\u4e07\u7f8e\u5143<\/span>\n <\/strong>\n <\/span>\n <\/h2>\n

          \n \u968f\u7740\u516c\u53f8\u7684\u4e0d\u65ad\u53d1\u5c55\uff0c\u5176\u5458\u5de5\u6570\u4e5f\u4f1a\u4e0d\u65ad\u589e\u52a0\u3002<\/span>\n <\/p>\n

          \n \n \n \u6765\u81ea<\/span>\n <\/strong>\n \n \u00a0<\/span>\n <\/strong>\n \n RedPoint<\/span>\n <\/strong>\n \n \u00a0<\/span>\n <\/strong>\n \n \u7684\u00a0<\/span>\n <\/strong>\n \n Tom <\/span>\n <\/strong>\n \n Tunguz<\/span>\n <\/strong>\n \n \u00a0<\/span>\n <\/strong>\n \n \u7814\u7a76\u53d1\u73b0\uff0c<\/span>\n <\/strong>\n \n \u5728\u76f8\u5bf9\u6210\u719f\u7684<\/span>\n <\/strong>\n \n \u00a0SaaS <\/span>\n <\/strong>\n \n \u516c\u53f8\u4e2d\uff0c\u6bcf\u4f4d\u5458\u5de5\u7684\u5e73\u5747\u5e74\u6536\u5165\u4e3a<\/span>\n <\/strong>\n \n \u00a020 <\/span>\n <\/strong>\n \n \u4e07\u7f8e\u5143\u3002<\/span>\n <\/strong>\n <\/span>\n \n <\/p>\n

          \n \n \u8bda\u7136\uff0c\u8fd9\u662f<\/span> 2012 \u5e74\u7684\u6570\u636e\uff0c\u5e76\u4e14\u6570\u636e\u53ea\u56ca\u62ec\u4e86\u76f8\u5bf9\u6210\u719f\u7684\u5927\u516c\u53f8\uff0c\u56e0\u6b64\u4f1a\u5177\u6709\u4e00\u5b9a\u5c40\u9650\u6027\u3002\u540c\u65f6\uff0c\u6ca1\u6709\u4e00\u5bb6\u521d\u521b\u516c\u53f8\u4f1a\u4e25\u683c\u9075\u5faa\u8fd9\u4e00\u8def\u7ebf\uff0c\u76f8\u53cd\u7684\u6848\u4f8b\u6bd4\u6bd4\u7686\u662f\uff0c\u4f46\u662f\uff0c\u6211\u4eec\u5e0c\u671b\u6211\u4eec\u7684\u6846\u67b6\u662f\u6709\u7528\u7684\uff0c\u6211\u4eec\u5e0c\u671b\u6211\u4eec\u7684 <\/span>SaaS <\/span><\/span>\n \u00a0<\/span>\n IPO \u8def\u7ebf\u56fe\u80fd\u591f<\/span><\/span>\n \u4e3a<\/span>\n \u6b63\u5728\u8fdb\u884c<\/span>SaaS\u9886\u57df\u521b\u4e1a\u7684\u4eba\u6709\u4e00\u5b9a\u5e2e\u52a9\u3002<\/span><\/span>\n <\/span>\n <\/p>\n

          \n \n <\/p>\n

          \n \n \n \n *\u4ee5\u4e0a\u5185\u5bb9\u7ffb\u8bd1\u81eahttps:\/\/www.stephnass.com\/blog\/saas-ipo-roadmap<\/span>\n \uff0c<\/span>\n \u5982\u9700\u539f\u6587\u8bf7\u4e0e\u6211\u4eec\u8054\u7cfb\u3002<\/span>\n <\/span>\n <\/em>\n <\/span>\n <\/p>\n

          \n \n <\/p>\n

          \n \u6211\u4eec\u662f\u4ee5\u7b2c\u4e00\u6027\u539f\u7406\u7814\u7a76\u4e3a\u57fa\u7840\u7684\u4e13\u4e1a\u673a\u6784,\u6b22\u8fce\u5173\u6ce8\u548c\u7559\u8a00\u3002<\/span>\n <\/p>\n

          \n \u5fae\u4fe1\u53f7: Alexqjl<\/span>\n <\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

          \u5728\u8fc7\u53bb\u7684\u51e0\u5e74\u4e2d\uff0c\u4e16\u754c\u4e0a\u6700\u4f18\u79c0\u7684\u521b\u4e1a\u8005\u548c\u6295\u8d44\u4eba\u90fd\u53d1\u5e03\u4e86\u6781\u5177\u4ef7\u503c\u7684\u5173\u4e8e SaaS \u521b\u4e1a\u7684\u6587\u7ae0\u3002Christoph […]<\/p>\n","protected":false},"author":1,"featured_media":1843,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"_links":{"self":[{"href":"http:\/\/blog.cloud500.ai\/index.php?rest_route=\/wp\/v2\/posts\/255"}],"collection":[{"href":"http:\/\/blog.cloud500.ai\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/blog.cloud500.ai\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/blog.cloud500.ai\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/blog.cloud500.ai\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=255"}],"version-history":[{"count":1,"href":"http:\/\/blog.cloud500.ai\/index.php?rest_route=\/wp\/v2\/posts\/255\/revisions"}],"predecessor-version":[{"id":349,"href":"http:\/\/blog.cloud500.ai\/index.php?rest_route=\/wp\/v2\/posts\/255\/revisions\/349"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/blog.cloud500.ai\/index.php?rest_route=\/wp\/v2\/media\/1843"}],"wp:attachment":[{"href":"http:\/\/blog.cloud500.ai\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.cloud500.ai\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=255"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.cloud500.ai\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}