|The big idea|
Stripe just became Silicon Valley’s most precious gem
Patrick and John Collison have got the luck of the Irish.
Stripe — the Irish brothers’ digital payments brainchild — has reportedly raised $600m at a $95B valuation, making it the most valuable private company ever to come out of Silicon Valley.
Here’s why: It’s the platform other platforms use to process money
Some 90% of US adults have bought from companies that use Stripe.
The company counts Amazon, Salesforce, Microsoft, Shopify, Uber, and Zoom among its customers — and at least 50 of these customers process $1B+ on Stripe annually.
In 2020, the company signed up 200k+ new European customers and handled 5k requests per second.
All this success is a boon for Ireland
CEO Patrick Collison, still just 32, was especially proud of a $50m investment in Stripe from Ireland’s National Treasury Management Agency.
But Stripe didn’t even need the funding…
… “It will just sit on the balance sheet” as a “rainy day fund,” according to Mike Moritz, partner at Sequoia and a Stripe board member.
Stripe, whose mission is to increase the GDP of the internet, sees a wide-open road ahead, with just 14% of commerce happening online today, up from 10% a year ago.
Stripe’s already done well at achieving that mission: The company has greater payment volume today than the entire ecommerce market when it was founded a decade ago.
Patrick and John, the next round of Guinness is on you.
|In the cloud|
After a pandemic boom, cloud companies are now collectively worth $2T
Cloud companies are en fuego right now.
In its latest State of the Cloud report, Bessemer Venture Partners (BVP) relayed stats on how well cloud-based software firms have fared during the pandemic:
Looking to 2021…
… here are BVP’s top cloud industry predictions:
Another key prediction is the rise of “vertical SAAS,” which is an A to Z solution for a single industry (e.g., how Squire provides all the tools a barbershop needs).
Cloud is the new growth engine
Prior to 2020, the major growth engine for the stock market had been FAANG stocks (Facebook, Amazon, Apple, Netflix, Google), heralded as the vanguard of the “new economy.”
BVP finds that a similar portfolio of cloud-focused stocks — hilariously dubbed MT SAAS (Micorosft, Twilio, Salesforce, Amazon, Adobe, Shopify) — outperformed FAANG by more than 3x in the last 4 years.
In case that wasn’t impressive enough, BVP created a chart which literally has a mountain in the background as a nod to their new acronym (MT SAAS):
So literal (Source: Bessemer Venture Partners)
How a mission to Mars will help your business thrive on Earth
*No rocket ships required*
Adam Seltzner, Chief Engineer of the Mars 2020 mission, faced “workplace challenges” of interstellar magnitude even before the pandemic.
Hailed as writing “the best leadership book of the year” called The Right Kind of Crazy, about the Curiosity rover landing, Adam developed out-of-this-world methods to spark curiosity and passion in his team.
Need some of that proverbial rocket fuel for your remote teams?
Attend his keynote at Tomorrow’s Remote Worker, an event designed to tackle the biggest issues in today’s fully-remote landscape.
Help Devices for Kids by reserving your spot for the April 21st event here.
|Save me a spot →|
|Tweet of the day|
Source: Twitter / @Tocelot
The gamification of all apps. Jon Lai, a partner at the VC firm Andreessen Horowitz, dropped an interesting Twitter thread showing how leading consumer, enterprise, and fintech firms have embraced “gamification,” including:
The table above breaks down well-known apps that are actively “gamifying” their products.
A $16B industry with 80% of the market unclaimed…
In this week’s Trends newsletter, we covered a $16B industry brimming with opportunity for newcomers:
Our analysts found that e-waste (electronic) recycling is growing at 9% YoY.
Several mid-sized players in the e-waste industry clear $10M-50M/year, but more than 80% of e-waste goes unclaimed each year.
In short, there is a ton of opportunity for newcomers to the space to come and claim a huge portion of the market.
And we put together a report walking you through exactly how to execute.
When you read through the report, you’ll learn:
- Where to start, and how to unlock the untapped supply in the e-waste industry
- How to differentiate your business from existing competitors and niches you can get started on claiming this weekend
- Exactly how the biggest players (including some members in the Trends community) went from 0-$10M, and how to duplicate their strategies
- And much more.
If you’re not already a member of Trends, sign up today for a free trial to get access to the full report
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