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:
… 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).
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):