According to TechSci Research, the global collaboration software market was worth $4.78 billion in 2016. It was estimated to grow 10% annually to $8.96 billion by 2022 driven by the increasing adoption of bring your own device policies at work places. Billion Dollar Unicorn Atlassian (Nasdaq: TEAM) is an established player in the market. Since listing, the company has had a solid run, and why not – it is a rock solid company, always focused on fundamentals!
Sramana Mitra: That’s not a common practice in the US by the way. That is a practice that is more unique to India. Because of the proliferation of micro-VCs , people are starting to think. The other side of the equation of this unicorn mania is that the larger funds are doing very large series C’s and series D’s.
Now the concept of seed-stage, preeseed funds exiting into series C or series D is happening more or at least, coming to the surface. In India, it’s been happening for a while. >>>
Bruce Cleveland, Founding Partner at Wildcat Venture Partners, is one of the early employees at Oracle, as well as a co-founder of Siebel Systems. He is working on a book on The Traction Gap framework that his firm uses in its venture capital practice.
Tech is becoming an oligopoly of a handful of titans dominating the subcategories: Google (Search), Facebook (Social), Amazon (Commerce). Then there is Apple (Device). In Software, the picture is a bit more encouraging with Microsoft, Oracle, SAP, Salesforce.com, IBM, and a whole host of other fast growing SaaS companies still maintaining a healthy competitive dynamic.
Sramana Mitra: Not all of e-commerce has the mobile characteristic. For example, if I want to do fashion shopping, I am absolutely not interested in doing it on my mobile. I want it on my cinema display. I want to have as much information as possible. >>>
Sramana Mitra: At the same time, the cash is tight. How do you put one foot before the other? I saw that in your portfolio, there are some SaaS companies that are related to enterprise HR. What’s the thinking behind that?
Warren Weiss: One is a company called SilkRoad Technology. It’s a mini-Workday for small businesses with as little as 50 people that don’t have access to a full talent management system with a system of records and performance compensation management. It’s simple and easy to use. >>>
After 22 straight quarters or nearly six years of revenue decline, IBM (NYSE: IBM) has finally managed to break this streak. >>>
Sramana Mitra: That actually gives me a segue into my other question. India stupidly fell into the unicorn mania as Silicon Valley did in that period. All this unicorn-chasing valuation and this kind of mania around being an entrepreneur took off.
My original thought was India is a more conservative country. People are frugal. People don’t have this crazy, excess-driven mindset and we’re going to develop a little bit slower. We’re going to develop more sustainably. But boom! In 2014, all that changed. It went exactly the same kind of unproductive destructive way that it went here. >>>