3% CMGR is 42.6% a year, which is slower than Asanas trailing 12 months of growth (48.74%) and only a bit faster than Smartsheet (36.88%), which are trading at

3% CMGR is 42.6% a year, which is slower than Asanas trailing 12 months of growth (48.74%) and only a bit faster than Smartsheet (36.88%), which are trading at 15.9 and 13.7 projected 2021 revenue respectively. At $38m in ARR that means that at 1.3bn you'd be paying 24x 2021 revenue, which seems a bit expensive compared to Asana (obviously a different product, but similar buyers, market, cost structure, and monetization)