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Monday.com Files IPO
- alberth 5y agoTL;DR $161M in 2020 revenue $152M in loses.
- the-dude 5y agoIncluding .com in your company name is hip again.
- warent 5y agoI think it's less to do with hipness and more to do with business realities. For example, perhaps "Monday" is an unenforceable trademark, and/or "Monday" is already a registered business entity.
- staysaasy 5y agoIt also has some mild advantages in terms of auto-generating links to their homepage when referring to the company by name in places like Teams or Slack.
- hrisng 5y ago.com has always been valuable. The problem is that it is very very very hard to get a short, relevant .com domain with a reasonable price tag.
- tayloramurphy 5y agoThe Work OS category is confusing since I was more familiar with WorkOS[0] already. I didn't connect how these were related (which they really aren't). [0] https://workos.com/ https://workos.com/
- tudorizer 5y agoI never understood monday.com, since a ton of similar tools area already popular: Asana, all the ones from Atlassian. Monday.com always seemed to re-label know practices with their own terminology. What am I missing?
- ericcholis 5y agoI think Flexibility, UX and Marketing.
- Bombthecat 5y agoEspecially Marketing
- nicoburns 5y agoI got the impression that most existing tools in this space were quite targeting at software development, whereas was taking that model and bringing it to general project delivery. That's just from the their marketing though. I haven't actually used it.
- city41 5y agoThey marketed the living heck out of it. For a while I couldn't turn around without seeing a Monday.com ad.
- MentallyRetired 5y agoMonday has been stealing from Timelinr (https://timelinr.com https://timelinr.com) for years now. I saw their marketing efforts shoot up around the same time. Looks like it's been paying off for them, but I prefer to support smaller startups, especially when all I need it for is roadmapping.
- have_faith 5y agoFrom comparing both homepages I get the impression that whatever influence Monday took from Timelinr initially they left them behind long ago. The Timelinr landing page could also do with a lot of work but I think it's mostly the tone of voice that doesn't work well with me personally.
- soperj 5y agoI find this weirdly hilarious, because of ad blocking, I'd never heard of this company before this.
- emdowling 5y agoThis is surprising. The company is still growing at a very fast rate, especially in their "whale" segment (customers with ARR over $50k). I'm curious about why they want to take the company public, as VC funding shouldn't be hard to come by with these numbers. The founders have not sold any stock so far in the two secondary sales ($50 million at Series D and $30 million at Series E). Intriguing.
- adam_arthur 5y agoProbably to cash out in the current market hysteria. Though high growth tech has been sliding for a few weeks after bubbling up... If we do get high inflation numbers going forward, valuation multiples for tech will likely contract. A lot of price appreciation in the last few years has been due to expansion of valuation multiples, rather than growth. Though of course, all of these tech companies are growing incredibly fast too. E.g. Apple had a PE of 8 just a few years ago, now it's around 30. Of course, a great business, but share price growth has outpaced real metrics
- throwaway413 5y agoOf course, on a Monday.
- dehrmann 5y agoNot related to the IPO, but has anyone else found Monday.com's branding to be very similar to Slack's? Specifically the logo palette, shape, and typeface. They're so similar it looks like a related brand from the same company.
- res0nat0r 5y agoI think it looks even closer to ClickUp, which is in the same product category too: https://clickup.com/ https://clickup.com/
- dehrmann 5y agoThe typeface is similar, but the ClickUp chevron logo has sharp edges and a gradient fill. Both Slack and Monday.com use solid, primary-ish colors and rounded "pill" rectangles.
- abluecloud 5y agoI used to see their advert come up in certain places and I actually clicked through once to check the footer if they were owned by Slack. Loading the page didn't help because as it's in the similar market sector.
- MentallyRetired 5y agoI always thought it looked like slack as well. probably because of the colors. But then again, all Monday seems to do is take ideas from smaller companies. Look at Timelinr. Monday copied their UI and everything.
- ehnto 5y agoNot to disparge Timlinr, but it's not like either tool was the first project management tool on the block. Everyone and their pet budge has had a crack at a project management tool. I mostly contract and it's not uncommon to see an agency dogfooding their own project management app that they hope to sell as a SaaS.
- tinyhouse 5y agoVery competitive market. So many solutions. ClickUP is the new kid on the block, like Monday they go crazy on marketing. Given they made $58M in Q1 revenue and losses are growing, I wouldn't touch the stock if their market cap is higher than $3B.
- log_n 5y agoMonday.com spent $191 million in marketing to get $161 million in revenue in 2020. Granted they are only spending $1.2 in marketing per dollar in revenue now so they are doing better than the $1.5 per $1 they had last year in 2019. GnA bumped by $40 million and that brings them more in line with the 2019 marketing cost/revenue ratio though so maybe they creatively characterized GnA. If their market cap is above 3 dollars I wouldn't touch the stock.
- tinyhouse 5y agoTrue. I agree with your sentiment and very unlikely touch the stock even if they go much lower than 3B. But sales and marketing expenses is something they can cut down once they reach a certain size. Cost of revenue and R&D expenses seem great.
- encoderer 5y agoSpending 190 million once for customers paying 160 million a year is maybe not a bad deal. Often large saas companies have positive net revenue retention.
- drinkzima 5y ago"Additionally, our Net Dollar Retention rate for all of our customers was 100%, 105% and 107% for the three months ended December 31, 2019 and 2020 and March 31, 2021" Above water, but low for SaaS: https://miro.medium.com/max/1400/1*M7c6_AvmAF0ehB7ebbpAeg.png https://miro.medium.com/max/1400/1*M7c6_AvmAF0ehB7ebbpAeg.pn... Via: https://medium.com/@alexfclayton/saas-ipo-net-dollar-retention-benchmarks-b0444b532632 https://medium.com/@alexfclayton/saas-ipo-net-dollar-retenti...
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- maytc 5y agoJeff Horing via Insights Partners holds 42.7% of the company options... Wow
- andy_ppp 5y agoI tried using Monday.com for a building project I had and the interface become totally unusably slow... no idea if this is fixed but it seems like an issue for a billion dollar company.
- ericlewis 5y agoslow UI is an issue for a billion dollar company? have you ever used Jira?
- maybeiambatman 5y agoI'll do you one better. Have you used Workday?
- edoceo 5y agoOr Salesforce?
- andy_ppp 5y agoFair comment. But when Jira is slow it’s getting stuff off the server that made it slow, the Monday slowness was more like a webpage with loads of ads - it slowed down my whole machine and everything was semi unresponsive.
- Ecstatify 5y agoI bought YouTube premium because I was sick of seeing their stupid adverts.
- atonse 5y agoThat should be in their S-1. "We are a growing lead-gen platform. We have a growing user base of people that are annoyed as hell from our advertisements, so they just pay for subscriptions at other sites to make them go away."
- melomal 5y agoIt's nice to see those Youtube ads paying off....
- callamdelaney 5y agoI get grammarly. It's been years and tens of thousands (probably) of grammarly ads. It's like they'll never work out that I will never, ever, ever need or want their product in a thousand lifetimes.
- orhmeh09 5y agoSorry! This is the absolute best that the world’s highest-paid gaggle of engineers and researchers have been able to come up with in their work on so-called “ad tech.”
- nine_k 5y agoYou are not the target audience. You are a collateral damage. Ad tech targeting is less like a sniper rifle and more like a shotgun: it mostly hits the target, and then some area around it. I suspect that the sniper rifle-type ads, where possible due to deep profiling, would spend less of advertisers' money, but would feel incredibly creepy, lowering their efficacy.
- callamdelaney 5y agoMen between a certain age is a pretty none specific target audience.
- manigandham 5y agoAll these tools sometimes lead to more time spent organizing tasks then actually getting them done.
- nirushiv 5y agoThey’re not for you. They’re for your manager’s manager to get abstract stats reports
- asien 5y ago> They’re for your manager’s manager to get abstract stats reports KPI , the backbone or corporates politics.
- SLWW 5y agoWhich is why I like things like Trello; even that though i take issue with the fact that it has such limited keybindings (read: none useful)
- r-ymond 5y agoOut of curiosity, what are some significant keybindings that you feel Trello is currently missing?
- SLWW 5y agoI can't immediately create a task on a particular list without using the mouse. I would like a keybinding that allows me to say "add to the second list from the left." I would also really be benefited to allow for some default behavior that when i do (using keybindings) add a new item to the second list from the left, that it would just open up the detailed view and automatically allow me to enter the title and simply tab down to the description section to add everything. I love trello, but the amount of clicking i have to do gets annoying.
- deleted 5y ago[deleted]
- wellthisisgreat 5y agoMonday is just plain bad, it's slow, it's not really useful. Looks like a bunch of solutions looking for problems put together in a frenzy
- orliesaurus 5y agoI have some horrible stories about monday.com. Here's one: Moving from Trello to monday.com was the biggest reason why we couldn't deliver in time a iOS project for a client. People were happy to use Trello and it worked fine and suddenly someone pulled the trigger and decided to move us all to monday.com ("We got a good deal y'all !!! ") - so we did and the people in the team HATED it. When 90% of the team decides to update tickets once a week instead of daily, simply because they HATE the tool that tracks tickets, then you know you're in for an unpleasant ride. We're back on Trello now.
- dham 5y agoThat's our team with Jira. It doesn't make sense to update tickets when all the work is done in Github. You basically have to duplicate work. I've been trying to push Zenhub for years.
- orliesaurus 5y agoZenhub is amazing, unfortunately some people don't use Github in our org - but I try to use Zenhub every time I can!
- irskep 5y agoI work at Asana and we just published our open source GitHub integration. GitHub PRs and comments are mapped directly to Asana tasks. We use it internally and I love it. If "Monday/Trello alternative with GitHub integration" is what you're looking for, it might work for you. But I admit it does take some setup, and it would be nice if it were built directly into the product. https://github.com/asana/SGTM https://github.com/asana/SGTM
- ljm 5y agoI worked at one place where we tried to break out of Jira, at least for the internal team. We tried all sorts of things but it all went back to Jira in the end. Jira is better when you have control over your workflow, it fucking sucks when you don't have permissions to tweak for your team. I still hate using it but it is probably the only tool that isn't, in itself, opinionated. Chances are if you hate Jira at work, you're really hating the people who administrate it. As for other tools, the hatred is outsourced.
- grumple 5y agoI use it at my current company. I don’t like it. I don’t like Jira either, but Jira is still far superior and integration with other Atlassian products is really helpful. Linking tickets to one another in Monday is really bad, data gets lost all the time, it’s not good for retaining a record of work.
- qubex 5y agoI worked at a company where Monday was the main interface between the back-office and the B2B clients we serviced. That was about as bad as you can expect.
- nrjames 5y agoThe best task tracking system I've worked with is one that I created in about 30 minutes of thinking through the business domain and then wiring up a blank Airtable base to represent what I needed to know. With kanban, gantt, and table views, it's all I need. Plus, the API is easy to use so I can pull the data down when needed. All of the other systems seem to be 80% solutions and I end up getting really irritated by the 20% they don't cover.
- nine_k 5y agoSo, your Airtable-based solution covers more than 80%? This is impressive, without any irony.
- nrjames 5y agoSure, it covers whatever you want it to cover. The interface is fine. It’s the ability to build your own data model that is what makes it powerful, especially because you can iterate so quickly, even after you’ve started using it.
- bastardoperator 5y agoThis is one of the worst tools I've ever used and we tried hard for a year. Besides the interface being clunky and slow it lets you delete important things on accident with multiple people in our group having fallen victim to it's non intuitive UI. I've never wanted a company or people to fail but the amount of misery this product has brought coworkers and myself, I'm shocked it's in a position to file for IPO.
- yumraj 5y agoWe’d tried it for a little bit for a small 5-6 person team. It was slow as hell. Stopped using it.
- jasfi 5y agoIs there a market for another project management tool? I was considering it, but it seems like a bloated market with too many options if anything.
- hpen 5y agoFree open source nested Kanban https://github.com/hpennington/kanception https://github.com/hpennington/kanception