The fastest growers were trFor an IPO, revenue should generally be $100mm+. Only 8 companies had revenue below $100mm at the time of IPO. BackBlaze was the lowest ($54mm), although we’d note that is a very well run company.
Slow growth is allowed if you’re big. You can grow slowly and still go public. SurveyMonkey grew only 6%, McAfee grew only 9%, Informatica was 1%, and ON24 grew 8%. Granted, the revenue of these businesses is sufficiently large, and their revenue multiples are quite low relative to peers.
Comparison to privates. Is it fair to compare public IPO to private M&A exits? Not really, but public data is the most transparent and honest data available. We also see similar dynamics in venture: respectable exits happen when sufficiently large companies ($8mm+ of ARR) are growing 30%+ YOY.
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