The Minutes of Bill Gurley on saas https://minutesof.com/bill-gurley/on/saas/ Everything Bill Gurley has said on saas: 5 verbatim quotes between March 2012 and May 2022, each with a timestamp and a link to the recording it came from. en Sun, 30 Aug 2026 16:22:01 +0000 Gurley criticizes price-to-revenue multiples as the crudest possible valuation tool for evaluating companies. https://minutesof.com/q/97ef2aba-7191-44d0-8ab6-f8fa9c7a9df8/ https://minutesof.com/q/97ef2aba-7191-44d0-8ab6-f8fa9c7a9df8/ “price to revenue is like this really crude valuation tool, it's like the crudest you could possibly have.” — All-In Podcast Mon, 23 May 2022 05:10:20 +0000 saas Gurley lists specific new scrutiny metrics buyers now apply to SaaS companies beyond crude price-to-revenue mu https://minutesof.com/q/40e6f4aa-d7b0-4899-8bcf-9546b1260b89/ https://minutesof.com/q/40e6f4aa-d7b0-4899-8bcf-9546b1260b89/ “what really values companies, you know, it's typically a discounted cash flows and so now all of a sudden the buy side's asking SaaS companies about net dollar retention, about long term operating margin, about whether their free cash flow is greater or less than their net income, about SBC as a percentage of free cash flow.” — All-In Podcast Mon, 23 May 2022 05:10:20 +0000 saas And so what really values companies, you know, it's typically a discounted cash flows. And so now all of a sud https://minutesof.com/q/c0036f3a-cf91-49ec-82e1-e592fc3f1c9f/ https://minutesof.com/q/c0036f3a-cf91-49ec-82e1-e592fc3f1c9f/ “And so what really values companies, you know, it's typically a discounted cash flows. And so now all of a sudden, the buy side's asking SaaS companies about net dollar retention, about long term operating margin, about whether their free cash flow is greater or less than their net income, about SBC as a percentage of free cash” — All-In Podcast Mon, 23 May 2022 04:51:01 +0000 saas Gurley cites twelve-year bull run and extreme SaaS multiples as major IPO incentives. https://minutesof.com/q/98a81965-4579-4224-bbf8-c90f072e0373/ https://minutesof.com/q/98a81965-4579-4224-bbf8-c90f072e0373/ “Add into that a roaring, screaming public market that's been on a bull run for, what, twelve years? And multiples in the public markets, especially in, the SaaS world that are out of this world.” — Axios Wed, 18 Aug 2021 17:10:45 +0000 saas Gurley explains why targeting sales instead of HR made Salesforce wildly more successful than their HR SaaS co https://minutesof.com/q/3bcf1ebf-e587-4ada-8508-f356465c2082/ https://minutesof.com/q/3bcf1ebf-e587-4ada-8508-f356465c2082/ “the sales executive has a green light on any purchase in a company. The HR executive does not. They had a product where you could put it on a credit card.” — This Week in Startups Fri, 07 Apr 2017 23:27:51 +0000 saas