.@LeviStraussCo is going public at a $3B valuation on $5.6B in revs and $285M in net income. So tell me more about your brand new unicorn consumer brand that is hemorrhaging cash and paying for 100% of its customers... Public markets don’t lie.
Michael B. Gilroy
8,169 posts
- I’m thrilled to announce that I’m joining Coatue as a General Partner where I will continue to invest in founders across FinTech & SaaS. After co-investing w this team twice, I saw firsthand how hard they work for founders. I couldn’t be more excited to work alongside this group.
- 1/ After a decade long venture-fueled run in fintech, we’re in the midst of our most important year yet. We took a hard look at the data across the sector in this whitepaper + deck. coatue.com/blog/perspecti…
- Today we launch @MarathonMP. You will not hear much from us on the fund now, or ever. We believe that the center of our ecosystem are the founders that are building all of the enterprise value — they are the only ones that should be making news. The mission at @MarathonMP is to
- SaaS is in the midst of a generational shift to a bottoms-up GTM. All functions have evolved from CS to product & mktg. The way investors analyze these cos has also changed shifting away from LTV/CAC to cohort payback. Full primer on that change here.
- In 7-10 years I think ~50% of all SaaS companies will also offer financial products.
- If you can't write something with this much passion after leaving your current "job", it's time to reconsider it. Can't wait to see what @ElaineWelteroth does next.
- We’re hoping to incubate another Fintech company inside of Coatue. We can only hope for a team as strong as the @bondfintech family. If you or someone you know wants to join at the very earliest stages of company building shoot me a note mgilroy@coatue
- Financial services are in the midst of a generational transformation. We believe that the biggest growth is still yet to come. My good friend @jackiereses, partner @SaanyaOjha and I wrote about the current and future state of fintech. fintechrevolution.tech
- The consumer & commercial card markets are large beyond comprehension. Annual spend on cards (TPV) in US alone - consumer = ~$5T growing 8% and commercial = ~$1T growing 12%. Virtual card & check conversion assisting commercial growth big time. One of the biggest reasons we loveAmex is losing market share to companies like Ramp that have a better product. Their answer? buy an expense management company for $600 million built by the founder of Concur and his son. Wonder how that will work out...
- Every 3-5 years there's a new crop "innovative" lending cos that are valued like SaaS cos (10x revs) in the private markets until the eventual exit when it it trades like a lending co (1x revs). The multiple compression is happening faster & faster, but the outcome is the same.
- This is a great view of a range of ACVs and LTVs relative to acquisition effort across public SaaS cos. Implied future TAM penetration is a great exercise.
- It was a groundbreaking week for us at @MarathonMP. I got my guy @gokulr to attend a conference! For those of you lucky enough to know him, you know how big this is! Thank you @MorganStanley for the assist.
- I have spent the last 6 months reading any and everything on agentic payments. I have come to the conclusion that it's a big fat zero and peak AI marketing hype. Fintech is dead (again) so tourists can go back home. Non-tourists feel free to proceed...
