I am getting offers from Forge to buy big blocks of ThoughtSpot stock at around $6. Does this company have any future. It's a 15 year old startup and seems to be dying. But may be they have captive customers so can cash flow for a while so $6 may be good value. any chance of IPO or turnaround #thoughtspot #startup #equity
Second that AI has all but killed this business model. 0 within 2 years max.
GenAI pretty much killed it.
It’s everywhere bruh.. chat.openai.com no google.com anymore
I don't think that's the primary cause of death. Though it could be the last straw. For the last few years, culture and talent management went down the drain, product updated at snail pace, and customer churn remained high. All of these hampered the company's ability to innovate. And when you can't innovate and keep customers, it's a death sentence in SaaS.
I can confirm it is dying! ARR is going flat and also customer churn is high. Other startups have ~30% premium , whereas thoughtspot is dying . They may IPO for the sake of it and make some money or get acquired
What’s the revenue, growth rate, and net profit? If no one knows even after 15 years then it’s real bad and it’s likely another scam.
They do share it - I won't share the numbers here . No profit- its far away. Cash available till 2025/26 . Growth rate is in late 10s
Heard this tune many times. We have revenue we are growing but won’t share numbers.
The pace at which AI will kill these data processing companies is astonishing. If they aren’t profitable its value is 0. It’s dead already, they just don’t know it yet.
Now it's at $4. Here is the message from Forge. Specifically, I wanted to reach out to you with regards to the sell inquiry you submitted in ThoughtSpot. We are trading ThoughtSpot at $4/share ($3.75/share net to seller after one time forge fee) and have a buyer looking for 50k shares. I wonder who is buying
There are people who will buy bankrupt companies as well. Who knows! Maybe some acquisition chances
No one’s stopping you bidding 1$ on forge. If there was a 4$ transaction then I hear you
Hope you sold at 6. At this point, sellers' are listing at 4-5 bucks and no one is buying
I don't understand the statement thay GenAI will kill ThoughtSpot. Like how? Do you folks even know what ThoughtSpot does? ThoughtSpot is like a fancy Tableau. Tableau couldn't do a good job moving to cloud. ThoughtSpot cloud took that opportunity. Some background about 15 year journey. It started as a Database company. But no one wanted another On Premise Key Value store. But they noticed that people loved their Dashboard application. So they migrated to cloud and became like Tableau for cloud. Something like Looker but Google is not serious about selling it. The real ThoughtSpot is only 2-3 years old and is doing really well. It faces no such threat from GenAI. It's like saying GenAI will eat up Database business. Lol
“Google is not serious about selling it” is quite incorrect.
It's actually pretty correct. ThoughtSpot is relatively simple software, AWS could have easily cloned it and taken over market. But Google, AWS, Snowflake really don't want to get into business of supporting other DBs. That's why Google went cool in their efforts to push Looker. While TS is aggressively going after Tableau market.
Snowflake is building their own BI tool and have been actively recruiting. BI is one of the top workload drivers for cloud. Expect to see some market shifts in the next 2 years hyper-fueled by the AI race.
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It should have IPOed early now with AI upcoming it is a dying product. Should go to 0 soon