(NOT MongoDB) - The startup I work at missed Q3 quota attainment in a pretty bad way. A few days later they announced that license pricing is going from ~$50k/yr to $100k w/ mandatory support contracts (10% contract size uplift).. The product is a self managed IT tool. Lots of competition, and most competitors range between $20k-$30k/ yr. IMO we should be acting as price takers, not setters, as competition is high and differentiation is fairly low. Am I wrong in thinking this screams desperation, and/or is generally a big red flag? My hunch is leadership is panicking about not being able to raise another round of capital in 2023 with the #s the way they are now. Another bad quarter would constitute a trend, so they are hoping to juice revenues inorganically via the renewal base. #startup #software
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They definitely seem to be trying to extend the runway (hoping for an acquisition) instead of trying to “win” in the market.