Was contacted by rippling recruiter. I looked at their last funding round, how can a $100M ARR company valuated at $11B? That is about 10x over valued? Am I missing anything?https://www.reuters.com/business/finance/startup-rippling-raises-500-mln-latest-fundraise-after-svb-collapse-2023-03-17/ #rippling
Yeah, weāre overvalued. Weāre also deeply unprofitable, while our competitors have higher ARRs and are profitable
$150m ARR (consider if ARR has grown since) unit within Salesforce is a "good but not great" business unit likely being canned. I understand the 100% growth story but that is really a small amount of revenue at such a valuation. Salesforce is mentioned because it can be a potential buyer but with this valuation, no chance.
There are no buyers for Rippling. Thatās the problem with the ācompound startupā hypothesis that Parker keeps droning on about. Our suite is too difficult to integrate with the flywheel effects of other products. Itās why we have to build everything from scratch and we refuse to engage in M&A. No company will be interested in an acquisition because they canāt use our suite as a flywheel like Salesforce attempted to with Slack.
good insight, I am surprised with the build vs buy strategy also. Although Salesforce never really integrated anything within that well, flywheel is just on their marketing slides. Seems there was some dumb money injected. Do you recommend working for the company itself?
Just wait for the inevitable down-round
Avoid rippling like the plague. I am glad I didnāt take their offer last year. Check the reviews on blind and you will see itās a pip factory with terrible work culture and politics.
I interviewed with them last year. They were ready to offer 500+ for senior. I chose other offers as I didnāt make it past the interview. Back then I didnāt understand start up valuations and was bummed to miss a 500k offer. In hindsight itās not worth more than 250k. Lol. Their valuation is bogus. Run šāāļø
100m arr was an old number.
Our latest funding round values us at around 11B. So, either the investors don't know what they are doing, or, Rolling is really a 11B company or,, preferred shares have provisions that make them a lot more valuable than common shares (beyond what is typical of private companies) and thus our valuation is not truly 11B.
Parker Conrad milking numbers. Consider me shocked
Valuation needs a CRippling