Veeva Systems (VEEV) took just a touch longer at 6 years and did it with remarkable capital efficiency. Founded 2007. Raised $4m from VCs. IPO in 2013. Opened at $2.4b mkt cap, closed day at $4.5b, $5.6b today.
I just came across their story the other day - really inspiring. I'd love to hear the full story of how they did it. They are in a super specialized market, so I'm guessing that helped.
yes, we are tackling a single vertical, life sciences - with multiple SaaS products. the core vision is the industry cloud.
by being super specialized, the cost of sale is massively lower. no need for an army of sales people. focus is on product and delivery/implementation - once it is proven that your stuff actually works, others take notice in a tightly knit industry.
Great to see both workday and veeva mentioned here, both tri-valley software companies proving that success can come in the Bay Area outside of Silicon Valley and San Fran.
