Statistic Info

Silicon Valley may be the world’s leading hotbed of innovation and genius, but it struggles with diversity and unconscious bias. Culture wars at shareholders’ meetings and recent lawsuits against tech titans such as Google and YouTube over its lack of diverse hiring practices highlight the festering problem. Left untreated, this may be the Achilles’ heel that topples the technology industry’s supremacy as an entrepreneurial center of excellence. That’s because having a diverse workforce is a competitive advantage that drives productivity and profits as companies sell their products and services to a broad population.

Lack of diversity in Silicon Valley is an old story. Nineteen years ago civil rights leader Jesse Jackson first launched a campaign to encourage the region’s tech companies to hire black and Latino workers. At the time, he was accused of “terrorism” by Scott McNealy, the co-founder of early Silicon Valley giant Sun Microsystems.

Tech leaders may have changed their tune in the intervening decades — all the top CEOs today loudly proclaim a commitment to “diversity and inclusion” — but in other ways not much has changed in almost two decades. A study released in May by the National Urban League sparked criticism of the tech industry. It revealed that at companies like Uber, Twitter, Google and Facebook, fewer than 3 percent of tech workers identify as black.

CNBC

More Tech Services Stats

As with unit churn, companies with longer contracts (2+ years) tend to report lower annual dollar churn

A 1% increase in pricing strategy yields an average 11% increase in profit

86% of SaaS businesses treat “New Customer Acquisition” as their highest growth priority, both in terms of executive support and funding available

70% Say Presentation Skills Are Critical For Career Success

SAAS companies invest between 80% and 120% of their revenue in sales and marketing in the first 5 years of their existence

In contrast to these, the median annual churn rate for smaller, private SaaS companies with less than $10M in revenue is 20%

At a 35% CAGR, it takes 10 years for a SaaS company to grow from $5M to $100M in ARR

If your Net Revenue Churn is high (above 2% per month) it is an indicator that there is something wrong in your business; which may have a dramatically negative effect on your company’s growth. Source: Mckinsey

Internet sales-driven companies have a much greater reliance on marketing, with 65% of the median company’s CAC budget devoted to marketing

Increases in revenue growth rates drive twice as much market-capitalisation gain as margin improvements for companies with less than $4 billion in revenues

More Culture Stats

in 2016, women-led companies received $1.46 billion in investments from venture capitalists. Male-led companies, on the other hand, received $58.2 billion

Google only has a 30 percent female workforce

The boom in the industry is creating more jobs for techies. Data reveals there were 627,000 unfilled positions in tech in April 2017

At Twitter, 10 percent of tech roles are staffed by women

Women-led companies have historically performed three times better than those with male CEOs

The venture-backed companies that were acquired most often had a 7 percent share of female execs, as opposed to 3 percent at unsuccessful (unacquired) firms

It’s been reported that women who work in computer and mathematical fields earn 80 cents to the dollar that men earn doing the same job

A University of Texas study showed that women ask for $7,000 less than their male counterparts in job interviews

63 percent of the time, women receive lower salary offers than men for the same job at the same company

Women in western countries use the internet 17 percent more than their male counterparts