47% of millennials want to work at diverse companies, according to a recent study.

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.

More Tech Services Stats

Revenue Churn vs Customer Churn – why are they different?

If the numerator of your quick ratio is growing that means your revenue is growing. It’s important to keep increasing revenue to counter any MRR (Monthly Recurring Revenue) that is lost to churn

The 2015 median revenue growth rate was 44%, while the median projected growth rate for 2016 is 48%

Very few software companies grow beyond $1 billion in revenues

It’s common for startups to grow rapidly, doubling or tripling in size year over year, until they hit $5M in ARR

Publicly-traded SaaS companies have an average Revenue Per Employee of $200,000

Our experiences with SaaS startups indicate that they usually start with a couple of lead generation programs such as Pay Per Click Google Ad-words, radio ads, etc

All types of investment have grown, year-on-year, with the biggest growth during the seed stage of financing

What Levers are available to drive Growth

In many SaaS businesses, sales reps play a key role in closing deals

More Culture Stats

Women in Tech Lagging Behind

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

The lack of workforce diversity and unconscious bias is a systemic problem in Silicon Valley

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

In Silicon Valley, the median male makes 61 percent more than the median female

Six large technology companies in Silicon Valley did not have a single female executive

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

At Facebook, 15 percent of tech roles are staffed by women

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

Only 20% of Tech Jobs are Held by Women