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

The very best SaaS businesses have a negative revenue churn rate and will have a Revenue Retention Rate of greater than 100%

Median annual gross dollar churn was 8%, 7%, 6% and 8% in 2016, 2015, 2014 and 2013

The median SaaS business generates 16% of its new Annual Contract Value (ACV) from upselling to existing customers

In all SaaS businesses there will likely come a moment where they realize that not all customers are created equal

13.7% of sales are online

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

83% of China’s digital shoppers made an online purchase in the past month

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

SaaS, and other recurring revenue businesses are different because the revenue for the service comes over an extended period of time (the customer lifetime)

The average company gets 16% of new ACV sales from up-sells and expansions, though companies with revenue between $10MM-$40MM are relying more heavily on up-sell and expansions

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

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

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

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 Facebook, 15 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

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

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