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

From CNBC
Statistic in SaaS & Tech Growth Strategy

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

26% of SAAS companies with at least $15MM in 2015 GAAP revenue had a revenue growth rate + EBITDA margin of 40% or higher.

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

Only 8% of large companies use internet sales strategies. The proportion of companies relying on internet sales increases as company size decreases

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

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

The median annual contract value (ACV) was $25K, $21K, $21K, $20K in 2016, 2015, 2014 and 2013

In 2019, spending on IT services is expected to amount to 1,016 billion U.S. dollars worldwide

To establish a revenue or lead-commitment based on your funnel metrics and revenue-growth goals, work backward from the gross revenue amount that marketing is responsible for generating (generally around 40%)

The best SaaS companies achieve 5-7% annual revenue churn – equivalent to a loss of $1 out of every $200 each month

Cloud application services (SaaS) to reach $126 billions by the end of 2021

More SaaS & Tech Growth Strategy Stats

The median startup spends 92% of first year revenue on customer acquisition, taking 11-months to payback their Customer Acquisition Cost

Achieving a SaaS Quick Ratio of 4 is a good benchmark for young, high-growth companies but the equation changes as those companies reach scale

The very best SAAS business has a negative churn rate and will have a Dollar Retention Rate of greater than 100%

Revenue Renewal Rate= (MRR up for the renewal at beginning of month- MRR not renewed at the end of month)/ MRR up for renewal at beginning of month)

The metrics that matter for each sales funnel, vary from one company to the next depending on the steps involved in the funnel

It’s 4x cheaper to upsell existing customers than acquire new customers: costing just $0.28 to acquire an additional dollar of revenue

Japanese company Hitachi accounted for three percent of the world’s market for diagnostic imaging in 2017.

How to Reduce Churn

The median TTM revenue growth rate + adj. EBITDA margin for publicly traded SaaS companies was ~37%, implying that just under one half met or exceed “The Rule of 40%”

In 2020, China is expected to generate 55 billion U.S. dollars in the global medical technology market.