Business Breakdowns
· Ben Hensman
[00:00:00] S1: Yeah, I think there are two that stand out when we reflect on the history of software businesses and not just the journey of Monday. First, the largest businesses in software have been able to broaden the problems that they solve for customers and become really important to them over time, generating the majority of growth from their existing customers as well as scaling new business. But also the most valuable and defensible software businesses have not just built out a multi-product portfolio, they've built a commercial platform around them with services, partners, with developers, with an ecosystem that thrives around the customer, helping to fuel the customer. We've seen that with Microsoft, we've seen that with ServiceNow, we've seen that with Atlassian. Extraordinary businesses that have been through that process. They've all looked slightly different, but they've all had similar traits and we think Monday.com has those traits and is executing really well in balancing the movement through solving those different problems, the movement upmarket into larger and more complex workflows with large customers and then surrounding them with the support and the ecosystem to drive growth over time. The lesson there is that very few companies have been able to make that journey work, been able to execute consistently over that long period of time. And I think that one of the other things that's consistent is taking time to achieve that in the right path, in the right order and not rushing that. We've seen in small business, we've seen businesses like Datadog and Cloudflare make a really impressive jump from again serving small customers in particular with a self-serve approach, moving through to solving those enterprise problems but doing so in a really concerted way. We think Monday's following a similar journey and that it can end up as one of the most exciting and largest opportunities in software over time.
· Matt Reustle, Ben Hensman
[00:00:00] S0: Well Ben, this has been excellent. Very long, detailed and informative discussion. Thank you very much for sharing some of the evolution and getting more into the history as well. It was a pleasure. [00:00:00] S1: Thanks Matt, really appreciate you having me on.