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Growth Strategies for SaaS Companies
October 14, 2021 @ 10:00 am - 11:00 am EDT
In 2011, Marc Andreessen explained in the Wall Street Journal “why software is eating the world.” Today, four of the Big 5 tech companies (aka “FAAMG”), namely, Facebook, Amazon, Apple, Microsoft and Alphabet’s Google, have significant SaaS offerings. Together, these five companies are worth more than $9 trillion USD. Here in Canada, Shopify, which offers SaaS-based e-commerce services, became the most valuable Canadian company in 2020.
COVID has accelerated digital transformation for organizations large and small, dramatically increasing demand for cloud-based solutions. SaaS (Software-as-a-Service) solution providers stand to benefit from the windfall of this digital transformation. Looking ahead, the global SaaS market is “… expected to recover and grow at a CAGR of 10% from 2021 and reach $250+ billion in 2023.”
Unfortunately, not all SaaS businesses are created equal. Some went bust rather spectacularly, the most recent example being Quibi. Founded in 2018, Quibi had raised over $1 billion USD in funding and was shut down in Oct 2020, six months after launch.
So why do some SaaS businesses succeed and why others fail? Join this virtual workshop and learn:
- What is a SaaS business and what makes it tick
- How to grow a SaaS business
- How to avoid pitfalls, minimize and mitigate downside risks
*Exclusively for our Certified WBEs and Tools For Growth community
Meet the Speaker
Garry Chan, Advisor, ventureLAB
Garry is a tech entrepreneur, investor and mentor, focused on advising and building early-stage companies. He is a member of the Maple Leaf Angels, as well as a Fintech & SaaS Advisor at ventureLAB. Previously, he was VP, Products at VersaPay, a Toronto-based Fintech company providing payment processing and cloud-based accounts receivable software solutions. For the 15+ years before that, Garry was a founding Managing Partner at Procase Consulting Inc., building the IT professional services company in Canada, the United States, and China. He graduated from the University of Calgary (BSc), Rotman School of Management at the University of Toronto (MBA), and Carnegie Mellon University (MSc).