Thoughts on software, AI, and company building, with occasional sneak peeks at P9’s kitchen table.

Summary (80–120 words): The post outlines Point Nine Capital’s practical SaaS stack for running a VC firm and seven workflow tactics. Zendesk is repurposed as a customizable deal-flow system (18,000+ investments logged), complemented by Basecamp for portfolio notes, Honey for intranet content, Slack to cut internal email, Google Docs/Sheets and Dropbox for files, Skype for external calls, Zoom for internal video, and tools like Contentful, Unbounce, Typeform, ChartMogul, 15Five, Mention, Contactually, Qwilr, Recruitee, Buffer, Mailchimp. Hacks include TextExpander snippets, Calendly links, 1Password, a “brevity” desktop email signature, a Typeform -> Zapier -> Zendesk submission pipeline that cut response times to ~1–2 weeks, SizeUp window management, and SaneBox filtering with an auto-responder integrated via Zapier. Search Terms & Synonyms (10–20 total): VC tech stack, venture capital tools, deal flow management, Zendesk dealflow, SaaS stack for VCs, Slack versus email, Typeform and Zapier integration, workflow automation, Calendly scheduling links, text expander snippets, 1Password password manager, SaneBox email filtering, email auto responder, Zoom versus Skype, Contentful CMS, Unbounce landing pages, Recruitee applicant tracking, Basecamp portfolio management, Google Docs Sheets collaboration, Honey intranet

Summary (80–120 words): The post argues that a growing share of SaaS is “non–VC compatible,” driven by easier product development/distribution, broader SaaS adoption, and abundant operator advice. It proposes four SaaS types by ARR: VC-funded; bootstrapped “scaling” >$10M ARR (e.g., Mailchimp, Atlassian); bootstrapped $300k–$10M; and micro SaaS $1k–$300k run by 1–3 people. Many thrive at tens to hundreds of thousands in MRR but won’t reach venture scale due to niche/local TAMs, crowded categories, or “feature-on-platform” positioning. Consequences include a financing gap and growth in debt/cash-flow/crowd funding and studios. A checklist guides founders on VC fit across aspirations (speed vs control) and business traits (capital needs, GTM, differentiation, expandability). Search Terms & Synonyms (10–20 total): bootstrapped SaaS, self-funded SaaS, micro SaaS, non-VC compatible startups, not venture-scale, revenue-based financing (RBF), venture debt, cash-flow financing, crowdfunding for SaaS, feature vs product, niche SaaS, TAM constraints, SMB vs enterprise sales, Salesforce ecosystem, Zapier integrations, ARR vs MRR, founder control vs hypergrowth, alternative startup financing, Point Nine Capital

Summary (80–120 words): The post argues that product management is increasingly central in SaaS due to seven forces: (1) relentless customer focus, continuous onboarding, and public roadmaps; (2) the need for 10x UX to drive viral loops and land‑and‑expand growth (e.g., Asana’s focused redesign); (3) B2C‑level UX expectations in B2B, using models like Google’s HEART framework and the Fogg Behavior Model; (4) brand embedded in product (e.g., Slack) to build trust and differentiation; (5) the rise of designer‑founders (36% of top 25 funded startups, up from 20%), shaping customer‑centric cultures; (6) preserving product integrity amid faster tech cycles via rapid iteration and metrics; and (7) PMs’ cross‑functional ownership, adopting technologies like ML only when they improve outcomes. Search Terms & Synonyms (10–20 total): SaaS product management, product-led growth, self-serve SaaS, low-touch SaaS, user onboarding, continuous onboarding, HEART framework (UX metrics), UX metrics for SaaS, Fogg Behavior Model, viral loops, land and expand, public product roadmap, customer feedback loop, consumer-grade UX in B2B, design-led startups, designer co-founders, developer-led buying, product champions, 10x product differentiation, machine learning in product management

Summary (80–120 words): Point Nine explains its investment in Qwilr by framing proposals as a critical yet under-optimized stage in the sales funnel, where companies focus heavily on landing pages but neglect proposal creation, iteration, and analytics. Qwilr turns proposals into responsive web pages with a block-based editor (akin to Medium/Squarespace/Google Docs), supports embeds, offers secure URLs, and provides recipient analytics, plus integrations for chat (Intercom) and payments (Stripe). The thesis rests on four pillars: document automation (“document 2.0”), UX as a defensible advantage via opinionated design, one-to-many viral distribution effects (Typeform analogy) that can support net negative churn, and the potential to become a sales/marketing CMS and system of record. It also marks Point Nine’s first investment in Australia. Search Terms & Synonyms (10–20 total): Qwilr, Point Nine Capital investment thesis, document automation, proposal automation software, web-based sales proposals, interactive proposal pages, sales enablement platform, proposal analytics and tracking, recipient engagement analytics, block-based document editor, Medium/Squarespace-style documents, Stripe payment collection in proposals, Intercom live chat integration, sales and marketing CMS, system of record for proposals, viral SaaS distribution, net negative churn, conversion rate optimization for proposals, Typeform viral loop, David Skok sales funnel metrics

Summary (80–120 words): Louis Coppey shares a slide-based workshop for early-stage SaaS founders organized into three phases: ideation, first six months, and early scaling. The deck curates practical heuristics and checklists from Point Nine and classic essays: segmenting customers with Christoph Janz’s “animals” framework; calibrating milestones and fundraising via the SaaS Funding Napkin; weighing speed vs. control in founding decisions; validating demand through “do things that don’t scale”; seed-stage pricing rules; selecting a sales model with checklists; recognizing lead-generation patterns; running technical due diligence; “hiring and firing” customers to maintain fit; and tracking core metrics. The post functions as a structured index to these resources through embedded slides and links. Search Terms & Synonyms (10–20 total): early-stage SaaS tips, SaaS ideation, customer segmentation animals framework, SaaS Funding Napkin, speed vs control tradeoff, do things that don’t scale, seed-stage SaaS pricing, usage-based pricing, API-first, sales model selection, self-serve vs sales-led, lead generation for SaaS, technical due diligence checklist, hiring and firing customers, ARR, MRR, churn, CAC, product-market fit, go-to-market strategy

Summary (80–120 words): Explains six SaaS metric frameworks investors use to quickly judge fundraising readiness. Notes benchmarks suit VC-scale SaaS and early-stage volatility. 1) T2D3 revenue growth: triple, triple, then double for three years from ~$1M ARR to ~$100M in 6–7 years. 2) SaaS Quick Ratio = (New+Expansion MRR)/(Churn+Contraction MRR), with >4 strong, 2–4 acceptable, <2 weak. 3) LTV/CAC ≥3 and CAC payback varies by segment. 4) Churn targets by segment; enterprise near 0–0.5% monthly. 5) Rule of 40 for later-stage: growth rate + profit margin ≈ 40%. 6) No universal product metric—define a “North Star,” share retention cohorts and DAU/WAU/MAU. Search Terms & Synonyms (10–20 total): SaaS fundraising metrics, T2D3, triple triple double double double, ARR growth benchmarks, SaaS Quick Ratio, expansion MRR, contraction MRR, churn benchmarks, gross churn, net revenue retention, LTV/CAC ratio, customer acquisition cost, customer lifetime value, CAC payback period, Rule of 40, North Star metric, retention cohorts, DAU/WAU/MAU, sales efficiency, product–market fit

Summary (80–120 words): Christoph Janz argues startups should hire an HR/talent lead earlier than commonly assumed. Recruiting 10 hires can require screening 500–1000 CVs, 100 interviews, multiple follow-ups, reference checks, and compensation negotiations, consuming founder time. A capable HR professional improves sourcing and selection, reduces mis-hires, builds a candidate pipeline, runs a consistent process, strengthens candidate experience and employer brand, and saves agency fees (often 25–33% of salary). HR also handles onboarding, payroll setup, and training to raise team effectiveness. Rule of thumb: bring HR when planning ~10 hires in 12 months, typically between employee 10–20 after achieving product–market fit and a larger seed; example: Front hired recruiter as employee #19. Search Terms & Synonyms (10–20 total): early HR hire, internal recruiter, talent acquisition, people operations, HR generalist, talent manager, in-house recruiting, agency recruiter fees, contingency recruiting, employer branding, candidate experience, structured hiring process, headcount planning, time-to-hire, mis-hire cost, onboarding and training, product–market fit hiring, seed round hiring, startup HR, SaaS recruiting

Summary (80–120 words): Point Nine Capital outlines its investment thesis for Tripaneer, a SaaS-enabled marketplace for multi-day, activity-led travel (e.g., BookYogaRetreats, BookSurfCamps). The post argues that while flights and hotels are digitized, packaged tours and special-interest trips remain largely offline (Dealroom: $55B, ~75% offline) and that wellness tourism offers material upside ($438.6B in 2014; ~$29B addressable slice). Tripaneer provides provider tools, builds proprietary supply, disintermediates agents, and benefits from network effects and long-tail SEO. The model is a performance-based take rate on bookings. The team’s travel expertise and bootstrapped growth with healthy unit economics, plus a differentiated approach versus Evaneos, TourRadar, GetYourGuide, and Airbnb, underpin the thesis. Search Terms & Synonyms (10–20 total): SaaS-enabled marketplace, activity-first travel booking, experiential travel marketplace, multi-day tours platform, special interest tourism, wellness tourism market, packaged tours online, yoga retreats booking, surf camps booking, culinary vacations platform, martial arts training camps, disintermediation of tour operators, two-sided marketplace network effects, proprietary inventory ownership, take rate monetization, unit economics in marketplaces, long-tail SEO, online travel marketplace

Summary (80–120 words): An investor distills 10 lessons for early-stage marketplaces: solve chicken-and-egg by starting in a tight niche with real friction; expect early negative unit economics as CAC improves after liquidity and network effects; sequence marketing from SEO to paid to brand since branding amplifies but doesn’t create liquidity; fundraising bar has risen with proof of growth engine and large market; hire stage-appropriate talent; leverage SaaS/APIs that commoditize the stack; build SaaS-enabled tools for supply; prioritize supply quality vs. quantity by context; anticipate B2B marketplaces as the next wave; and for hyper-local Europe, expansion lacks a silver bullet—mix city launches, acquisitions, or sequential country play. Examples referenced include Deskbookers, food delivery, Airbnb, Uber, Delivery Hero, and BlaBlaCar. Search Terms & Synonyms (10–20 total): early-stage marketplaces, chicken-and-egg problem, marketplace liquidity, liquidity threshold, customer acquisition cost (CAC), unit economics, contribution margin, network effects, SEO strategy, paid acquisition (SEM), brand marketing, SaaS-enabled marketplace, marketplace tech stack, API-based marketplace infrastructure, supply acquisition quality vs quantity, hyperlocal marketplace expansion, European market entry, B2B vertical marketplaces, two-sided platform growth, marketplace fundraising metrics

Summary (80–120 words): The post argues seed-stage SaaS companies should deliberately “hire” only early adopters and be willing to “fire” misaligned customers. It defines early adopters as excited, forgiving, and invested in the startup’s success (paying pilots, short cycles, internal navigation). It suggests sourcing them via networks and communities, avoiding cash-poor peer startups, and targeting companies one stage ahead. For expansion, choose one shift at a time: upmarket (easier) or horizontal to new industries; aim to double customer size iteratively. Use consulting to learn the problem and validate willingness to pay. Reject on-premise deals early due to visibility loss, support burden, pricing risk, and precedent. Drop non-paying “awesome” startups. Search Terms & Synonyms (10–20 total): early adopters SaaS, ideal customer profile (ICP), customer fit vs misfit, disqualifying prospects, firing customers, seed-stage go-to-market, product-market fit, upmarket motion, horizontal expansion, vertical focus, consulting-led product development, do things that don’t scale, on-premise vs cloud SaaS, cloud security objections, pilot pricing and paid pilots, short sales cycles, customer development, reference customers and logos, willingness to pay, startup customers churn

Summary (80–120 words): The post offers three checklists to decide between self-serve, transactional, and enterprise SaaS sales models by testing fit across market size/ACV, team, product, lead generation, sales process, and support. Self-serve (flies/mice) suits ACV ~$1–$1k/year, requires a frictionless, out‑of‑the‑box product, strong viral loop, low-cost high‑volume leads, automated trial-to-pay, and low-touch support. Transactional (rabbits/deer) fits ACV >$3k, supports higher CAC with inside sales, demos, integrations, quantified ROI, annual commitments, and expansion revenue backed by customer success. Enterprise (elephants/whales) targets $100k+/year with long cycles, enterprise readiness (features, SLAs, security), experienced enterprise sales talent, and heavy post‑sale support; most founders shouldn’t start here. Search Terms & Synonyms (10–20 total): SaaS sales models, self-serve SaaS, low-touch sales, product-led growth, viral loop powered by, trial-to-paid conversion, transactional sales, inside sales SaaS, quantified ROI, annual contract value thresholds, land and expand, expansion revenue, customer success and account management, enterprise SaaS sales, enterprise readiness SLAs security, long sales cycles, go-to-market fit, freemium onboarding, sales-assisted PLG, integration with customer stack

Summary (80–120 words): The post outlines 2017 “table stakes” for vertical B2B SaaS. Winning requires deep industry knowledge—if founders lack it, they must hire insiders and learn fast; failures like Beepi show the cost of misunderstanding market specifics. Incumbents and smaller traditional players are adopting software and fighting back, reducing “disrupt the dinosaurs” arbitrage. Copying horizontal SaaS playbooks without adaptation is risky; vertical GTM, workflows, and pricing must reflect sector realities. Horizontal platforms (Salesforce, HubSpot, DocuSign) enable verticalized products and add-ons, offering faster build and distribution; Veeva is a notable example. Expect more self-funded, profitable vertical SaaS due to founder preference, focused tool value, and platform-enabled cost efficiency; DistroKid illustrates this path. Search Terms & Synonyms (10–20 total): vertical SaaS, vertical software, industry-specific software, sector-specific SaaS, domain-specific SaaS, vertical CRM, vertical go-to-market, adapt horizontal playbooks, incumbents digital transformation, legacy software vendors, Salesforce AppExchange, HubSpot ecosystem, DocuSign integrations, platform ecosystem strategy, app marketplace distribution, Veeva on Salesforce, bootstrapped SaaS, self-funded SaaS, profitable niche software, indie SaaS

Summary (80–120 words): At seed stage, pricing’s purpose is validating willingness to pay and unit economics, not optimizing revenue. Back-solve a target price from customer size and CAC to reach viable ARPA and market size; resist cutting price and instead increase delivered value. Start with one plan and a simple, value-correlated metric (e.g., seats) that customers control and recognize. Avoid underpricing due to anchoring; only go very low if virality drives growth (e.g., Slack, Trello). Prefer time-bound trials over freemium: ~98% of free users don’t convert and create support/roadmap drag. Time-limit discounts (e.g., 20% off $1k/mo costs $7.2k over 3 years). Use generous referral incentives to leverage trust. Search Terms & Synonyms (10–20 total): seed-stage SaaS pricing, early-stage pricing strategy, SaaS unit economics, CAC to LTV ratio, customer acquisition cost, lifetime value, ARPA, average revenue per account, pricing tiers, seat-based pricing, value-based pricing, value metric, freemium vs free trial, trial conversion rate, discounting strategy, price anchoring, referral incentives, SMB vs enterprise pricing, usage-based pricing, metered billing

Summary (80–120 words): The post argues B2B software has shifted from limited choice to abundance, creating three challenges: discovery/distribution, usage, and commoditization. Discovery is increasingly controlled by platforms (Salesforce, Slack, HubSpot, Google) via app stores and recommendation features, with aggregators (G2, Capterra, GetApp) and media as secondary channels. Usage pain is addressed both by SOR platforms (SSO, permissions, security vetting, app management) and standalone API/iPaaS tools (Zapier, Segment, mParticle, Okta, Cloudability/Cloudyn) that connect apps, unify data, and manage access/costs. Commoditization weakens UX/UI moats; defensible advantages shift to data, network effects, and AI/ML, with new business models (SaaS-enabled marketplaces, revenue shares). Two scenarios follow: renewed SOR-platform dominance or disruption by workflow apps/API platforms if AI automates data capture and reduces lock-in. Search Terms & Synonyms (10–20 total): systems of record (SOR), workflow apps, SaaS overabundance, software discovery and distribution, app marketplaces for SaaS, Salesforce AppExchange, Slack Apps, HubSpot Marketplace, B2B software aggregators (G2, Capterra, GetApp), usage challenges in SaaS, single sign-on (SSO) and identity management, integration platform as a service (iPaaS), API integration platforms (Zapier, Segment, mParticle), customer data infrastructure, data moats and network effects, SaaS commoditization, platform strategy and third‑party ecosystems, vendor lock‑in and switching costs, freemium SaaS and pricing shifts, AI/ML in SaaS and automated data capture

Summary (80–120 words): This post announces the 2017 update to a collaborative overview of Germany’s startup and venture capital ecosystem by Frontline and Point Nine. The resource maps the landscape and adds: predictions for the next 12 months, refreshed investor overviews, a new section on foreign investors active in Germany, quantitative figures on the funding environment, an overview of corporate VC programs and initiatives, and a shortlist of German startups to watch in 2017. It also improves mobile readability with more visuals and less text. Framed as a living, feedback-driven document, it serves founders and investors assessing participants, capital sources, and near-term trends in Germany’s tech ecosystem. Search Terms & Synonyms (10–20 total): German startup ecosystem, Germany venture capital landscape, German VC investors, foreign investors in Germany startups, corporate venture capital Germany, funding environment Germany 2016–2017, German startups to watch 2017, Berlin startup scene, Germany seed and Series A funding, Point Nine Capital Germany report, Frontline Ventures Germany, ecosystem map Germany tech, market map German startups, VC landscape infographic Germany, investor directory Germany, startup predictions 2017 Germany, Germany tech investment trends, international VC activity Germany

Summary (80–120 words): The post argues 2017 will temper hype and outlines five prediction clusters. Security: pervasive breaches, increased private cybersecurity spend, and intensifying regulator conflicts over data privacy. Blockchain: bitcoin rises despite unclear drivers; many projects die; deep-infrastructure uses (e.g., security certificates, distributed storage) gain; ICOs see both a major flop and a breakout. Developer tools: serverless becomes mainstream; APIs encapsulate business processes; example: Juro as an API for contract management. ML/AI: commoditized models shift advantage to training data; algorithmic gains still possible; focus on vertical/AI-first startups. Hardware/IoT/VR: smart speakers push voice interfaces; edge/fog computing resurges; consumer drones underperform; VR advances in eSports. Search Terms & Synonyms (10–20 total): 2017 tech predictions, de-hype tech cycle, cybersecurity trends, data governance and privacy, blockchain adoption, ICO boom and bust, distributed storage blockchain, blockchain security certificates, serverless computing, functions-as-a-service, API economy, API-first products, developer tools trends, machine learning commoditization, training data advantage, vertical AI startups, AI-first companies, voice assistants smart speakers, edge computing fog computing, VR in eSports

Summary (80–120 words): The post analyzes how blockchains could reshape marketplace stacks in three ways: enabling decentralized marketplaces, augmenting existing platforms for efficiency, and counterbalancing dominant platforms’ value extraction. Using Sangeet Paul Choudary’s platform stack (network, infrastructure, data), it maps blockchain interventions: P2P crypto payments; smart-contract escrow with oracles/IoT triggers; protocol innovation (e.g., OpenBazaar, colored coins, LaZooZ); user-owned identity/reputation and signed, tamper-resistant reviews; decentralized hosting. Case studies include Goldman Sachs’ view on Airbnb (on-chain ID, smart-lock-triggered payouts, authenticated reviews) and Storj as decentralized storage. It highlights network-effects’ social costs (e.g., Amazon sellers) and raises VC questions on defensibility when data lock-in weakens and token-based funding emerges. Search Terms & Synonyms (10–20 total): blockchain marketplaces, decentralized marketplaces, marketplace stack, platform stack, network effects in marketplaces, smart contract escrow, crypto payments, peer-to-peer payments, self-sovereign identity, decentralized identity, on-chain reputation, authenticated reviews, blockchain oracles, IoT smart locks, OpenBazaar, protocol tokens, colored coins, decentralized hosting, distributed storage, Storj, sharing economy blockchain, Airbnb blockchain, multi-sided platforms, data portability in marketplaces, platform disintermediation

Summary (80–120 words): Rodrigo Martinez audits his 2016 tech predictions, noting overconfidence and the difficulty of forecasting adoption and timing. Security: no bankruptcies from breaches, ransomware pervasive but opaque, SMBs targeted, healthcare exposed. Bitcoin/blockchain: banks did not launch viable altcoins; price growth lacked clear drivers; cross‑border SMB payments did not emerge as a leading use case; altcoins/ICOs and blockchain mania rose. APIs/dev tools: API‑first became default; M2M APIs immature; SaaS/API models outpace OSS; Atlassian unbundling by Slack/GitLab; Docker consolidates. Data/AI: DBaaS commoditized; ML ubiquitous in pitches but limited value; AI progressed without mainstreaming. Hardware/IoT/drones: smart offices lag, smart homes grew (Echo), enterprise drone adoption slower than expected. VC takeaway: being occasionally right on big bets suffices. Search Terms & Synonyms (10–20 total): 2016 tech predictions review, VC predictions retrospective, security breaches 2016, ransomware statistics, SMB cyberattacks, bitcoin price volatility, blockchain adoption 2016, altcoins and ICOs, cross-border payments with bitcoin, API-first development, serverless architectures, machine-to-machine APIs, open source vs SaaS business model, Atlassian unbundling Slack GitLab, Docker ecosystem consolidation, DBaaS (Redshift), machine learning hype vs value, AI hype cycle, IoT smart office vs smart home, enterprise drone adoption

Summary (80–120 words): Brief recap of Point Nine Capital’s 5th annual SaaS Founder Meetup, expanded into a 48-hour “camp” near Potsdam. About 150 founders and key team members from PNC’s SaaS portfolio, plus a small number of external experts, participated in more than 60 presentations and workshops over two days and nights. Originating in 2012 in San Francisco, the meetup’s purpose is structured knowledge exchange on what works and what doesn’t in SaaS, peer benchmarking, and candid experience sharing. The extended format enabled formal sessions and unstructured time for conversations, connections, and ongoing founder networks. A short video recorded at the event is linked. Search Terms & Synonyms (10–20 total): Point Nine Capital SaaS Founder Meetup, PNC SaaS Camp, SaaS founder retreat, SaaS portfolio meetup, SaaS workshops and presentations, founder peer learning, SaaS knowledge sharing, SaaS best practices, B2B SaaS founders, founder benchmarking, SaaS community event, Berlin Potsdam SaaS event, Christoph Janz Point Nine, SaaS networking, SaaS war stories, portfolio founders summit, early-stage SaaS event, internal SaaS conference

Summary (80–120 words): Point Nine’s 2017 team forecasts span SaaS, marketplaces, AI, blockchain, HR, events, and telemedicine. In SaaS, the bar rises: Tier‑1 VCs seek outliers with ~$300M ARR potential; product, brand, and voice interfaces differentiate. B2B marketplaces expand across logistics and industrial categories; enterprise stacks add “systems of intelligence”; containers drive an on‑prem/hybrid return. AI shifts from hype to vertical, data‑defensible products and automates back‑office work. Regulators accelerate DLT for KYC/AML. Telemedicine must move beyond video to workflow‑centric tools. European VC concentrates in Berlin‑London‑Paris; seed/Series A valuations stagnate; events get smaller and niche. Search Terms & Synonyms (10–20 total): Point Nine Capital 2017 predictions, SaaS $300M ARR benchmark, Tier 1 VC outliers SaaS, B2B marketplaces expansion, systems of intelligence enterprise, on‑premise SaaS comeback, hybrid SaaS on‑prem deployments, containerized software (Docker, Replicated), vertical AI data defensibility, AI product vs technology, back‑office automation AI, blockchain KYC/AML compliance, distributed ledger in banking, telemedicine workflow software, symptom checker APIs (Infermedica), medical NLP (Lexigram), European VC hubs Berlin London Paris, seed and Series A valuations Europe, niche startup events live streaming, voice interfaces for SaaS analytics

Summary (80–120 words): Christoph Janz updates the “SaaS Funding Napkin” for early 2017, noting rising benchmarks for unproven SaaS founders to raise easily from top investors. Exceptional companies show rapid MRR expansion: Tomasz Tunguz’s cohort grew from ~$10k to >$90k MRR in year one and to >$400k ending MRR in year two; leaders like Twilio, Workday, and Zendesk reached $100M ARR in 6–7 years, while Slack did so in 2.5 years. The napkin increases Series B amounts/valuations/MRR and raises seed-stage ambition from $100M+ to $100–300M+ ARR potential. Being a workflow tool is insufficient; founders should aim to be a system of record, build a platform/marketplace, or develop defensible data moats using AI/ML. Search Terms & Synonyms (10–20 total): SaaS funding napkin, SaaS fundraising benchmarks, Series A SaaS metrics, MRR growth benchmarks, ARR milestones, T2D3 growth, triple triple double double double, seed to Series A traction, venture capital expectations SaaS, system of record vs workflow tool, platform ecosystem strategy, marketplace strategy in SaaS, data moat, AI/ML defensibility, Tomasz Tunguz benchmarks, Slack $100M ARR growth, Twilio Workday Zendesk ARR trajectory, B2B SaaS metrics, Series B valuation ranges, Point Nine Capital Christoph Janz

Summary (80–120 words): Point Nine’s 2016 roundup highlights portfolio and firm progress: 13 new portfolio additions (some undisclosed) and over $180M in follow-on rounds for #P9Family companies from Benchmark (Contentful), Social Capital (Front), SaaStr Fund (Automile), Naspers (Brainly), Insight (GoSpotCheck), and others. The firm expanded its team, moved offices, and ran community programs—CTO meetups (Lisbon, Paris), a Mobile Summit, a Marketplace Meetup in Berlin, SaaS satellites at SaaStr/SaaStock, and a 2‑day SaaS Founder Camp—engaging 100+ speakers and 500+ attendees. It doubled down on France (Storefront, Sqreen, plus two undisclosed) and surpassed 100 Medium posts, including the SaaS Funding Napkin, marketplace theses, an open-source deal memo template, and work on systems of record and APIs. Search Terms & Synonyms (10–20 total): Point Nine Capital, P9Family, B2B SaaS venture capital, marketplace investing, follow-on funding rounds, Benchmark Contentful, Social Capital Front, Naspers Brainly, Insight Venture Partners GoSpotCheck, French tech investments, Storefront, Sqreen, SaaStr Annual, SaaStock Dublin, CTO meetups, SaaS Founder Camp, SaaS Funding Napkin, open-source deal memo template, system of record, API strategy

Summary (80–120 words): The post models lead-generation/distribution channels as evolving systems with a four-stage lifecycle aligned to a Hype Cycle: 1) Early days: small, low-saturation early adopters; loose rules; high results/effort for innovators. 2) Gold rush: rapid audience growth; copycats follow proven tactics; novelty fades; performance declines as noise rises. 3) Sheriff in town: operators add governance (moderation, ranking, customization); harder access but better signal. 4) Experts time: mature, saturated audiences; big players dominate; specialized expertise and paid distribution matter. A three-factor lens—Audience, Competition, Operator—explains shifts. Examples: Google SEO/SEM, iOS App Store, Facebook; niche cases: Product Hunt, Hacker News. Advice: match playbooks to stage, anticipate saturation, imitation, and rule changes. Search Terms & Synonyms (10–20 total): lead generation lifecycle, distribution channel lifecycle, growth channels stages, go-to-market channels, customer acquisition channels, demand generation, early adopters vs early majority, channel saturation, platform governance and algorithms, platform risk (rule changes), SEO and SEM maturity, app store optimization (ASO), Facebook organic reach decline, pay-to-play distribution, growth hacking vs channel expertise, results-to-effort ratio (ROI), acquisition playbooks, early mover advantage, performance marketing, channel-market fit

Summary (80–120 words): The post open-sources Point Nine Capital’s deal memo used in the assessment phase of venture investments. It defines nine areas: product (problem, core features, 6–18 month roadmap, demo), market (precise target segments, TAM via bottom-up and top-down, structure/dynamics), competition (incumbents, positioning/competitive matrices, long-term defensibility), traction (SaaS MRR/customers; marketplace GMV/net revenue/margins; cohort retention; probability-adjusted sales pipeline), acquisition (current channels/CAC and near-term GTM plan), business model (pricing), team (founder strengths/weaknesses, first hires, technical due diligence), funding/deal (round size, runway, milestones, prior funding), and reference calls (customers, industry experts). It also links practical templates and resources (KPI dashboards, cohort analysis, pitch deck, term sheets) to standardize evaluation and save time. Search Terms & Synonyms (10–20 total): VC deal memo, investment memo template, venture capital due diligence, VC evaluation framework, SaaS metrics MRR, marketplace GMV, cohort analysis retention, sales pipeline probability-adjusted, TAM market sizing bottom-up top-down, competitive analysis positioning matrix, go-to-market strategy, customer acquisition cost CAC, pricing model strategy, technical due diligence, founder references customer calls, seed to Series A readiness, runway and milestones, defensibility network effects

Summary (80–120 words): The post outlines how marketplaces progress from classifieds/brokers to full-stack operators that deliver end-to-end services. Early stages offer listings and simple messaging; to avoid being “just a messaging site,” operators add payments, trust-and-safety, and workflow tools for both supply and demand. Airbnb exemplifies the path: listings → messaging → payments → quality control via professional photography → insurance → expanded offerings (Experiences). In low-digitization sectors, tech-enabled agencies/classifieds can suffice initially; in digitized markets, deeper operator integration is needed to build stickiness and defensibility. The framework is a staged progression: connect supply and demand, solve liquidity, then layer operational tools that raise quality, reduce friction, and increase control. Search Terms & Synonyms (10–20 total): full-stack marketplace, managed marketplace, marketplace evolution, two-sided marketplace, supply-demand liquidity, tech-enabled agency, classifieds to marketplace, operator integration, trust and safety, escrow payments, onboarding and workflow tools, quality assurance, professional photography, host insurance, Airbnb case study, platform defensibility, end-to-end service, marketplace playbook, vertical marketplaces