klaviyo - TJ's Blog

The Q3 2024 Valuation Update

Klaviyo has maintained its position as a stock market darling. Trading at over thirteen times last-twelve-months (LTM) revenue, its $11.53 billion market cap places it…

On the Health of the SMB

Speaking of inherent biases in frameworks, mine is the focus on the health of the SMB segment. Especially the focus on the “small” in small…

Braze Predicts 25% Revenue Growth in 2025

With a 23% year-over-year (YoY) increase in revenue and $600M in ARR, Braze rounded out the Q3 2024 (its FY 2025) earnings results for the…

Twilio Completes the BFCM Picture

From Monday, November 25, 2024, to Monday, December 2, 2024—i.e., the e-commerce Cyber Week—Twilio sent over 5.2 billion messages and processed over 65.5 billion emails.…

Klaviyo, Attentive, Postscript, Vibes, Sinch, and Infobip Share BFCM Stats

Attentive hit 620 million texts on Black Friday; Klaviyo sent 420 million messages (email + text) in just one hour that day. Building on last…

Shopify Merchants Break Records with $5B in Black Friday Sales, Peaking at $4.6M Per Minute

Shopify merchants smashed records with $5 billion in Black Friday sales, peaking at $4.6 million per minute. If Shopify had a banner season, you can…

Sinch, LINK, Klaviyo, and Upland Report on 2024 Progress

With the exception of Klaviyo, sustaining momentum within increasingly demanding markets remains a challenge for the cohort. Over 80% of Klaviyo’s top fifty customers use…

The Good, The Interesting, The Unknown: a 2024 Earnings Check-In

In one week, the US will elect a new president; in four weeks, the biggest Black Friday / Cyber Monday (BFCM) ever will kick off…

$400 Billion B2B Opportunity, RCS Can’t Come Soon Enough, and Other MWC 2024 Observations

The morning of my fireside chat with Vonage CEO Niklas Heuveldop at the ConnectMobile stage, the GSMA released a report stating that wireless operators were…

SaaS Capital Talks Private Valuations

Now in its tenth year, SaaS Capital released its private company benchmark survey. Unless there is survey data (like what SaaS Capital has), it’s harder…

Klaviyo Leads the 2024 Valuation Race

At over ten times its last twelve months’ (LTM) revenue, Klaviyo leads the valuation race. Its $8.31 billion valuation puts it in the same zip…

Klaviyo Flexes into the Enterprise to Deliver a Stellar Q2

Klaviyo reported $222 million in revenue with a 35% year-over-year growth rate and SaaS-like 77% gross margins. At this rate, it is possible that the…

Q2 Earnings from Twilio, Sinch, Bandwidth, and Upland

At $1.1 billion in revenue, with a 51% gross margin and improved free cash flow, Twilio took the prize for both earnings and profitability beats.…

Braze Delivers a Strong Quarter

With 117% Net Dollar Retention (NDR), $15 million net cash flow, and 44% of revenue from non-US customers, Braze delivered a strong quarter despite a…

The 2024 SaaS Growth Snapshot

Since 2012, I’ve maintained a dynamic list of public companies I follow. If it is true that software is eating the world, then understanding these…

Twilio, Sinch, Bandwidth, Upland, LinkMobility and Klaviyo Announce Q1 2024 Earnings

Overall, the cohort delivered double-digit revenue growth but with some disclosing single-digit declines; many showed no appetite for M&A, but one is evaluating eleven acquisitions;…

Pass-Thru Fees & the Asymmetric SMS Market

Mobile operators charge companies to access their SMS networks. These charges, commonly known as pass-thru fees, are immune to the sender's purchasing power. In fact,…

The Three Kinds of Interoperability Every Startup Needs to Know

“Interoperability” is a long word to write and say. Yet it’s at the heart of any David vs. Goliath tech story. The success of any…

Messaging and Growth in 2024

In Messaging and Growth in the Pandemic, we unpacked the drivers of pandemic-led growth. We discussed why it was a one-time event, with little to…

The Four Growth Investments You Must Make

The five companies I watch—Bandwidth, LinkMobility, Sinch, Upland, and Twilio—ended 2023 with $9.2 billion in revenues. Collectively, they are projected to end 2024 with a…

The Klaviyo Papers

In a series of posts I call ‘the Klaviyo papers’ I wrote about Klaviyo’s business model. Klaviyo, like Attentive before it, and Twilio before it,…

Three Key Learnings from Twilio, Sinch, and LinkMobility Earnings

Twilio, Sinch, and LinkMobility together brought in a total $7.6 billion in revenue for 2023, and there are three learnings from their earnings reports. Efficiency…

Growth and Valuation in 2024

The seventh week of the year kicks off the earnings season for the messaging space. On Valentine’s Day, within twenty-four hours of each other, Twilio,…

An FCC Ruling puts a Spotlight on Customer Data Platforms

Last week we discussed the first three FCC rulings from December. This week we examine the final ruling and its industry impact. The FCC ruled…

A Look into Q3 Earnings of Twilio, Klaviyo and Others

In the latest round of Q3 earnings in the CPaaS sector showed a steady march towards profitability and responsible growth. Growth and the CPaaS Market…