not vested
Smartsheet (NYSE:SMAR) is a fascinating SaaS company that has a collaborative software offering.
Collaborative software has always been a niche market; in the old days, everybody had to install the software in order to collaborate. Those days are gone.
Now, individuals can download the software and try it out; people who don't subscribe to Smartsheet's offerings can collaborate with people who do.
Like most SaaS companies, Smartsheet has a "land and expand" strategy -- if a few people in an enterprise try the software, the number of subscribers multiplies from there.
Smartsheet's dollar-based net retention rate is 134%, and its revenue is growing by 54% year over year.
The company is creating a new market, replacing some of the myriad ways people communicate and share information on a project. What used to be a mishmash of emails, phone calls, whiteboards, and face-to-face meetings now takes place on a collaborative platform.
Source: Motley Fool