The enterprise software market has become the SaaS market, and historic enterprise titans like Oracle, SAP and Microsoft have been working feverishly for years to reposition themselves as cloud companies. But revolution means change, and it’s the new entrants that have defined SaaS.
Since the IPO of Salesforce, the first true enterprise SaaS titan, in 2004, SaaS companies across the U.S. have created over $200Bn of public market value, generating a wave of returns for VC-backers that has helped to fuel the recent frothiness in private markets.
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