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Subject:  Re: Asana Q3 2020 Results Date:  12/10/2020  9:14 PM
Author:  nilvest Number:  74278 of 78012

FWIW, to my understanding, SmartSheet and Asana product is project management software. In other words, it is a modern and cloud based version of Microsoft Project.

I see combined, these companies have >1500 customers paying >$50K per year with some of them paying >$500K / year and >$1M / year.. so its certainly adding value to many companies.

Big appeal here is subscription based SaaS and land and expand model. This type of SW likely to continue to grow at steady rate well past fast growing communication SW bretherns like Slack and Zoom. Think of these guys as marathon runners (I think at-least 5+ years growth runway here at >30%).

And given its less sexy nature, it is unlikely to see either MSFT or other large name come chasing this space..

So sustained growth, quality SaaS with high gross margin and lack of concern of big name competition, and easier comp for next few quarters - seems to me a good recipe for multiple expansion fueling stock price ramp.
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