Clouded Judgement

This SaaS market analysis highlights Agora's IPO performance with a 182% gain from issue price, driven by strong unit economics and COVID tailwinds, and provides detailed valuation multiples benchmarking across high-growth SaaS companies. The article emphasizes the importance of organic growth rate analysis (using ZoomInfo as a case study) to avoid inflated metrics from M&A, and benchmarks median SaaS operating metrics including 117% NRR, 73% gross margin, and 28-month CAC payback periods.