I think it's less to do with hipness and more to do with business realities. For example, perhaps "Monday" is an unenforceable trademark, and/or "Monday" is already a registered business entity.
It also has some mild advantages in terms of auto-generating links to their homepage when referring to the company by name in places like Teams or Slack.
The Work OS category is confusing since I was more familiar with WorkOS[0] already. I didn't connect how these were related (which they really aren't).
I got the impression that most existing tools in this space were quite targeting at software development, whereas was taking that model and bringing it to general project delivery. That's just from the their marketing though. I haven't actually used it.
It was everywhere on the Tube in London after it rebranded from Dapulse, in the middle of the whole Brexit fiasco.
It reaffirmed something an old colleague of mine said: everyone in startup tech assumes you're politically on the left. And those ads were aimed at those people.
You're not missing anything. What these people miss is any potential unseating of Jira. The executives want it, project management wants it, engineers be damned. Had to convince my team to stop using Github Issues so Directors had more insight into our work, since Jira's where they look. It's panned out well for the team. The visibility gets us better projects and helps when it comes to annual reviews.
My company started using Monday.com for all project tracking. Engineers were not happy. We're now on Jira for all engineering tickets and tasks. Never through I'd see engineers happy to use Jira.
My ex business partner (the ideas guy), loved it. I think he saw so many ads for it that he got brainwashed. Mostly what he liked was you could add time estimates and then it could sum them up, and you could group that in different ways. He would use that to create completely unrealistic timeline views which were never met.
This is surprising. The company is still growing at a very fast rate, especially in their "whale" segment (customers with ARR over $50k). I'm curious about why they want to take the company public, as VC funding shouldn't be hard to come by with these numbers. The founders have not sold any stock so far in the two secondary sales ($50 million at Series D and $30 million at Series E). Intriguing.
Probably to cash out in the current market hysteria. Though high growth tech has been sliding for a few weeks after bubbling up...
If we do get high inflation numbers going forward, valuation multiples for tech will likely contract. A lot of price appreciation in the last few years has been due to expansion of valuation multiples, rather than growth. Though of course, all of these tech companies are growing incredibly fast too.
E.g. Apple had a PE of 8 just a few years ago, now it's around 30. Of course, a great business, but share price growth has outpaced real metrics
Not related to the IPO, but has anyone else found Monday.com's branding to be very similar to Slack's? Specifically the logo palette, shape, and typeface. They're so similar it looks like a related brand from the same company.
The typeface is similar, but the ClickUp chevron logo has sharp edges and a gradient fill. Both Slack and Monday.com use solid, primary-ish colors and rounded "pill" rectangles.
I used to see their advert come up in certain places and I actually clicked through once to check the footer if they were owned by Slack. Loading the page didn't help because as it's in the similar market sector.
I always thought it looked like slack as well. probably because of the colors. But then again, all Monday seems to do is take ideas from smaller companies. Look at Timelinr. Monday copied their UI and everything.
Not to disparge Timlinr, but it's not like either tool was the first project management tool on the block. Everyone and their pet budge has had a crack at a project management tool.
I mostly contract and it's not uncommon to see an agency dogfooding their own project management app that they hope to sell as a SaaS.
Very competitive market. So many solutions. ClickUP is the new kid on the block, like Monday they go crazy on marketing. Given they made $58M in Q1 revenue and losses are growing, I wouldn't touch the stock if their market cap is higher than $3B.
Monday.com spent $191 million in marketing to get $161 million in revenue in 2020. Granted they are only spending $1.2 in marketing per dollar in revenue now so they are doing better than the $1.5 per $1 they had last year in 2019. GnA bumped by $40 million and that brings them more in line with the 2019 marketing cost/revenue ratio though so maybe they creatively characterized GnA.
If their market cap is above 3 dollars I wouldn't touch the stock.
True. I agree with your sentiment and very unlikely touch the stock even if they go much lower than 3B. But sales and marketing expenses is something they can cut down once they reach a certain size. Cost of revenue and R&D expenses seem great.
Spending 190 million once for customers paying 160 million a year is maybe not a bad deal. Often large saas companies have positive net revenue retention.
"Additionally, our Net Dollar Retention rate for all of our customers was 100%, 105% and 107% for the three months ended December 31, 2019 and 2020 and March 31, 2021"
It's kinda crazy given that Asana and Notion both just went public. Atlassian owns JIRA and Trello and I'm guessing has the biggest chunk of the market. Microsoft are pushing their own tools to integrate natively with Visual Studio and Azure. And frankly, I haven't seen much of anything that resembles actual innovation from any of these. They're all just tuned to different levels of expertise in their user experience.
Yup and as recently as 24 months ago, $3B would still have been somewhat pricey at their revenue and growth rate. It'd be very hard for me personally to justify investing in a product that is in such a competitive market without product moats. It seems like with an absence of product differentiation Monday.com is aiming to differentiate via marketing, which is a very expensive way to grow.
I tried using Monday.com for a building project I had and the interface become totally unusably slow... no idea if this is fixed but it seems like an issue for a billion dollar company.
Fair comment. But when Jira is slow it’s getting stuff off the server that made it slow, the Monday slowness was more like a webpage with loads of ads - it slowed down my whole machine and everything was semi unresponsive.
"We are a growing lead-gen platform. We have a growing user base of people that are annoyed as hell from our advertisements, so they just pay for subscriptions at other sites to make them go away."
I get grammarly. It's been years and tens of thousands (probably) of grammarly ads. It's like they'll never work out that I will never, ever, ever need or want their product in a thousand lifetimes.
Sorry! This is the absolute best that the world’s highest-paid gaggle of engineers and researchers have been able to come up with in their work on so-called “ad tech.”
You are not the target audience. You are a collateral damage. Ad tech targeting is less like a sniper rifle and more like a shotgun: it mostly hits the target, and then some area around it.
I suspect that the sniper rifle-type ads, where possible due to deep profiling, would spend less of advertisers' money, but would feel incredibly creepy, lowering their efficacy.
YouTube ads are so ridiculously annoying these days. I get Peloton ads ALL the time. I will never, ever buy one. And I ALWAYS press skip. But still, the amazing AI keeps showing me f*ing Peloton ads.
I feel like those online Shop things are the new "you can be a rockstar / Youtube star". Everyone feels like they can be rich or famous. And i think shopify is massively profiting from that.99 percent of rhe Shops there dont make any money..
coinbase ads have been getting more and more annoying.
It used to be just that melody, set to some screen animations. Then they've added sound effects - button pushes, machinery sounds, to the same ad, I assume in attempt to get my attention.
But please look for "uBlock Origin" (the one maintained by the original author), not "uBlock" (which was taken over by someone else and allows "acceptable" ads):
I can't immediately create a task on a particular list without using the mouse. I would like a keybinding that allows me to say "add to the second list from the left."
I would also really be benefited to allow for some default behavior that when i do (using keybindings) add a new item to the second list from the left, that it would just open up the detailed view and automatically allow me to enter the title and simply tab down to the description section to add everything.
I love trello, but the amount of clicking i have to do gets annoying.
I have some horrible stories about monday.com.
Here's one: Moving from Trello to monday.com was the biggest reason why we couldn't deliver in time a iOS project for a client. People were happy to use Trello and it worked fine and suddenly someone pulled the trigger and decided to move us all to monday.com ("We got a good deal y'all !!! ") - so we did and the people in the team HATED it. When 90% of the team decides to update tickets once a week instead of daily, simply because they HATE the tool that tracks tickets, then you know you're in for an unpleasant ride.
We're back on Trello now.
That's our team with Jira. It doesn't make sense to update tickets when all the work is done in Github. You basically have to duplicate work. I've been trying to push Zenhub for years.
I work at Asana and we just published our open source GitHub integration. GitHub PRs and comments are mapped directly to Asana tasks. We use it internally and I love it.
If "Monday/Trello alternative with GitHub integration" is what you're looking for, it might work for you. But I admit it does take some setup, and it would be nice if it were built directly into the product.
I worked at one place where we tried to break out of Jira, at least for the internal team. We tried all sorts of things but it all went back to Jira in the end.
Jira is better when you have control over your workflow, it fucking sucks when you don't have permissions to tweak for your team.
I still hate using it but it is probably the only tool that isn't, in itself, opinionated. Chances are if you hate Jira at work, you're really hating the people who administrate it. As for other tools, the hatred is outsourced.
Where I work, Jira workflows are owned by a "scrum master" whose job appears to alternate between creating superfluous processes for every new problem encountered, and, optimizing the overwhelming large number of processes slowing everyone down.
Then they are a terrible scrum master. A good one would listen to these sorts of issues and remove as much nonsense as possible to create the bare minimum level of process that Gets The Job Done
I was mentored by a few scrum masters who put their whole career on this. They wanted us to succeed and the success would put them out of the job, or send them to another team.
Ah, yes. The well-known moving of the goalpost only scrum fans are capable of. Where scrum is simultaneously the solution to everything, and also never "done correctly."
I don't know if it's entirely Monday.com's fault for that. Changing project management tools mid-project is project suicide. Even if it works out, and is the right choice long term, it's still an enormous unnecessary stress to the project.
Moving project management tools is absurd in the middle of a project. I was on a team that did it three times in a year and each time features got lost and work was undone.
I use it at my current company. I don’t like it. I don’t like Jira either, but Jira is still far superior and integration with other Atlassian products is really helpful. Linking tickets to one another in Monday is really bad, data gets lost all the time, it’s not good for retaining a record of work.
The best task tracking system I've worked with is one that I created in about 30 minutes of thinking through the business domain and then wiring up a blank Airtable base to represent what I needed to know. With kanban, gantt, and table views, it's all I need. Plus, the API is easy to use so I can pull the data down when needed. All of the other systems seem to be 80% solutions and I end up getting really irritated by the 20% they don't cover.
Sure, it covers whatever you want it to cover. The interface is fine. It’s the ability to build your own data model that is what makes it powerful, especially because you can iterate so quickly, even after you’ve started using it.
This is one of the worst tools I've ever used and we tried hard for a year. Besides the interface being clunky and slow it lets you delete important things on accident with multiple people in our group having fallen victim to it's non intuitive UI. I've never wanted a company or people to fail but the amount of misery this product has brought coworkers and myself, I'm shocked it's in a position to file for IPO.
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[ 2.8 ms ] story [ 160 ms ] thread$161M in 2020 revenue
$152M in loses.
[0] https://workos.com/
Monday.com always seemed to re-label know practices with their own terminology. What am I missing?
Looks like it's been paying off for them, but I prefer to support smaller startups, especially when all I need it for is roadmapping.
The Timelinr landing page could also do with a lot of work but I think it's mostly the tone of voice that doesn't work well with me personally.
It reaffirmed something an old colleague of mine said: everyone in startup tech assumes you're politically on the left. And those ads were aimed at those people.
If we do get high inflation numbers going forward, valuation multiples for tech will likely contract. A lot of price appreciation in the last few years has been due to expansion of valuation multiples, rather than growth. Though of course, all of these tech companies are growing incredibly fast too.
E.g. Apple had a PE of 8 just a few years ago, now it's around 30. Of course, a great business, but share price growth has outpaced real metrics
I mostly contract and it's not uncommon to see an agency dogfooding their own project management app that they hope to sell as a SaaS.
If their market cap is above 3 dollars I wouldn't touch the stock.
Above water, but low for SaaS: https://miro.medium.com/max/1400/1*M7c6_AvmAF0ehB7ebbpAeg.pn...
Via: https://medium.com/@alexfclayton/saas-ipo-net-dollar-retenti...
"We are a growing lead-gen platform. We have a growing user base of people that are annoyed as hell from our advertisements, so they just pay for subscriptions at other sites to make them go away."
I suspect that the sniper rifle-type ads, where possible due to deep profiling, would spend less of advertisers' money, but would feel incredibly creepy, lowering their efficacy.
It used to be just that melody, set to some screen animations. Then they've added sound effects - button pushes, machinery sounds, to the same ad, I assume in attempt to get my attention.
https://en.wikipedia.org/wiki/UBlock_Origin
That, grammerly and now hello fresh, making me greatly consider premium. Maybe that's Google secret plan, annoy us to death so we subscribe.
KPI , the backbone or corporates politics.
I would also really be benefited to allow for some default behavior that when i do (using keybindings) add a new item to the second list from the left, that it would just open up the detailed view and automatically allow me to enter the title and simply tab down to the description section to add everything.
I love trello, but the amount of clicking i have to do gets annoying.
If "Monday/Trello alternative with GitHub integration" is what you're looking for, it might work for you. But I admit it does take some setup, and it would be nice if it were built directly into the product.
https://github.com/asana/SGTM
Jira is better when you have control over your workflow, it fucking sucks when you don't have permissions to tweak for your team.
I still hate using it but it is probably the only tool that isn't, in itself, opinionated. Chances are if you hate Jira at work, you're really hating the people who administrate it. As for other tools, the hatred is outsourced.
To my mind, a good scrum master is a good leader.
Ah, yes. The well-known moving of the goalpost only scrum fans are capable of. Where scrum is simultaneously the solution to everything, and also never "done correctly."
That was about as bad as you can expect.