Kyle Poyar’s Growth Unhinged

Kyle Poyar’s Growth Unhinged

Inside Toast's 🔥 IPO

Why the company is betting on PLG to fuel its next act

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Kyle Poyar
Oct 14, 2021
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👋 Hi, I’m Kyle and welcome to my newsletter, Growth Unhinged. Every other week I take a closer look at what drives a SaaS company’s growth. Expect deep dive takes on SaaS pricing, product-led growth, public company benchmarks, and much more.

Toast just IPO-ed1 at a >$20B valuation.

Great news for Boston tech, terrible news for Boston real estate.

Toast’s valuation is up from an already astronomical $4.9B valuation back in February 2020 before the height of the pandemic (and ensuing restaurant shut-downs).

Some quick stats from Toast’s S-1 filing:
📈 $494M in "ARR" (I'll get to that later)
📈 118% ARR growth YoY
📈 >110% NDR despite a challenging period for restaurants

Shall we dive in?

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