I find these types of reports really interesting. Okta collects anonymized data from thousands of companies to produce these reports each year. I’ll share a few of my key takeaways, but it’s a quick and very interesting read.
- This report emphasizes the fact that most SaaS/IT marketplaces especially now that we are in a subscription world are not winner take all.
“We studied our Office 365 customers to see what other apps they are using. We found that 76% have one or more apps that duplicative of apps offered by Microsoft…”
Me again: This is a sign that we shouldn’t worry about the big players smashing our smaller, niche companies, but also that we shouldn’t rely on one company taking over all (or most) of industry spend.
- Security apps are just getting started
“We noticed impressive growth in company investments in security tools. Why? Increased attack sophistication and insider threats mean that not everything or everyone inside a network can be trusted. With the new Zero Trust framework, organizations are shifting the focus of modern security away from traditional network strategies to perimeter-less approaches, focusing on users, data, and locations. People (and their identities) are at the center of this framework – and organizations are looking for tools to help protect those valuable credentials.”
- Atlassian (TEAM) really has my interest – might open a starter position soon.
“Taking sticky notes and whiteboards digital, Trello has hit a sweet spot in the project management space. PURCHASED BY ATLASSIAN in 2017 for $425 million, Trello has grown 119% over the past two years and is the most widely used project management app overall. The second most used project management app is Asana, whose growth over the past two years has only been 18%. In third place, Basecamp is heating up with a strong 43% growth over the past two years.”
Jira, Atlassian’s Agile Project Management tool is one of the most popular apps by number of customers and Atlassian is ranked as one of the fastest growing apps.
- Teladoc & Telemedicine, in general, are growing FAST. Teladocs growth in the last two years should mean the company is going to have a big year as those customers begin using the platform more and more.
– I already have a 5%ish TDOC position so I probably won’t add to it.
“Teladoc enables its members to speak to a licensed doctor via video chat or phone within minutes, 24 hours a day, 365 days a year. Sound convenient? Users think so. Teladoc rose from the bottom of the list, shooting up 280% in the past two years to blow past apps from household-name providers such as Aetna, Cigna, and UnitedHealthcare. It’s the first time telemedicine has taken the top spot.”