Brian Halligan, HubSpot's co-founder and chairman, says the SaaS downturn ended in Q3 2024 after a period of over-hiring and customer downgrades. He sees improvement heading into Q4 2024.
It beats. SaaS was in a downturn. I don't know when it started, but I think it ended in Q3. If you look at the SaaS company's numbers, see it through Sequoia, see it through all my HubSpot dashboards where I see our customers. It felt like we came out of the recession in Q3 of 2024. And I also just think it's like.
The universe.
Like slammed Sass down and then splashed it way up and then slammed it down again and it's lashing back up. I think we're in a different place in Q4 of this year than we were in Q4 of last year. Economically, Sasso people overbought. People had too many employees. Yeah. And the downgrades were high, the growth retention for people were low. And I think we're just getting back into a better spot.
Hello, Saster. We are here with one of our old time friends and favorites, Brian Halligan, co founder, chairman of HubSpot OG SaaS executive thought through all the things we've thought through over the years. Been to Sasser Annual several Times Now. Wearing three hats.
Right? Three hats.
Chairman of HubSpot, Sequoia Growth and Propeller VC Fund. Wearing three hats in. In Mountain 2. Are you on Mountain 1 or Mountain 2?
