More startups are hitting $10M ARR in 3 months than ever before
AI has brought the startup world the rise of a new phenomenon: startups that almost instantly hit multimillion ARR (annual recurring revenue). Stories abound of founders going from zero to $10 million, or as much as $100 million, in annual recurring revenue in a matter of months. To be fair, this, alone, isn’t a harbinger of long-term success. VCs say that durable growth is far more important than ultra-speedy growth. Investors want to back companies where the rate at which customers cancel or stop paying is low, meaning customers are happy. They want that annual or monthly recurring revenue to stick around and grow, not wobble and crash. Even so, the phenomenon is real. As part of Stripe’s annual report, released on Tuesday, the payments giant revealed that it had more…
