Cloud Company Chronicles: Where Are They Now?
Easter Edition - Reflecting on a Year of Headcount Changes
As we emerge from a particularly turbulent earnings season, it's an opportune moment to reflect on the headcount changes among cloud companies over the last year. With Easter upon us, what better time than now to resurrect some data insights? We've delved deeper, analyzing service category levels and company stages to provide a layered perspective, because, ahem, we are more technical than your average business data provider, you know?
At the company stage level, acquired companies have seen their headcount decrease by 1%. Public companies managed to boost their workforce by 4%, while private companies have demonstrated significant growth with a 15% increase in headcount. Given last year's intense pressure on public and acquired companies to enhance cost efficiency, these figures align with expectations.
Turning to business categories, Data Visualization and Business Intelligence faced a sharp headcount reduction of 9%, struggling in a fiercely competitive sector with scant differentiation. And on a lighter note, perhaps it's not too late for us to pivot to Bitcoin…. Well, Blockchain, too, saw an 8% decline. Meanwhile, sectors like Cybersecurity and Identity Management, and Digital Learning and Government Solutions are on the rise, with headcount increases of 11% and 13%, respectively. Most other categories saw modest headcount shifts ranging from -6% to 5%.
Finally, when we examine individual companies, the variation is stark. Companies such as Coupa Software faced a headcount reduction as steep as -17%. Meanwhile, firms like Databricks Asana have surged forward, with significant headcount increases suggesting a bright outlook for their operations.
Happy Easter, here's hoping your portfolio came out with more treats than tricks.