Coupa gartner magic quadrant7/19/2023 ![]() A couple of years later, the market cap was under $500 million. When I joined Ariba in 2000, ARBA had a market cap of $40 billion. (Remember that SAP purchased Ariba for aapproximately $4.5 billion when its revenues were similar to Coupa’s–though Ariba was not growing nearly as rapidly. And yet Ariba represents only about 5% of SAP’s revenue. If you apply the same price-to-sales metrics for Coupa to Ariba, Ariba would represent about 20% of SAP’s market cap. SAP Ariba is rumored to have revenues of over $1 billion.Coupa, therefore, sports a market cap of almost 6x Jaggaer’s! Jaggaer, however, recently sold for $1.5 billion according to Bloomberg. Presumably, it is in the ballpark of Coupa’s size. Jaggaer earlier this year claimed to be the largest independent spend management provider.Just compare Coupa’s valuation to its closest comparables: As a result, COUP’s valuation multiple has been richly rewarded. The company recently reported year-over-year revenue growth of 44%. ![]() Coupa Stands OutĬoupa stands out in the 2019 Magic Quadrant for Procure-to-Pay Suites in terms of its valuation ($8.5B) and growth rate. Procure-to-pay suite revenue is, unfortunately, buried deep within Oracle and Synertrade’s parent company Econocom Group, so it was not available for these two companies. I provided company valuations and revenue estimates when I could find them. Let’s get straight to the money shot and then a little commentary. See Spend Matters’ Solution Maps.) Gartner 2019 Magic Quadrant for Procure-to-Pay Suites (with Valuations) ![]() For instance, each vendor’s dot could be sized in proportion to their NPS scores, revenue, or valuation. (I still don’t understand why Gartner has not varied the size of the “dots” to add more information to the charts. Once again, I have superimposed valuation information onto the Magic Quadrant. Gartner recently published its 2019 Magic Quadrant for Procure-to-Pay Suites.
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