Feishu's One Data Hub, Three Products, and a Split Between China and Overseas

Originally published in Chinese on September 5, 2024. The SaaS market and Feishu's growth Revenue at SaaS leaders at home and abroad One figure: Feishu's annual recurring revenue (ARR) is above $300 million. First, revenue at the top 20 US-listed SaaS companies in 2022. Salesforce has ranked first for many years in a row and its revenue keeps rising. Its latest annual revenue is $34.86 billion and its market value is above $230 billion. Here is a rough look at the leading SaaS companies in China. Yonyou: in 2023 revenue was RMB 9.796 billion (approx. $1.4 billion), of which cloud services brought in RMB 7.091 billion. Cloud services ARR was RMB 2.35 billion. Yonyou had 24,949 employees at the end of 2023. Kingdee: 2023 revenue is expected to be about RMB 5.679 billion, and annual recurring revenue from Kingdee Cloud subscriptions is about RMB 2.85 billion. It has 12,348 employees. Weimob: total revenue in 2023 was RMB 2.228 billion. Subscription solutions brought in RMB 1.349 billion, up 4.5% year on year, and merchant solutions RMB 878 million. It has 4,584 employees. Youzan: in 2023 Youzan reached operating profit, about RMB 35.52 million, and its combined revenue per employee reached RMB 800,000. Revenue in 2023 was about RMB 1.45 billion, of which subscription solutions were about RMB 840 million and merchant solutions about RMB 610 million. It has 1,879 employees. Fanruan: sales in 2023 reached RMB 1.36 billion, and it has led its market in share for 5 years running. It has 1,800 employees. Seeyon: total operating revenue in 2023 was RMB 1.045 billion. At the end of 2023 it had 2,769 employees. Feishu's revenue and revenue per employee