State of the Cloud in 2023: Developments in SaaS IPOs, M&A, and Cloud Business Model

This chapter provides an overview of the state of the cloud market in 2023, highlighting recent developments in SaaS IPOs, M&A trends, and the resilience of the cloud business model. It discusses the decline of cloud stocks in 2022 due to external shocks and macro uncertainty, but notes signs of improvement and stabilization in 2023. The chapter emphasizes the shift towards valuing efficiency and profitability in the cloud market and highlights tactics for driving efficiency in different areas of a company's P&L.