The Neon Show

This is a special episode from the Neon Fund.In 2025, the US saw $1.8 trillion worth of M&A deals, around 25× more than India. But India’s startup ecosystem is much younger, which makes every acquisition a playbook for founders on process, pricing leverage, and stakeholder management.Neon backed Zenduty in 2020, when the founders had been bootstrapping profitably for two years and were already growing at a pace many VC-backed startups aspire to.Today, founders Ankur Rawal and Vishwa Krishnakumar join Siddhartha, Partner at Neon, to discuss one of the most untalked acquisitions of 2025.Over a 10-year journey, Zenduty pivoted to SRE in 2020. Vishwa and Ankur also share insights on the future of the DevTools space, which they believe will always be a strong choice to build great products, because engineers are among the hardest end users to please.This episode is a founders’ view on how acquisitions work in Indian SaaS.00:00 – Trailer01:00 – Initial years of a decade-long journey07:12 – How Zenduty chose its investors11:04 – How much should founders dilute?12:24 – Building with profitability before & after fundraise14:45 – Six years of survival before the pivot17:01 – Why the pivot to the SRE space?18:39 – How Zenduty differentiated from PagerDuty19:12 – End users are the toughest to please in engineering20:39 – Is market attractive if biggest player is valued only $1.5B?25:22 – Why acquisition and not a Series A?27:18 – The process before acquisition29:23 – How pricing negotiations work31:51 – Should devtool companies build from India or US?34:58 – Three types of connects at physical events37:06 – What physical presence at events signals39:06 – Founders’ feedback on Neon Fund41:41 – “Don’t build in silence”43:50 – How to build a core AI-native company today47:54 – Do first-time founders have an edge in the AI era?52:08 – Cost to PMF has drastically gone down54:48 – What hard problems are startups solving today?55:37 – Why are acquisitions rare in India?1:00:20 – How US investors are facilitating M&As1:01:14 – How to make your brand visible to potential acquirers-------------India’s talent has built the world’s tech—now it’s time to lead it.This mission goes beyond startups. It’s about shifting the center of gravity in global tech to include the brilliance rising from India.What is Neon Fund?We invest in seed and early-stage founders from India and the diaspora building world-class Enterprise AI companies. We bring capital, conviction, and a community that’s done it before.Subscribe for real founder stories, investor perspectives, economist breakdowns, and a behind-the-scenes look at how we’re doing it all at Neon.-------------Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7-------------This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.Send us a text

Kanwal Rekhi first came to the US in the 1960s. He took his company public on Nasdaq in 1987. As a young Indian in the US, he was laid off from his first three jobs. That experience pushed him towards entrepreneurship. At the time, Indians were known and hired for technical and mathematical skills, not as founders building companies on US soil.But Kanwal and his co-founders decided to bet on themselves. They faced rejection from nearly 50 investors before one VC agreed to invest $2 million for 50% of the company. In just five years, the company went public.From being appointed CEO overnight to being removed by the board two months before the IPO for a more “wall street-acceptable” CEO, this is a story of many firsts.After Excelan, Kanwal co-founded TiE in 1992 and has mentored tens of thousands of entrepreneurs. Beyond a personal story, Kanwal Rekhi is a turning point in how Indian founders came to be seen in Silicon Valley.0:00 – Trailer01:11 – How TiE was formed07:11 – DoT Hatao, Desh Bachao11:31 – Career opportunities in the 70s13:41 – When Indians weren’t trusted to build companies15:44 – Pioneers in computer networking16:51 – Finding an Investor after 50 rejections20:31 – Becoming CEO overnight23:29 – Spare the story, show the numbers24:17 – The “Wall Street acceptable” CEO for IPO27:30 – Founders have to be financial thinkers28:14 – How Excelan could go public in just 5 years29:27 – Cost is unrelated to pricing in software31:12 – Do Indian companies need Americans to lead?34:05 – Benefits of registering in the US36:53 – $1 trillion to solve India’s problems40:49 – Policies for India’s startup ecosystem42:01 – Enabling entrepreneurs in villages44:41 – India in the 80s v/s today50:36 – US vs India vs China01:04:52 – How did IITs start allowing donations?01:07:25 – AI investments of Silicon Valley Quad01:18:29 – What Kanwal Rekhi looks for in founders?-------------India’s talent has built the world’s tech—now it’s time to lead it.This mission goes beyond startups. It’s about shifting the center of gravity in global tech to include the brilliance rising from India.What is Neon Fund?We invest in seed and early-stage founders from India and the diaspora building world-class Enterprise AI companies. We bring capital, conviction, and a community that’s done it before.Subscribe for real founder stories, investor perspectives, economist breakdowns, and a behind-the-scenes look at how we’re doing it all at Neon.-------------Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7-------------This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.Send us a text

Where did the journey of iD Fresh start?It began when a 19-year-old Abdul Nazer decided to run away from home to Bangalore with ₹100 in his pocket. He did any job that came his way: cook, cleaner, conductor and sold anything he could, from clothes and vegetables to spices and peanuts. Along the way, he brought his three brothers to Bangalore.Even with huge losses in business, they never stopped looking for new opportunities. Their first real glimpse of success came from a tea stall run out of a rented room that cost ₹80 a month. Despite strong demand, the tea business was still running at a loss. The turning point came when they started opening the stall at 2 in the morning: a disruptive business model, says PC. Those ₹2 cups of tea taught them lessons they would carry forward.Abdul Nazer and PC Mustafa together share these stories for the first time. Their journey reminds us that no success is overnight, especially not for these brothers. It was at their kirana store in Indiranagar that the idea of iD Fresh was born. Five brothers with no background in food technology spent six months experimenting with recipes before finding their hero product. This is the story of five founders who pushed past their circumstances. Today, iD Fresh is at a scale the founders never dreamed of growing up in Wayanad. 00:00 – Trailer00:55 – Dropping out of studies02:32 – 19 Year Old that Runaway to Bangalore04:35 – First job as a cook11:25 – When Nazer decided to become an entrepreneur14:01 – Huge loss in Vegetable business16:15 – Starting the kirana store that led to iD18:00 – On the verge of shutting down20:10 – How Lambu Tea Stall became profitable24:16 – When PC decided to do business with Nazer25:14 – All the (failed) businesses that led to iD27:04 – Why PC decided to come back to India28:23 – The origin story of the idli batter idea31:40 – The first $50k investment32:57 – Cracking the batter without any food tech expertise34:38 – The first recipe that became iD’s hero product35:35 – Why iD failed to sell 100 packets in 6 Months41:15 – The first customer approval43:06 – Building awareness was the biggest challenge44:35 – Lack of cold storage in supermarkets45:22 – The inventory model of iD46:25 – How the initial team was built48:35 – Story of team spirit50:15 – When iD Fresh Chennai & Mumbai Failed52:27 – How the chemistry worked between the five brothers56:52 – The buyout offer of ₹20+ crores57:35 – How founders build the mindset to hire experts1:00:50 – Did the runaway child achieve his dream?1:03:09 – How Nazer’s choices directly led to iD1:04:45 – Building within value systems1:07:26 – Summary: what really worked for iD Fresh-------------India’s talent has built the world’s tech—now it’s time to lead it.This mission goes beyond startups. It’s about shifting the center of gravity in global tech to include the brilliance rising from India.What is Neon Fund?We invest in seed and early-stage founders from India and the diaspora building world-class Enterprise AI companies. We bring capital, conviction, and a community that’s done it before.Subscribe for real founder stories, investor perspectives, economist breakdowns, and a behind-the-scenes look at how we’re doing it all at Neon.-------------Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7-------------This video is for informational purposes only. The Send us a text

Best of 3500 Minutes in 45 Minutes2025 was a great year for The Neon Show. 60 episodes, 72 guests, and thousands of minutes of insightful conversations on everything around building a business.You’ll hear perspectives from Founders scaling companies across the world, sharing the real challenges behind building high-growth startups; Investors on how they spot opportunities and make bold bets; and Ecosystem leaders who have navigated multiple cycles and understand what truly lasts.This episode is a carefully curated highlight reel. The sharpest ideas, boldest bets, and timeless lessons that defined this year. Watch it for clear takeaways to carry into 2026 on building companies that last for decades.0:00 – Trailer01:26 – Paras Chopra03:37 – Avanish Bajaj06:53 – Vijay Rayapati08:33 – Ashu Garg11:39 – Kiran Darisi16:40 – Asha Jadeja20:33 – Sanjeev Bikhchandani23:22 – Alok Goyal26:41 – Shiv Shivumar29:34 – Saurya Prakash31:59 – Raviteja37:21 – Ashish Toshniwal43:54 – Bhaskar Gosh47:32 – Somesh Dash-------------India’s talent has built the world’s tech—now it’s time to lead it.This mission goes beyond startups. It’s about shifting the center of gravity in global tech to include the brilliance rising from India.What is Neon Fund?We invest in seed and early-stage founders from India and the diaspora building world-class Enterprise AI companies. We bring capital, conviction, and a community that’s done it before.Subscribe for real founder stories, investor perspectives, economist breakdowns, and a behind-the-scenes look at how we’re doing it all at Neon.-------------Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7-------------This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.Send us a text

Harish Bhat spent 38 years with the Tata Group, working across businesses that reach millions of Indians every day, including Titan, Tanishq, and Tata Tea.He joins Neon Show for a 3rd time and reflects on what it meant to build inside a 150+ year-old institution. The conversation begins in 1991, the year Ratan Tata took over as Chairman, a role he would hold for 21 years. Harish explains how Ratan Tata prepared Tata Sons at a time when the Indian economy was opening up and competition was changing rapidly.We discuss landmark moments in the group’s history, including the Tetley acquisition in 2000, the first time an Indian company acquired a major global consumer brand. Harish shares how this decision transformed not only the Tata Group’s mindset but also the way ambitious Indian businesses think about their potential.Harish speaks about Ratan Tata not as a distant icon, but as a leader he worked closely with. He shares stories of how decisions were made, how conflicts were handled, and why dignity, compassion, and keeping one’s word were always non-negotiable for Ratan Tata.The conversation also draws from his book Doing the Right Thing, where he transfers these experiences into practical lessons on leadership shaped over decades.https://www.amazon.in/Doing-Right-Thing-Bestselling-Tatastories/dp/014347985700:00 — Trailer01:07 — Paying tribute to Mr. Ratan Tata05:53 — The Tata family legacy06:53 — Early childhood and education of Ratan Tata07:48 — The decision to return to India08:44 — How Ratan Tata prepared the Group for a liberalised economy14:35 — How Tata Sons became a global business16:45 — The $450 million Tetley acquisition20:08 — Tata Group’s acquisition of Global Brands23:33 — A visionary leader who chose to remain deeply private25:04 — How Ratan Tata dealt with Conflict28:58 — Dignity above all31:29 — The only concern on renovation of Bombay House34:41 — How the Tata Group gives back to Mumbai39:44 — Four lessons from Ratan Tata’s Life42:50 — The deeper purpose that drives the Tata Group44:45 — Emotional gestures that speak to people’s hearts48:45 — Ratan Tata as a philanthropist51:26 — A life guided by the principle: “Do the right thing”53:06 — The story behind the book-------------India’s talent has built the world’s tech—now it’s time to lead it.This mission goes beyond startups. It’s about shifting the center of gravity in global tech to include the brilliance rising from India.What is Neon Fund?We invest in seed and early-stage founders from India and the diaspora building world-class Enterprise AI companies. We bring capital, conviction, and a community that’s done it before.Subscribe for real founder stories, investor perspectives, economist breakdowns, and a behind-the-scenes look at how we’re doing it all at Neon.-------------Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7-------------This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.Send us a text

Founders are often seen as superhumans. In this new series, we look at the humans behind the superhuman journey. The thrill of building, the guilt of missing out, the learnings, the failures, and why they still do it and would do it all over again.Arpita is a second-time founder, now building Mysa. Her first startup, Mech Mocha, was acquired by Flipkart. Ananda is the Co-Founder and CTO of Astra Security. They are building in two different spaces, finance and cybersecurity, but the journeys are similar, that of a founder.This is an unfiltered conversation between two founders about what building a company really looks like: the choices they didn’t make, the people who bet on them early, and how their identities, relationships, and sense of self changed along the way.This episode is for anyone who is building, thinking of building, or simply curious about what being a founder really feels like.0:00 – Becoming a Founder in 20s05:10 – The odd realities of being a founder young07:51 – Placements we got, but never took10:56 – Learning to ask for help as founders16:39 – The people who bet on you early23:05 – Co-founder dynamics as life partners25:40 – Handling co-founder conflict27:21 – Making it to Forbes 30 Under 3031:54 – How the PM award helped during house-hunting34:10 – Being a Topper is Not Important anymore35:45 – How close should founders be to their teams?37:40 – Why advice hasn’t worked much for me39:27 – Getting addicted to the thrill of being a founder41:27 – When a founder’s identity becomes tied to their company43:18 – Setting boundaries as founders43:40 – Why I don’t share my Instagram with my team44:07 – Realising that your team may not be forever49:10 – Startups are marathons, not sprints50:24 – Why founders need to be humanized53:43 – Living life in the limelight as a founder57:55 – Why work friends often don’t exist for founders59:09 – Would you do it all over again?01:01:36 – How family react when one decides to be a founder?01:02:32 – Is it easier the second time as a founder?01:03:27 – Why not knowing was actually a gift-------------India’s talent has built the world’s tech—now it’s time to lead it.This mission goes beyond startups. It’s about shifting the center of gravity in global tech to include the brilliance rising from India.What is Neon Fund?We invest in seed and early-stage founders from India and the diaspora building world-class Enterprise AI companies. We bring capital, conviction, and a community that’s done it before.Subscribe for real founder stories, investor perspectives, economist breakdowns, and a behind-the-scenes look at how we’re doing it all at Neon.-------------Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7-------------This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.Send us a text

In 1992, Roopa Kudva walked into CRISIL’s CEO Pradeep Shah’s office without an appointment, starting her 23-year career there. She spent over two decades at CRISIL, rising from analyst to CEO. Roopa has spent over 3 decades in leadership roles in India and has witnessed three key phases in India’s growth: the closed economy in the 80s, the post-liberalisation era, and the rise of tech entrepreneurs.She shares bold decisions that defined her journey. Like when she proposed to the then CRISIL CEO to create the Chief Ratings Officer role and pitched herself for it. She got the role, which set her on the path to becoming CEO. We also discuss the leaders who shaped her thinking, K.V. Kamath of ICICI, Piyush Gupta of DBS, and Katharine Graham of the Washington Post.Throughout the conversation, Roopa returns to one idea: there is no single leadership style or fixed playbook. Her journey shows how ambition and initiative to act at the right moment can define a career and the organizations one builds along the way.0:00 —Trailer01:21 — IIM to IDBI03:54 — Work Culture in the 80s05:58 — Rise of New-Age Companies06:55 — The Aha Moment of Leadership View08:52 — Leaving CRISIL After 23 Years10:49 — Choosing Omidyar & Impact Investing16:03 — India’s Evolving Risk Appetite20:40 — Deciding the Next Career Move26:08 — How She Got the CRISIL Job31:09 — Asking for the CRO Role35:48 — Promotions Are Bets on the Future37:37 — The Leader Who Changed Her Philosophy43:40 — ICICI as a Women-CEO Factory45:36 — What Holds Women Back from Rising51:38 — DBS: The Piyush Gupta Transformation55:06 — Entrepreneurs for the Next Half Billion1:02:47 — The New Indian Founder Profile-------------India’s talent has built the world’s tech—now it’s time to lead it.This mission goes beyond startups. It’s about shifting the center of gravity in global tech to include the brilliance rising from India.What is Neon Fund?We invest in seed and early-stage founders from India and the diaspora building world-class Enterprise AI companies. We bring capital, conviction, and a community that’s done it before.Subscribe for real founder stories, investor perspectives, economist breakdowns, and a behind-the-scenes look at how we’re doing it all at Neon.-------------Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7-------------This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.Send us a text

Most conversations in startups begin at zero: what’s the idea, who’s the customer, how big is the market. But the stage before that, when you know you’re ready to be a founder yet the direction is still completely undefined. That strange, uncomfortable, high-potential zone Aditya Agarwal calls “minus one.”In this episode, Aditya and Prateek Mehta breaks down what happens in this “figuring out” stage. The questions people avoid, the habits that matter, and why some of the best companies begin long before their founders have any conviction.We get into how this stage is evolving in the AI era. Exploration cycles are faster, technical founders can test more directions than ever, and the gap between “I’m experimenting” and “I’m running a real company” has narrowed. India’s builder ecosystem is shifting too: more second-time founders, more people with real outcomes behind them, and far more comfort sitting with ambiguity.Aditya shares his own minus-one moment after Facebook, his startup acquisition, Dropbox’s IPO, and Flipkart, and why that transitional period changed the way he thinks about early-stage startups. Prateek brings on-the-ground view from Bangalore, where ambition, technical depth, and the appetite to explore hard problems from robotics to voice models to AI infra are rising.This episode is for anyone who feels they’re between missions. Anyone who wants to understand why the most important part of building a company might actually be the time you spend before you even know what you’re building.00:00- Trailer01:06- Aditya’s journey to starting SPC after Facebook & Dropbox 03:48- A “learning club” for people in figuring-out stage06:23- 3 Northstars of the SPC community07:02- How SPC evolved from a community to a fund10:32- Not everyone should be a founder11:51- 1% selection rate13:53- Building conviction in 1 of 3 outcomes16:36- SPC is at PMF stage18:38- Mismatch of traditional VC’s v/s rapid pace startups19:04- How AI has impacted investing at SPC26:32- How AI has changed VC firms29:02- Axis of curiosity replacing thesis30:17- Star Companies of SPC US33:34- Binny Bansal’s role in starting SPC India37:16- Questions & confusions as founders in early stage39:50- Number of great entrepreneurs is NOT small41:49- Talent density in India vs Bay Area44:04- Founders don't need a culture of permission45:08- India tier 2 and 3 does invest heavily in AI46:11- AI is truly democratizing tech49:09- Math gives India advantage in AI51:48- A lot of science fiction is coming true-------------India’s talent has built the world’s tech—now it’s time to lead it.This mission goes beyond startups. It’s about shifting the center of gravity in global tech to include the brilliance rising from India.What is Neon Fund?We invest in seed and early-stage founders from India and the diaspora building world-class Enterprise AI companies. We bring capital, conviction, and a community that’s done it before.Subscribe for real founder stories, investor perspectives, economist breakdowns, and a behind-the-scenes look at how we’re doing it all at Neon.-------------Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7-------------This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.Send us a text

If you’re a startup selling to enterprises, understanding how a CIO discovers and evaluates you can change everything. Most founders believe that cold emails and polished decks drive attention, but Karthik Chakkarapani, CIO of Zuora shares that nearly 80% of the startups he evaluates are found through outbound - while researching solutions, through peers, or even on LinkedIn. For many startups, this alone can reshape how they think about go-to-market.How does an enterprise decide whether to buy from a startup or not? Karthik walks us through Zuora’s three-step buying process. It starts with understanding the problem the startup solves and how quickly the product can show value. If the early signals are strong, the next step is a deeper look at ROI, integration, security and whether the company is mature enough to be a long-term partner. The final stage is legal and procurement, which is where many early-stage startups slow down.If you’re building a startup, this episode offers a practical look into how CIOs think, how they make decisions and what it really takes to go from a first conversation to a signed contract.0:00 – Trailer0:53 – Buying process of startups05:19 – How Zuora’s SaaS portfolio looked 2 years ago09:00 – Inbound vs outbound10:53 – How initial contact with potential customers works13:34 – Startups should be thought partners16:57 – How long it takes to create value for customers19:59 – Where startups draw the line in growth vs efficiency23:06 – Top 5 largest spends24:01 – Why only 1-year contracts for new AI startups?26:12 – Why legal & procurement struggle to understand startups29:46 – 20% of portfolio is 0–5 year old companies30:46 – Are startups not backed by VCs a red flag?34:29 – 60% in growth + 40% in day-to-day37:42 – Learnings from peer CIOs41:38 – Featurely: Case Study45:14 – Atomicwork: Case Study46:55 – Trupeer: Case Study47:51 – How Zuora uses OpenAI & Anthropic49:39 – How AI is helping personal productivity51:26 – How agents will be managed54:02 – Number of SaaS apps will go down, agents will go up55:45 – Building the right security for AI56:31 – India vs US: where founders are building from-------------India’s talent has built the world’s tech—now it’s time to lead it.This mission goes beyond startups. It’s about shifting the center of gravity in global tech to include the brilliance rising from India.What is Neon Fund?We invest in seed and early-stage founders from India and the diaspora building world-class Enterprise AI companies. We bring capital, conviction, and a community that’s done it before.Subscribe for real founder stories, investor perspectives, economist breakdowns, and a behind-the-scenes look at how we’re doing it all at Neon.-------------Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7-------------This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.Send us a text

In this engaging discussion, Bhaskar Ghosh, a Partner at 8VC and former engineering lead with 20+ years in Silicon Valley, delves into the transformative impact of AI on India's vast IT services landscape. He highlights the automation of traditional workflows, from call centers to insurance, emphasizing that AI can enhance productivity and redefine service models. Bhaskar also explores the future of AI-enabled services, questioning whether they can scale like SaaS and revealing insights into buying legacy services to drive innovation.