We analysed all 16 companies that have publicly crossed $1B across AWS, Google Cloud and Microsoft Marketplaces, from first listing to first billion.​

Years from first listing to first $1B+ milestone

Listed around 2016

• Dynatrace ~10 years

• New Relic ~9.4 years

• Datadog ~9 years to $2B

​Listed 2017–2021

• Zscaler ~6.8 years

• CrowdStrike ~5.9 years

• Okta ~4 years

​Listed 2023–2024

• ServiceNow ~2 years

• Salesforce ~1.5 years to $2B

Salesforce reached $2B in 15% of the time Dynatrace took to reach $1B.

What the 2023 cohort inherited that the 2016 cohort had to invent

• Buyers who know how to spend down cloud commitments on Marketplaces

• Marketplace fees that keep falling. 15-20% now down to ~1.5-3% (renewal/new business). AWS just lowered fees for services to 0.5%

• Alliance leaders and sellers who now understand why and how to co-sell with the clouds

• Channel partners building services, resell and delivery using Marketplaces

• Automation layer where 5 years ago there were mostly spreadsheets and a shared inbox

Listing was never the hard part.

The GTM system can now be assembled instead of invented, and assembly is faster.

​The comparison isn’t perfect. Salesforce and ServiceNow grew faster because both arrived with an installed base and mature partner communities. They also prove marketplaces are not just for infra and data companies.

But the head start isn’t the whole story.

Okta reached $1B in about four years. Wiz did it in four from zero - no installed base, no legacy channel - and showed the market what Cloud GTM plus a real operating system underneath can do.

What is $1B Club

We’ve built a cross-cloud tracker of every ISV and channel partner past $1B.

Plus the report behind it:

• how commitments open the budget, how leaders won their own sellers before they won customers.

• where channel economics get designed into the deal,

• and how AI drives the next adoption layer.

September 8, 9–10:30 AM PT. Free online event

On September 8, we're launching The $1B Marketplace Club report and breaking down the five playbooks, seven hard questions, and key systems leaders used to drive scale.

Top leaders will share their lessons, including:

• Munish Khetrapal, VP Cloud, Palo Alto Networks

• Manesh Raveendran, CEO, Spektra SaaSify

• Stay tuned as we reveal more senior leaders from $1B Club, and AWS

Everyone who attends will receive the report.​