You're looking at domain 'tomtunguz.com' on the commercial generic top-level domain (.com) and has no subdomain. Count 9 characters in 'tomtunguz' holding three vowels versus 6 consonants. Word splitting yields 3 words: tom, tung, uz. Median word length comes out to 3 characters. No strong language cues emerged from the frequency lists.

html/79/e9/79e958a2-8d61-4f45-8795-ef4b776b986e.html.gz

f85330748e2c1c3028b66cebc54f04f416d2ca6a6d5c164972af887cc58f8299

9f897972116b0ad0d7294fd664379c6c6c5321ab27f703591f1fba0d70fe75dc

60ba5cda94a773cd8bfbc10e5b0dd14afe6287142883a10a2afc2fd333cbea66

0b3bd58c3eec6487784fd2b9c3e7cf2ccddc5fae70738454393bcf6738119429

186e3d59b89edf707f37a134554823f7e7d60929839a1f614d95dc2f02d83c74

4d30a6d9d2e24f2fe8de4ffe0dd2f2c1de4867adbb040d955bd13adbac03608f

384420ca5599a4c39a15e3c335fcd066718b35c8293a34823b1332680ad1d683

243641600bc64e29a3813b23350d9046e2752662ce6156538d7d96081bf65be1

0ccacc4537d8bae155794fbe1213af71aa85b7d2722fffb6dbe04f14dc8016a7

html/79/e9/79e958a2-8d61-4f45-8795-ef4b776b986e_nodriver.html.gz

Motive S-1 Analysis: How 7 Key Metrics Stack Up | Tomasz Tunguz

Squarespace Domains II LLC

TOMTUNGUZ.COM

"Motive, the AI-powered fleet management company formerly known as KeepTruckin, filed their S-1.\nFounded in 2013 by Shoaib Makani, Ryan Johns, \u0026amp; Obaid Khan, the company has grown from an electronic logging device (ELD)1 compliance tool into a comprehensive physical operations platform serving nearly 100,000 customers across trucking, construction, oil \u0026amp; gas, \u0026amp; manufacturing.\nMotive\u0026rsquo;s platform has since expanded beyond compliance to combine AI-powered dashcams for driver safety, GPS tracking for real-time visibility, \u0026amp; spend management cards to control costs. This suite acts as a central operating system for physical economy businesses, unifying data from vehicles, drivers, \u0026amp; equipment into a single interface.\nMetric Motive (2025) Samsara (at IPO) ARR $501M $492M ARR Growth 27% 76% Gross Margin 70% 70% Core Customers (\u0026gt;$7.5k / \u0026gt;$5k) 9,201 13,000+ Large Customers (\u0026gt;$100k) 494 715 Core NDR 110% 115% Large NDR 126% \u0026gt;125% Net Income Margin -42% -34% Employees 4,508 ~1,500 ARR / Employee $111k $328k ACV (Large \u0026gt;$100k)2 $375k $303k ACV (Total) $5k $17k Equity Raised $600M $930M Both companies achieved roughly $500m in ARR at the time of IPO.\nSamsara grew 76% annually at IPO compared to Motive\u0026rsquo;s 27%. This growth was fueled by higher sales efficiency, likely driven by deal size; Samsara\u0026rsquo;s average contract value (ACV) of $17k was more than three times Motive\u0026rsquo;s $5k.\nThis disparity likely stems from different initial go-to-market strategies. Motive initially focused on the SMB segment (specifically owner-operators \u0026amp; small fleets needing a cost-effective compliance solution for the ELD mandate), building a massive base of smaller customers.\nMotive\u0026rsquo;s ACV of $5k closely mirrors Fleetmatics\u0026rsquo;3 ACV of $6.8k at its IPO, confirming Motive joined Fleetmatics as a high-volume SMB player, but with modern AI capabilities. In contrast, Samsara targeted mid-market industrial operations from the start.\nWhile legacy players like Geotab \u0026amp; Verizon Connect (Fleetmatics) maintain large installed bases, Samsara \u0026amp; Motive are capturing share with modern, AI-first platforms.\nCompany Revenue / ARR Connected Assets Status Geotab $1B (Est) 5M+ Market Share Leader Samsara $1.52B (LTM) 2M+ Revenue Leader Verizon Connect $600M+ (Est) 2M+ Incumbent Motive $501M (ARR) 500k+ Challenger Motive\u0026rsquo;s customer metrics reveal an enterprise-focused growth strategy. Large customers (\u0026gt;$100k ARR) grew 58% year-over-year, from 312 to 494. This 58% growth in large accounts compares favorably to Samsara, which grew its $100k+ customer count 48% year-over-year at the time of its IPO.\nMotive\u0026rsquo;s enterprise accounts grow at 126% net dollar retention, meaning the average large customer spends 26% more each year. The company is successfully landing \u0026amp; expanding within enterprise accounts.\nCore customers grew at 17%, from 7,875 to 9,201.\nBoth companies maintain similar 70% gross margins, impressive for businesses that ship hardware with their software. This positions them at the median for public SaaS companies, despite the hardware component.\nThe profitability picture differs. Motive\u0026rsquo;s net loss margin expanded from -35% in 2023 to -42% in the most recent period, while Samsara improved from -100% to -34% in the nine months before its IPO. Samsara\u0026rsquo;s improvement was driven by operating leverage : revenue grew 108% while sales \u0026amp; marketing expenses increased 11%.\nDespite similar gross margins, Motive\u0026rsquo;s bottom line is weighed down by significantly higher \u0026ldquo;Other Expense\u0026rdquo; ($57M in the last nine months). This figure includes $22M in interest expense on approximately $300M of term debt, with the remainder driven by non-cash charges related to convertible securities.\nSamsara generated $328k in ARR per employee at IPO. Motive generates $111k, roughly one-third. With 4,508 employees versus Samsara\u0026rsquo;s 1,500 at IPO, Motive has built a much larger organization to achieve similar scale, with about 3.2k employees in Pakistan.\nSamsara trades at approximately 14x forward revenue, roughly in line with other vertical SaaS companies.\nMotive has raised $600 million from Kleiner Perkins, GV, BlackRock, \u0026amp; others at a $2.85 billion valuation. With $500M in ARR, that implies a roughly 6x ARR multiple in the private markets.\nDespite Motive having raised approximately $600 million in equity capital, Samsara\u0026rsquo;s path to IPO was significantly more capital-intensive, with over $930 million raised pre-IPO. However, Motive\u0026rsquo;s reliance on debt, holding roughly $300 million in term loans, partially offsets this difference in total capitalization, highlighting contrasting financing strategies between the two leaders.\nGiven these factors, what is Motive worth? Using an interaction model4, which is a refinement on the initial linear model, the analysis implies a valuation of approximately $3.7 billion.\nCongratulations to the Motive team on reaching this milestone. Building a $500M ARR business in physical operations is no small feat, especially in a competitive market.\nAn ELD is a hardware sensor that connects to a vehicle\u0026rsquo;s engine to track driving hours, a requirement mandated by federal law for safety.\u0026#160;\u0026#x21a9;\u0026#xfe0e;\nACV for Large Customers is calculated by dividing the ARR segment share (37% for Motive, 44% for Samsara) by the reported large customer counts (494 \u0026amp; 715, respectively) as disclosed in the filings. All other figures are pulled directly from the S-1 \u0026amp; IPO prospectuses.\u0026#160;\u0026#x21a9;\u0026#xfe0e;\nVerizon acquired Fleetmatics in 2016 for $2.4 billion in cash, representing a roughly 7.0x forward revenue multiple.\u0026#160;\u0026#x21a9;\u0026#xfe0e;\nUpdated on Dec 30, 2025. The valuation model uses an Interaction Model (Growth × Margin) which improved statistical fit (R-squared 0.35 → 0.41). The model assumes a 27% forward growth rate (consistent with reported ARR growth) and a -42% net income margin. For comparison, the most recent nine-month historical GAAP results show 21.7% revenue growth and a -42.3% net income margin. The final valuation is derived by applying the predicted multiple to Motive\u0026rsquo;s estimated NTM revenue (Current ARR × (1 + Growth/2)).\u0026#160;\u0026#x21a9;\u0026#xfe0e;\n"

Analyze Motive's IPO metrics: $501M ARR, 70% gross margin, and 126% enterprise NDR. Key benchmarks for fleet management challenger vs Samsara at IPO.

Motive S-1 Analysis: How 7 Key Metrics Stack Up

Tomasz Tunguz

Motive S-1 Analysis: How 7 Key Metrics Stack Up - Data Analysis

Home

Post

s 1 analysis

Articles related to Motive S-1 Analysis: How 7 Key Metrics Stack Up

Analyze Amplitude's S-1 metrics: 49.7% revenue growth, 119% net retention, and $98.6K ACV reveal a strong enterprise SaaS player in the analytics market.

Benchmarking Amplitude's S-1: How 7 Key Metrics Stack Up

Analyze Slack's meteoric growth from gaming startup to $401M revenue leader. Key SaaS metrics vs Zoom reveal insights on enterprise collaboration success.

Benchmarking Slack's S-1: How 7 Key Metrics Stack Up

Analyze Tableau's unique SaaS business model: From perpetual licenses to enterprise deals. Key benchmarks and data from their S-1 for startup founders.

Benchmarking Tableau's S-1 - How 7 Key SaaS Metrics Stack Up

What are Motive's key IPO metrics?

How does Motive compare to Samsara at IPO?

What is Motive's ARR and growth rate?

What does Motive's S-1 reveal about its business model?

How does Motive's efficiency compare to Samsara?

General Partner at Theory Ventures, focusing on AI-first companies and data-driven startups. Author of popular blog on SaaS metrics and venture capital trends.

IP Address	Location	AS Autonomous System
74.125.206.156	Unknown	Unknown
3.150.192.252	Unknown	Unknown
142.250.186.99	Unknown	Unknown
172.64.149.80	Unknown	Unknown
104.19.253.91	Unknown	Unknown
216.58.206.40	Unknown	Unknown
23.58.108.76	Unknown	Unknown
142.250.186.138	Unknown	Unknown
104.18.38.176	Unknown	Unknown
74.125.206.154	Unknown	Unknown
17	-	-

Security Scan Report: tomtunguz.com

Summary

AI Security Verdict

Safe Website

Safety Factors

Details

Screenshot

Page Load Overview

Domain & IP Information

Detected Technologies6

Scan History