As the economy changes, what is the best client software? • TechCrunch

It is occupied time in tech, with billions of dollars of value incinerated in recent days: FTX is on the brink of death, while Twitter, recently sold at a price that no longer made sense once the deal is done, is collapsing or not towards insolvency, depending on how you look at recent comments from its new owner.

But while there are plenty of shiny things vying for our attention, the larger (and duller) world of B2B software is having a fascinating year. Remember that when COVID-19 first swept the world, there were doubts about the good performance of technology companies. These concerns were misplaced; It turns out that businesses of all sizes still needed technology solutions to run their operations, which meant that even though much of the economy was suffering, tech companies gained extra momentum.

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The market went a little overboard with the idea last year, pushing valuations into the stratosphere and betting that a slew of smaller tech companies were the next Microsoft when in reality the number of truly massive winners in a venture capital context will remain limited.

Either way, valuations have fallen and growth reported by some public tech companies has slowed. But looking at the third quarter results, it’s not too hard to see elements of strength amid warnings from executives that the economy could remain rather shaky in the coming quarters.

Investors are getting stricter with their ratings this year, so we’re getting more specific. Today, let’s take a look at some recent tech results — with a focus on raw retention — from companies selling to large and small businesses. We’ll also incorporate notes from a conversation with Appian’s CEO last week, as well as new data from GGV on SMB spend. It gives us a modestly comprehensive perspective on where the software market — which makes up a large part of the broader tech industry — currently stands, and where it might go next year.

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