Markets
Calcalist: 'SaaS Is Dying as a Business Category' — Israeli SaaS Giants Wix (-66%) and Monday.com (-60%) Crushed
Calcalist's tech division reports that the SaaS index fell 6.5% while the S&P 500 rose 17.6%, and Israeli SaaS flagships have been devastated: Wix plummeted 66% in one year to $4.2B and Monday.com crashed 60% in six months to $5.2B. DTCP managing director Dean Shahar stated that entrepreneurs approaching VCs with SaaS-only startups 'won't even reach the pitch stage.' This isn't framed as a correction but as a category crisis — software survives, SaaS as a business model category does not.
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