It’s been mere days since the collapse of Silicon Valley Bank (SVB), and yet so much has unfolded – from the breaking news, to social media chatter, speculation, and debate, to the government stepping in to stabilize the situation. It’s been a whirlwind to say the least.
SVB has been a wonderful partner to so many tech companies and startups, including G2 and many of our customers. It fueled the growth of all my prior startups and our entire entrepreneurial and VC community over the past 40 years. My heart goes out to all those impacted.
At G2, we’re fortunate that our business is safe, and we want to support our customers in any way we can. As a tech founder who has navigated multiple economic downturns and financial crises, I’m optimistic about the outcome of all of this. However, that’s not to downplay the impact being felt. Many businesses are still navigating how to pay their employees’ payroll, their office rent, or their vendors.
For any customers that find themselves in this situation, we don’t want them worrying about paying us on time. Therefore, we’ve relaxed our terms so that any late payments will not be penalized. This means delayed payments will not incur fees and accounts will not be shut down because of these delays. We hope this helps our customers keep things running as smoothly as possible for their business and they can focus on their employees.
While it’s been an extremely stressful time for so many of us during the past few days, it has been uplifting to see our team, investors, and the entire tech community rally together to support each other. Timely enough, resilience was the theme of our internal FY24 G2 Kickoff just a couple weeks back. As a global organization, we spent time discussing difficult situations we’ve overcome in the past, what resilience means to us, and how we will band together to persevere during uncertain economic times to emerge even stronger. These words resonate even more now.
To those doing what they can to support the tech community, thank you. And to those needing support, know we’ll get through this. If there is anything else we can do at G2 – or me personally – to help, please let me know. Sending love and support to all. Our resilience will help us make it through.
It’s been a record summer for G2. In case you missed it, we announced our $157M Series D raise...
by Godard Abel
Every year, it’s essential to look back on what you’ve accomplished, to take stock of your...
by Godard Abel
Last year, we celebrated G2’s 10-year anniversary. Now, we’d like to celebrate two individuals...
by Godard Abel