How Planet is different when it comes to it's growth, data, and future:
Although the business model of Planet, to launch a fleet of satellites into orbit and provide Earth data to subscribers, is simple, it has multiple compounding moats. I love moats. Marshall described the difficulty from a hardware standpoint. Planet has to design all the different components of the satellites, including its own radio design, camera design, power system, and more. The satellites must have ground stations around the world and mission control systems.
There are countless use cases and even types of data that subscribers could get from satellite imagery of Earth. Some of these large verticals include agriculture, defense and intelligence, civil, mapping and internet, forestry, energy, finance, and insurance. Marshall also mentioned how useful the data is to Google. Marshall says that every time something is going out of date with its Maps, Google tasks Planet’s high-resolution satellites to take pictures. Google then automatically extracts out the image and updates the map. I think of use-cases like Google Maps and know that it is just the tip of the iceberg for Google. Marsi described what Planet is doing as making the whole Earth indexed and searchable.
If it hasn’t been made clear that Planet is lightyears ahead of the competition, understand that it is not slowing down and continuing to grow. Marshall mentioned that the pipeline of Planet has grown by 45% YoY. It has also doubled its sales reps from 21, giving Planet its 100 million in revenue last year to just over 40. Another marker of growth is seeing Planet build more applications and software.
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