Thryv Holdings began trading yesterday on the Nasdaq exchange as “THRY”. This is an important marker for a company that has successfully pivoted from Yellow Pages publisher to a leader in small business Saas.
“Today marks a major milestone in Thryv’s history at a time when our services are more essential than ever before,” said Chief Executive Officer of Thryv, Joe Walsh, said in a statement yesterday. “The global pandemic has impacted businesses of all sizes and stature. But we believe Thryv’s innovative solutions have been effective in driving increased operational efficiencies to the small and midsize business market.
“I am immensely proud of what Thryv has achieved thus far and look forward to continuing to capitalize on future opportunities.”
My Localogy colleague Neal Polachek recently did an analysis of Thryv’s S-1 statement in the lead up to its direct listing this week. From his analysis:
“One really substantive cultural change the company has had to process involved moving away from the old print Yellow Pages model. In that world, customers signed contracts, and once the book was published, there was little re-engagement with the customer. Until it was time to renew the contract a year later that is. The salesforce just moved on to the next market. Success in the SaaS world requires an entirely different mindset and culture, one where customer engagement really begins once the customer signs an agreement for the SaaS solution. These very different approaches required considerable attention and disciple to make the necessary transition permanent.”