-68%

est. 2Y upside i

DevOps & InfraSeries A

Rank

#1352

Sector

Developer Tools, Backend-as-a-Service

Est. Liquidity

~5Y

Data Quality

Data: Medium

Appwrite presents a moderate upside opportunity for a job seeker, with an estimated 71% expected return over a two-year horizon.

Last updated: March 10, 2026

Bull (20%)+350%

Appwrite successfully leverages its open-source community and new AI platform ('Imagine') to rapidly expand its market share, particularly in niche segments underserved by incumbents. Revenue grows to over $220M by 2028, justifying a $680M+ valuation at a premium multiple, significantly outpacing the current $150M valuation.

Base (35%)+100%

Appwrite maintains steady growth, capturing a solid segment of the BaaS market by offering a compelling open-source alternative. It continues to grow its revenue at a healthy rate, reaching approximately $150M by 2028, leading to an exit or next funding round at a $300M valuation, doubling the current valuation.

Bear (45%)-75%

Intensified competition from Google's Firebase and other well-funded BaaS providers, coupled with pricing pressure from its new subscription model, significantly slows Appwrite's growth. The company struggles to achieve profitability, leading to a down round or an acquisition at a valuation of $37.5M or less, effectively wiping out most common stock value due to liquidation preferences.

Est. time to liquidity~5.0 years

Preference Stack Risk

high

Investors hold $37M in liquidation preferences. In an exit at the estimated current valuation of $150M, common shareholders would share $113M. If the exit is below $37M, common shareholders would receive little to nothing.

Dilution Risk

high

As a Series A company, Appwrite will likely require additional funding rounds, which will lead to further dilution of existing equity holders.

Secondary Liquidity

none

There is no indication of active secondary markets or tender offers for Appwrite's private shares at this stage.

View all 2 open roles at Appwrite →

Last updated: February 22, 2026

Questions to Ask at the Interview

Strategic questions based on Appwrite's data — designed to show you've done your homework.

  • 1

    “Given the strong competition from Google's Firebase, what are Appwrite's key differentiators beyond open-source, and how do you plan to convert community adoption into sustainable revenue growth?”

  • 2

    “With the recent changes to the pricing model and the introduction of the 'Scale plan,' how is Appwrite balancing monetization with its open-source ethos and ensuring continued growth among individual developers and smaller teams?”

  • 3

    “As a Series A company with $37M in funding, what is the anticipated timeline and strategy for future funding rounds or a liquidity event, and how does the company communicate equity value and potential dilution to employees?”

Community

Valuation Sentiment

Our model estimates -68% upside. What do you think?

Anonymous. Do not share material non-public information.

Community Discussion

Comments are reviewed before they appear publicly.

0/2000

Loading comments...

Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.