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When Adobe announced its transition, its stock was trading at around $25. Its income fell by almost 35 percent the following year. Today Adobe’s stock is trading at over $190, it’s growing at 25 percent a year, and it has roughly $5 billion in ARR (up from practically none in 2011). Over 70 percent of its total revenue is recurring. Amazing.
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Tien Tzuo (Subscribed: Why the Subscription Model Will Be Your Company's Future - and What to Do About It)