AppFolio Shows That Niche SaaS Ideas Are Big Business

Let’s play a quick game of “Which one of these does not belong?” Facebook. Amazon. Netflix. Google (Alphabet). AppFolio.

If you guessed AppFolio, congratulations. You are correct and we owe you a set of steak knives

Like the famed FANG group of stocks (FB, AMZN, NFLX, GOOGL), AppFolio (APPF) is a tech company. Unlike FANG, AppFolio is not a consumer-facing business servicing billions of people.