Eran Zinman: Yes. This is — thanks, Arjun. This is Eran. So I think you made a great point. Obviously, those products are obviously more new than the work management product. So we are more focused on seeing how existing customers can move from work management to CRM or death. But one thing that we’re really focused on from the very beginning was to make those products also a substantial go-to-market for us as a company. That was our initial focus. So definitely, going forward, we’ll see accounts moving from CRM to work management. And going back to our strategy, I think it really helps us as a company in two ways. One, really extends our go-to-market. So instead of having just one, which is work management. Now we have multiples of both CRM and work management.
But also, it allows us to have a greater ACV for customers. So you can buy customer, but the potential revenue, potential expansion is not limited only to that specific vertical, but to have mutual products on top of that. So I think that creates a big opportunity for us in terms of go-to-market. And going forward, we’ll see the other way around people moving from CRM to work management as well.
Operator: Next question comes from Derrick Wood with TD Cowen.
Derrick Wood: You guys mentioned that you launched the AI assistant this quarter. Can you just talk about what the initial interest has been? And then just remind us how you’re thinking about the approach to monetizing AI down the road?
Roy Mann: So we have taken several layer approach to AI, where we started with like adding a layer to the platform to the entire platform that you can add any AI capabilities you want to any section of the product. And we released a few examples for it, like formula builder and like auto complete stuff and those kind of things. The reaction we got from the marketplace actually from developers was amazing because we had like 1,600 people sign up for hackathon and a lot of apps are being built right now. And we were hoping to launch new going forward. I think it’s very early days, and we see a lot of customer interest in those areas. And we feel it’s a journey ahead that will take, and we’re really committed to AI. And even adding more stuff going forward, with AI as really it’s like the place for us to give more power to people to control how they manage their business.
Derrick Wood: Got it, that’s helpful. I guess just staying on product discussion. Now that you’re through 1.0 of Monday DB, what’s the next phase, I guess, the 2.0, can you just give us some color as to what things we should be expecting out of 2.0 and what that time line may look like?
Eran Zinman: Yes. First of all, we have a complete time line on our website, which we share with our customers as well. But overall, Nexa, which is the Monday DB 1.1 is going to be released in Q4. This year, the focus is going to be on large dashboards. Just as a reminder, dashboard contains data from multiple boards. So that will go through a radical transformation in terms of performance and capability. And then we plan another minor release of Monday DB 1.2, which is going to focus on our API and [Indiscernible] filter and sort aggregation. Going into next year 2024, we’re going to do a major release of Monday 2.0, which will be a really game changer in terms of accommodating larger and larger accounts. And we’re going to focus a lot on just sheer size of databases and accommodating very large enterprise accounts.
So we have a lot of releases in the pipeline, but having Monday DB 1.0 already released is, I think, the most significant part because now all customers are using a new engine and incremental releases are going to be much easier to get out in to our customers.
