The emergence of hyper-scale Infrastructure as-a-Service (IaaS) platforms such as Amazon Web Services (AWS) is challenging the traditional Software-as-a-Service (SaaS) value proposition. SaaS CEOs, investors and SaaS buyers must carefully evaluate the implications of “all-in” migration to hyperscale IaaS platforms that offer value-added platform services that go beyond simple infrastructure services. This article provides a point of view and insights into changes in the SaaS market, which has three principal drivers 1) technical, 2) business, and 3) security and compliance.