CBInsights recently published a deep dive of Google’s current strategy. At 90% share of the search market, Google dominates today – but what about tomorrow? This piece does a great job of describing Google’s current strategies based on published materials, execs speeches, earnings calls, and public filings. The post includes: Alphabet’s structure and background Google’s […]
Private equity EV/Revenue multiples have increased 70% since 2000. They averaged 10.3x for the first three quarters of 2018 versus 6.6x in 2000. AS a result of these higher valuation expectations, the traditional private equity playbook of acquire, cost restructuring, and flip based on financial engineering are being disrupted by growth equity PE players like Vista who demonstrated the success of this model through the acquisition and sale of Marketo. Vista acquired a struggling Marketo in 2016 for $1.75B, improved it, and sold to Adobe a little more than two years later for $4.75B.
A post about how Vista Equity’s $1.79 billion purchase of Marketo turned into a $4.75 billion exit to Adobe in a little more than two years. They didn’t use the tradition tech private equity playbook.