61–70 of 118 posts
IMO, they buy companies, lay off en masse and sell the now sunsetted products. Reminiscent of "Chainsaw" Al Dunlap, but he gutted and then flipped whole companies. I think of them as the bakery outlet store that sells only stale goods.
I'm old enough to have been acquired by Computer Associates at a company that acquired my company. CA's business model was to buy companies and then fold their products into an omnibus license, all of their customers, including the ones they just acquired, becoming involuntary licensees whatever the cat dragged in this quarter. It turns out a lot of corporate IT has no idea how to switch vendors in case a product the…
This always shocks me. I moved a company off of Salesforce in 45 days without a big issue. Day 1 was a bit slower but by day 2 folks were back at full speed. I've pulled off EMR migrations, ERP, accounting, etc. Moving is scary but doable.
Sometimes the execs will just pay rather than risk anything. At my last job I spent 7 months researching and building a migration plan for an app that was literally costing us customers/patients because it was so bad. Came back with a plan to move to a better system (of of 38 I researched), 6 month implementation, $800k/yr savings directly, another $400k indirectly from other tools we could cancel because the new tool would do all of that. The board ignored me and the rest of the C-suite, and went back to the vendor and signed a new agreement that INCREASED the yearly bill from $1.2m to $1.8m/yr. They completely cut me out of all the negotiations, I didn't even know it was happening, and I was the CIO. I quit, and they're now being sold at a firesale price.
IMO, they buy companies, lay off en masse and sell the now sunsetted products. Reminiscent of "Chainsaw" Al Dunlap, but he gutted and then flipped whole companies. I think of them as the bakery outlet store that sells only stale goods.
It turned out that I have grown out of Evernote anyway, so no big loss.
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You're mixing up the numbers. Their annual run rate is $2.4 billion. Revenue grew 140% YoY. That's an 8x sales multiple on good growth. The valuation is not egregious.
Sorry I meant profit. On a 5% interest, you get 1bn (pure profit with no risks) per year for a 20bn of capital. Their revenue grew 140% YoY but does that account for new acquisitions? Also, their profit needs to grow x10 in order to match bonds. It may have made sense in a 0% interest rate world but not at 5.
Their strategy always was "buy company" and "instantly lay off about everyone" to save costs and rapidly increase subscription pricing (1). So far they've been relatively soft (for their doing) on Komoot, which I too am most anxious off. Bikepacking.com has a good read about Komoot; it was probably unsustainable in the long run before bending spoons took over anyways (2), yet I much rather had they stayed a sort of i…
You can imagine all of these moderately successful SAAS companies that see peak subscribers starting to fall off on top of legacy tech stacks and no will to make drastic steps to get back to growth and understand why they sell. I've never seen BS as specifically ruining companies (although they've certainly been known to jack up prices for the remaining subscribers) but it's not a good sign when they do buy something…
I'm old enough to have been acquired by Computer Associates at a company that acquired my company. CA's business model was to buy companies and then fold their products into an omnibus license, all of their customers, including the ones they just acquired, becoming involuntary licensees whatever the cat dragged in this quarter. It turns out a lot of corporate IT has no idea how to switch vendors in case a product the…
> It turns out a lot of corporate IT has no idea how to switch vendors in case a product they use gets acquired by a company with this business model. This always shocks me. I moved a company off of Salesforce in 45 days without a big issue. Day 1 was a bit slower but by day 2 folks were back at full speed. I've pulled off EMR migrations, ERP, accounting, etc. Moving is scary but doable. Sometimes the execs will just…
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I see a lot of people using https://luma.com/ . I'm sure it's not as big as Meetup but it does have a decent community of users, and you can set up pretty much anything with their free plan.
I had a good giggle when I opened their homepage and it looks exactly like the Performative-UI library[1] currently in the #1 spot.
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> It turns out a lot of corporate IT has no idea how to switch vendors in case a product they use gets acquired by a company with this business model. This always shocks me. I moved a company off of Salesforce in 45 days without a big issue. Day 1 was a bit slower but by day 2 folks were back at full speed. I've pulled off EMR migrations, ERP, accounting, etc. Moving is scary but doable. Sometimes the execs will just…
Curious what did you move them into from SF? SF is usually treated as this infallible perfect piece of software by non-tech folks, especially those looking to pad their resumes.
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> despite the naysayers, they improve things a bit on most of their acquisitions There seem to be quite a few commenters stating the exact opposite, with concrete examples in hand (especially for Komoot). Do you have experience with any of the services they've bought, and can say how they've been improved?
Not the OP, but from a stock market perspective, improvement can mean "lay off workers, and raise subscription prices". Not good for the users, but good for the kinds of people who like reading news about IPOs.
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Partiful feels like it has replaced Facebook Events, Meetup, and the other formerly-popular hubs for in-person event planning.
Hmm, didn't know of Partiful. Quick look at landing page, seems more geared to parties and more social media-y? Meetup's event listing was good as it was; well, before they started charging for you to even see who's attending.