TechCrunch famous every week in the past that an investor in Coupa was sounding the alarm that the software program firm could be bought to personal fairness for a value beneath what the cash supervisor felt was truthful. The plea went unanswered, with Coupa promoting for a reduction to what the investor had demanded at the least, we reported this morning.
That the deal occurred so rapidly after the warning is no surprise. The investor in query wouldn’t have tried to make unseemly public noise until one thing was imminent. That the deal bought accomplished on the value it did, nevertheless, is notable. How come? As a result of non-public fairness has more cash than god and tech is cheaper than it has been in ages.
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The mixture, in mild of the Coupa sale, makes us marvel if tech is about to find itself amid a fireplace sale — a state of affairs the place the stability of energy is just not in its arms. This might apply to public tech corporations and those who have but to tug the set off on an IPO for one purpose or one other. Neither cohort is in nice valuations form, making them equally susceptible.