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Posted On: 08/09/2023 9:57:14 PM
Post# of 32970
You may recall the news release this last June: VERB SELLS ITS DIRECT SALES BUSINESS ASSETS TO FOCUS ON ITS MARKET.LIVE LIVESTREAM SHOPPING BUSINESS
https://ir.verb.tech/news-events/press-releas...cus-on-its
According to the PR, the deal was executed on June 13th with Scaleworks. Looking at their site, one of the frequently asked questions was "How long does your process generally take?". They are referring to time it takes to complete the venture equity of a company they invest in.
"Generally any slow-down is on the company side as they prepare diligence information they may not have on hand. From first call to term sheet can be as quick as 2 weeks, and from term sheet to close, between 30 and 60 days on average."
That means we could hear more news on this any day now. 60 days would put it around the 14th of August. Might be sometime next week around the time of the release of the Q2 information.
More about Scaleworks:
"We call our Common Sense approach Venture Equity.
Venture Equity is a hands on operational model where we take substantial positions in our investments, focus on markets we can lead in, and bring together teams of experienced B2B SaaS operators to help us get there. It puts businesses in a strong position to succeed, using low to no debt and reinvesting every dollar of profit back into growth."
https://www.scaleworks.com/how-we-operate
https://ir.verb.tech/news-events/press-releas...cus-on-its
According to the PR, the deal was executed on June 13th with Scaleworks. Looking at their site, one of the frequently asked questions was "How long does your process generally take?". They are referring to time it takes to complete the venture equity of a company they invest in.
"Generally any slow-down is on the company side as they prepare diligence information they may not have on hand. From first call to term sheet can be as quick as 2 weeks, and from term sheet to close, between 30 and 60 days on average."
That means we could hear more news on this any day now. 60 days would put it around the 14th of August. Might be sometime next week around the time of the release of the Q2 information.
More about Scaleworks:
"We call our Common Sense approach Venture Equity.
Venture Equity is a hands on operational model where we take substantial positions in our investments, focus on markets we can lead in, and bring together teams of experienced B2B SaaS operators to help us get there. It puts businesses in a strong position to succeed, using low to no debt and reinvesting every dollar of profit back into growth."
https://www.scaleworks.com/how-we-operate
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