Slack
Post# of 32627
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Posted On: 07/13/2021 11:30:21 AM
Longtime lurker and a long in VERB.
The two obvious exits here have always been a sale to either MSFT or CRM.
With the long awaited Outlook integration and the recent MSFT hire it now comes down to what MSFT thinks of VERB vs its own Streams offering.
The Slack case study is instructive in this regard. Slack went to PR war against Teams early and lost. Not that the PR war mattered all that much. MSFT had obviously made the decision to build instead of buy sealing Slack's fate.
The sale to CRM was still nice (26x forward sales) but they had to wait a very long time to exit at ~130k paid customers and $200M+ in gross rev.
For VERB, MSFT Streams is already fairly mature and struggling. MSFT could yet think VERB's core tech is good enough to cannibalize Streams.
If that happens we'll see an early-ish exit at a strong multiple in the high teens probably when gross sales are in the $10M to $20M range.
If they don't, we'll wait around for years while CRM or someone similar waits for the business case to build before making a move.
Just one fairly patient long's opinion.
The two obvious exits here have always been a sale to either MSFT or CRM.
With the long awaited Outlook integration and the recent MSFT hire it now comes down to what MSFT thinks of VERB vs its own Streams offering.
The Slack case study is instructive in this regard. Slack went to PR war against Teams early and lost. Not that the PR war mattered all that much. MSFT had obviously made the decision to build instead of buy sealing Slack's fate.
The sale to CRM was still nice (26x forward sales) but they had to wait a very long time to exit at ~130k paid customers and $200M+ in gross rev.
For VERB, MSFT Streams is already fairly mature and struggling. MSFT could yet think VERB's core tech is good enough to cannibalize Streams.
If that happens we'll see an early-ish exit at a strong multiple in the high teens probably when gross sales are in the $10M to $20M range.
If they don't, we'll wait around for years while CRM or someone similar waits for the business case to build before making a move.
Just one fairly patient long's opinion.
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