Despite this being a short week coming off Labor Day, it was quite eventful on our end, especially with one of many fires raging up and down the West Coast igniting uncomfortably close to our home base in Monrovia. We are thankful for all the first responders fighting to keep our collective communities out of harm’s way.
Read MoreCoupa Software (COUP) was active on a number of fronts, reporting a strong start to its FY ’21, pricing an upsized convertible debt offering and acquiring BELLIN Group to extend its reach into treasury management. New bookings were back-end loaded with April exhibiting improvement over March, but renewals remained consistent with prior quarters and expansion with existing customers was above historical rates.
Read MoreInitial unemployment claims in the U.S. doubled from the week prior to a whopping 6.6 million as COVID-19 continues to wreak havoc on the economy. The heightened uncertainty prompted a number of responses from several software companies this week, many of whom have now withdrawn guidance for the year.
Read MoreWith the holiday season upon us and a new year fast approaching, we were hit by a blizzard of news this week. After formally announcing a review of strategic alternatives in mid-November and cancelling a financial analyst day previously scheduled for this past week, Instructure (INST) agreed to be taken private by Thoma Bravo for $47.60 per share in cash, representing a TTM EV/Sales multiple of 7.6x.
Read MoreDespite the short week post-Labor Day, there was much to absorb with a slew of companies reporting results, a number of notable acquisitions, and a couple of secondary offerings in the mix.
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