…as anyone who has been to one of my seminars knows, but the fact that Kayak has $200M to spend on a competitor SideStep is bubble-icious.
I dunno Dustin. The combined firm is $85mil in revenue, (presumably) growing at a strong clip, and a diverse product line. Only 60 employees so fantastically profitable.
That’s an attractive IPO. Assume they grow the top line to say $150mil next year. They go public at a lofty multiple, could be a $1bil exit. That pays off for everyone. Good for them.
I hear you Mike… No doubt that there is obviously some good business rational behind it (like you laid out), but by skepticism meter starts going off when a travel site that appears to make most of it’s money off of google ads (although there may be other revenue streams), starts needing a $1B valuation in order for investment models to pay off.