Thoma / Coupa
Taking a look at Thoma’s acquisition of Coupa earlier this year, anyone know wtf they were thinking valuing this company at 8bn? Even being generous with add-backsis around 40mm for 2022 - you’re telling me they threw a 200x multiple, a 77% premium on it and called it a day?
I get that it’s an amazing company and quickly growing but even the most optimistic growth prospects IMO don’t come close to. I guess if you’re using Rev multiples it comes back to earth a little bit, but still think this is an outrageous valuation. If anyone could chime in here that’d be helpful, probably something I’m not seeing.