Need a virtual data room...Best Value?

Genetic
Rank: Senior Baboon | banana points 184

I was chosen to head up a small cap deal, and we are in the beginning of the execution phase. I've done some research but it takes a lot of time to call all these different sites to get quotes, and I've got ridiculous amounts of work to do. Some are superior to others, but those are usually very pricey. I'd like to find a very professional site, but also good value.

Any of you monkeys know of sites that aren't crazy expensive but still offer quality service? Had any personal experience to vouch? Any advice would be appreciated.

Thanks guise

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Comments (46)

Apr 17, 2012

Dropbox or FilesAnywhere

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Apr 17, 2012

Intralinks or merrill datasite are both good, and will usually give you a free trial if you've never used them before

Apr 17, 2012

Data room sales reps are on another level, they'll bug you quite a bit if they know you're looking. Proceed with caution, lol. Maybe even get a burner phone and a throwaway e-mail.

Intralinks and Merrill are awful suggestions. Very expensive. Some providers of comparable quality, but cheaper price include: Firmex, Deal Interactive, Ansarada (they'll deal), and Sharevault. Bowne/RR Donnelly would be slightly more expensive than those providers, but cheaper than Intra & Merrill. Depending on your needs, OneHub is a great solution. Much cheaper than anything I mentioned above. It's basically WatchDox with additional features commonly needed in deals (customizable disclaimer pages, etc.).

Whatever you do, pit the offers against each other. You'll be amazed how much they can move down in price from the initial offer, haha.

Apr 18, 2012
ThaVanBurenBoyz:

Data room sales reps are on another level, they'll bug you quite a bit if they know you're looking. Proceed with caution, lol. Maybe even get a burner phone and a throwaway e-mail.

Intralinks and Merrill are awful suggestions. Very expensive. Some providers of comparable quality, but cheaper price include: Firmex, Deal Interactive, Ansarada (they'll deal), and Sharevault. Bowne/RR Donnelly would be slightly more expensive than those providers, but cheaper than Intra & Merrill. Depending on your needs, OneHub is a great solution. Much cheaper than anything I mentioned above. It's basically WatchDox with additional features commonly needed in deals (customizable disclaimer pages, etc.).

Whatever you do, pit the offers against each other. You'll be amazed how much they can move down in price from the initial offer, haha.

Appreciate the advice. I've already fallen victim to their schemes. The last place I was at used intralinks and the invoices were ridiculous. No way I'm using them. I'll check out the others tomorrow.

Apr 18, 2012
Genetic:
ThaVanBurenBoyz:

Data room sales reps are on another level, they'll bug you quite a bit if they know you're looking. Proceed with caution, lol. Maybe even get a burner phone and a throwaway e-mail.

Intralinks and Merrill are awful suggestions. Very expensive. Some providers of comparable quality, but cheaper price include: Firmex, Deal Interactive, Ansarada (they'll deal), and Sharevault. Bowne/RR Donnelly would be slightly more expensive than those providers, but cheaper than Intra & Merrill. Depending on your needs, OneHub is a great solution. Much cheaper than anything I mentioned above. It's basically WatchDox with additional features commonly needed in deals (customizable disclaimer pages, etc.).

Whatever you do, pit the offers against each other. You'll be amazed how much they can move down in price from the initial offer, haha.

Appreciate the advice. I've already fallen victim to their schemes. The last place I was at used intralinks and the invoices were ridiculous. No way I'm using them. I'll check out the others tomorrow.

The sales boys at those places have a pretty big budget to spent, you should make them take you out, have a good time, then use DebtDomain.

"After you work on Wall Street it's a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side." - David Tepper

Mar 1, 2017

Totally agree. The sales tactics can be pushy and their data rooms aren't cheap. Eneroom and OneHub are both good options that work well and don't cost a fortune.

Apr 18, 2012
Genetic:
ThaVanBurenBoyz:

Data room sales reps are on another level, they'll bug you quite a bit if they know you're looking. Proceed with caution, lol. Maybe even get a burner phone and a throwaway e-mail.

Intralinks and Merrill are awful suggestions. Very expensive. Some providers of comparable quality, but cheaper price include: Firmex, Deal Interactive, Ansarada (they'll deal), and Sharevault. Bowne/RR Donnelly would be slightly more expensive than those providers, but cheaper than Intra & Merrill. Depending on your needs, OneHub is a great solution. Much cheaper than anything I mentioned above. It's basically WatchDox with additional features commonly needed in deals (customizable disclaimer pages, etc.).

Whatever you do, pit the offers against each other. You'll be amazed how much they can move down in price from the initial offer, haha.

Appreciate the advice. I've already fallen victim to their schemes. The last place I was at used intralinks and the invoices were ridiculous. No way I'm using them. I'll check out the others tomorrow.

Your complaint about invoices is spot on. It's an unfortunate fact that many vendors rely on complex invoices, to keep the signing prices low by hiding costs. Watch for contracts that detail complex calculations to count pages uploaded, calculate documents according to size and charge extra for storage fees, etc. etc.

In the interest of full disclosure, I work for Firmex, so I'm admittedly bias but I do hear a lot about what goes on in the market. My advice - take a minute and look at the contract fine print. If the sales rep is straight forward and the terms are simple, you'll avoid the schemers.

Apr 18, 2012
Edward Stephen:
Genetic:
ThaVanBurenBoyz:

Data room sales reps are on another level, they'll bug you quite a bit if they know you're looking. Proceed with caution, lol. Maybe even get a burner phone and a throwaway e-mail.

Intralinks and Merrill are awful suggestions. Very expensive. Some providers of comparable quality, but cheaper price include: Firmex, Deal Interactive, Ansarada (they'll deal), and Sharevault. Bowne/RR Donnelly would be slightly more expensive than those providers, but cheaper than Intra & Merrill. Depending on your needs, OneHub is a great solution. Much cheaper than anything I mentioned above. It's basically WatchDox with additional features commonly needed in deals (customizable disclaimer pages, etc.).

Whatever you do, pit the offers against each other. You'll be amazed how much they can move down in price from the initial offer, haha.

Appreciate the advice. I've already fallen victim to their schemes. The last place I was at used intralinks and the invoices were ridiculous. No way I'm using them. I'll check out the others tomorrow.

Your complaint about invoices is spot on. It's an unfortunate fact that many vendors rely on complex invoices, to keep the signing prices low by hiding costs. Watch for contracts that detail complex calculations to count pages uploaded, calculate documents according to size and charge extra for storage fees, etc. etc.

In the interest of full disclosure, I work for Firmex, so I'm admittedly bias but I do hear a lot about what goes on in the market. My advice - take a minute and look at the contract fine print. If the sales rep is straight forward and the terms are simple, you'll avoid the schemers.

I gave firmex a quick look a few days ago. I'm still open. What would you say are Firmex's price variables and "average" total prices for a small cap deal?

Apr 19, 2012
Genetic:
Edward Stephen:
Genetic:
ThaVanBurenBoyz:

Data room sales reps are on another level, they'll bug you quite a bit if they know you're looking. Proceed with caution, lol. Maybe even get a burner phone and a throwaway e-mail.

Intralinks and Merrill are awful suggestions. Very expensive. Some providers of comparable quality, but cheaper price include: Firmex, Deal Interactive, Ansarada (they'll deal), and Sharevault. Bowne/RR Donnelly would be slightly more expensive than those providers, but cheaper than Intra & Merrill. Depending on your needs, OneHub is a great solution. Much cheaper than anything I mentioned above. It's basically WatchDox with additional features commonly needed in deals (customizable disclaimer pages, etc.).

Whatever you do, pit the offers against each other. You'll be amazed how much they can move down in price from the initial offer, haha.

Appreciate the advice. I've already fallen victim to their schemes. The last place I was at used intralinks and the invoices were ridiculous. No way I'm using them. I'll check out the others tomorrow.

Your complaint about invoices is spot on. It's an unfortunate fact that many vendors rely on complex invoices, to keep the signing prices low by hiding costs. Watch for contracts that detail complex calculations to count pages uploaded, calculate documents according to size and charge extra for storage fees, etc. etc.

In the interest of full disclosure, I work for Firmex, so I'm admittedly bias but I do hear a lot about what goes on in the market. My advice - take a minute and look at the contract fine print. If the sales rep is straight forward and the terms are simple, you'll avoid the schemers.

I gave firmex a quick look a few days ago. I'm still open. What would you say are Firmex's price variables and "average" total prices for a small cap deal?

We offer a fixed fee with no overages. Two pricing options - single transaction or unlimited subscription (http://www.firmex.com/get-started/).If interested in learning more, PM me and I will put you in contact with one of our reps. If the deal is straight forward the call won't take long.

Mar 1, 2017

+1 for Merrill. Only one I've used but can attest that they're good. TBH I feel like all the VDRs are probly the same... One of the associates told me that a couple years back they even hosted cool events for analysts so they can get picked over the other,

Mar 1, 2017

Anything besides RRDonnelly should be fine. Merrill and Intralinks are both good, with Intralinks being my personal preference (due mostly to experience)

Mar 1, 2017

Seems like MD's are most used to of Intralinks and Merrill. Any others?

Mar 1, 2017
YoungBankstaa:

Seems like MD's are most used to of Intralinks and Merrill. Any others?

MDs don't give a fuck. They aren't uploading or downloading docs.

Mar 1, 2017

I prefer whichever one treats me to the most dinners and events. The top ones are really all the same, minus a few nuances.

Mar 1, 2017

I hate IntraLinks; it feels slow as hell. However, they have good customer service.

Mar 1, 2017

They all suck and are overpriced for what they do, but if I have to choose, I go w intralinks

Mar 1, 2017

If you took the best of Intralinks and Merrill I think you'd be golden. Intralinks is easier to use IMO but Merrill has better customer service/help. Never tried Ansarada though I've heard good things.

Aug 10, 2018

Hello - If you are interested in learning more about the value Ansarada can add, please let me know and I am happy to discuss. We aren't just a standard VDR anymore, but much more of a platform for the entire Event process (Pre and post).

Mar 1, 2017

i actually really like intralinks

Mar 1, 2017

I think they all suck, the tech isn't that complicated and really should be a lot better in this age. Merrill and Intralinks are the least worst, Ansarada are slightly behind. Ultimately depends on who you can get the most drinks / events out of.

Mar 1, 2017

Whichever ones I'm not using on deals at the moment.

Mar 1, 2017

My company used to use the standard ones until we recently switched to HighQ's VDR. Frickin brilliant. It even lets you download all the questions in an excel spreadsheet, fill it up and then upload the answers. Aside from being fast, secure and simple, it also looked really good. We ended dup winning some business because our clients liked the dataroom. Bizarre.

    • 2
Mar 1, 2017
Hugo92:

My company used to use the standard ones until we recently switched to HighQ's VDR. Frickin brilliant. It even lets you download all the questions in an excel spreadsheet, fill it up and then upload the answers. Aside from being fast, secure and simple, it also looked really good. We ended dup winning some business because our clients liked the dataroom. Bizarre.

You joined WSO just to post this? Ya, that doesn't seem suspicious or anything...

Mar 1, 2017

Merrill customer service is great, and the reps take you out for dinner / drinks. what more do I need

Mar 1, 2017
Texas2016:

Merrill customer service is great, and the reps take you out for dinner / drinks. what more do I need

Agreed. Merrill > Intralinks when it comes to this, even if its platform is not quite as good. I've had a couple of situations when I was an associate and I was in a time crunch, just forwarded a folder structure and 100MBs worth of files and the Project Mgmt team put it up for me.

Intralinks has taken me out too, but Merrill is more frequent.

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Apr 17, 2012

Uh oh, here comes the spam.

Mar 1, 2017

Merrill is my favorite, best interface. Intralinks is a decent second.

Mar 1, 2017

Merrill and Intralinks are the two major providers. I've used a lot of dataroom providers and few are as effective as these two. You can also look into Bowne if you want more options.

CompBanker

Mar 1, 2017

Intralinks is all I use

Mar 1, 2017

Big fan of Merrill. PM me and I can give you my contact there.

Mar 1, 2017

Intralkinks is what we use mainly. I can tell you not to use Leonard, Street & Deinard....that was a bad experience.

Mar 1, 2017

Only have experience with Merrill. Looks like that's what just about everyone else is using, too...

Mar 1, 2017

Thanks all. Will check out Intralinks. How's their pricing relative to Merrill?

Apr 17, 2012

Just go ahead and email everything to me.

Mar 1, 2017

To be perfectly honest, I look for data room providers that throw open bars. Ideally, the infrastructure of the data room should be user friendly and security shouldn't really be a selling point because if your security is shit, you won't have a business. There are nuance differences between sites like Merrill, Intralinks, and others, but basically the easier and more straightforward the interface the better.

Realistically though, I don't give a shit about that. If you are regularly throwing some open bars our way, I will keep coming back to that provider over another one...

Mar 1, 2017

That's what I've gathered so far, we're pretty good at treating our clients/potential clients right if I do say so myself!! Thanks for the honesty! :)

Mar 1, 2017

Whoever hooks it up the best (also want to be sure the product is good -- Intralinks/Merril are really the only good ones)

Mar 1, 2017

I have a question for you - what do you believe is the long term competitive advantage for data room providers? They are very expensive, and is the somewhat better interface and access rights functionality really that valuable versus using dropbox or something similar? Really a data room is just a cloud storage solution.

On a related note, have data room prices come down over the years?

Mar 1, 2017

Sorry for the lack of response-- was out of the office on Friday. Personally, I think that the advantage for data room providers is that we can provide a much more secure platform than something like Dropbox or Google Docs can provide. Specifically, being able to have different levels of access for different bidders, cut people out of transactions quickly and set expiration dates on documents are three of the advantages I can think of that would put my company in front of a "cheaper" or "easier" solution.

As far as pricing goes, I'm not the best person for that discussion, although I do know that our pricing is incredibly flexible based on the size and scope of the deal.

Apr 18, 2012

Only ever used Intralinks

Apr 19, 2012

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