Smartsheet, a U.S. maker of workplace collaboration software with a market value of $6.3 billion, has tapped investment bankers after attracting acquisition ...
Smartsheet Inc. President and CEO Mark Mader attends his company's IPO on the floor of the NYSE in New York - Smartsheet , a U.S. maker of workplace collaboration software with a market value of $6.3 billion, has tapped investment bankers after attracting acquisition interest from buyout firms, according to people familiar with the matter.
Smartsheet's software allows organizations to manage, track and automate their workflow using a single platform, offering more features and capabilities than Microsoft's Excel. Smartsheet invests in its growth at the expense of its bottom line, generating strong sales while posting losses. It has been trimming these losses as it improves its profit margins.
Banks are reluctant to lend to companies that use up their cash flow, making their leveraged buyouts more challenging for private equity firms to finance.In a workaround, some buyout firms have turned to so-called shadow banks for financing — a catch-all term for investment firms that operate outside the banking sector.
Collaboration Software Qatalyst Partners Smartsheet Investment Bankers
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