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7Park Data, which Vista Equity Partners bought for $100 million, is shuttering as a stand-alone alt-data business and being absorbed into the Vista-owned software provider Apptio.
The company has struggled to deal with a new mandate from Vista, the loss of key outside data streams, and client departures, sources told Insider.
In 2017, 7Park had a large client roster including a star-studded list of buy-side firms like Tiger Global, Coatue, and Citadel, according to a pitch deck viewed by Insider.
7Park Data, a darling of the alternative-data boom feeding quantitative hedge funds, is shuttering as a stand-alone business just two years after being acquired for $100 million by the private-equity juggernaut Vista Equity Partners.
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Special-purpose acquisition companies aka blank-check companies are having a moment on Wall Street. The investment vehicles raised more than $80 billion in 2020, more than five-times last year s total of $14 billion.
SPACs have recently attracted bold-faced names such as hedge-fund titan Bill Ackman, LinkedIn founder Reid Hoffman, Silicon Valley power player Dragoneer Investment Group, and Moneyball star Billy Beane.
But there s an ecosystem of advisors, salespeople, and lawyers pitching blank-check companies to investment platforms and wealthy people as viable financing options.
We spoke with more than a dozen industry insiders to come up with a list of the market s most influential players.
Two weeks out from the end of 2020 and the IPO news cycle isn t slowing down.
You d be forgiven if you thought at the beginning of the week we d maybe get a break from hearing about hot tech companies rushing to go public, as Roblex and Affirm postponed their debuts. But by Friday, cryptocurrency exchange Coinbase, online thrift platform Poshmark, and dating app Bumble had all filed for upcoming IPOs.
Another thing they all have in common, according to reports, is Goldman Sach s involvement.
The company has led offerings this fall for DoorDash, Wish, Snowflake, and Unity Software, and worked on other IPOs including Airbnb and GoodRx, among others. And as Meghan Morris reported, it s now leading Coinbase s efforts.
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Coinbase taps Goldman for public debut - How Airbnb and DoorDash failed to reinvent the IPO - The execs behind wealth s talent wars
Coinbase taps Goldman for public debut - How Airbnb and DoorDash failed to reinvent the IPO - The execs behind wealth s talent wars
Michelle AbregoDec 19, 2020, 20:04 IST
Lucy Nicholson/Reuters
Two weeks out from the end of 2020 and the
IPO news cycle isn t slowing down.
You d be forgiven if you thought at the beginning of the week we d maybe get a break from hearing about hot
tech companies rushing to go public, as Roblex and Affirm postponed their debuts. But by Friday, cryptocurrency exchange Coinbase, online thrift platform Poshmark, and dating app Bumble had all filed for upcoming IPOs.