2 Investment Giants Buy One of the Top Work Tools

What we’ll cover today:

💰 What Happens When 2 Investment Giants Buy One of the Top Work Tools?
🤯 Kailash Nadh: “I’ve stopped using Google for…”
🚀 "How to Build a SaaS?"
🔗 The Event Roundup

What Happens When 2 Investment Giants Buy One of the Top Work Tools?

Things get exciting—and fast!

Vista Equity Partners and Blackstone are buying Smartsheet for $8.4 billion in cash.

They’re offering shareholders a big payday with $56.50 per share.

Key points of the deal:

• 41% premium on Smartsheet's 90-day average share price.

• 45 days for Smartsheet to consider other offers.

• Smartsheet recently posted $276.4 million in revenue.

• Projected full-year earnings of over $1.1 billion.

• Serves 85% of Fortune 500 companies.

With Vista and Blackstone backing them, Smartsheet is set to go even bigger.

Here’s the whole article

1. Kailash Nadh: “I’ve stopped using Google for…”

Zerodha CTO Kailash Nadh has stopped using Google for technical queries, opting for Claude or GPT-4 instead. He cautioned new engineers against relying solely on AI-generated code without understanding it.

Here’s the Article

2. "How to Build a SaaS?"

This is a tweet by Rohan Savant, founder of wordoutapp, who wrote a thread on:

“How to Build a SaaS?

A Step-by-Step TECHNICAL & FINANCIAL Breakdown 

My agency built ~3 SaaS-es in 2021. Clients love us

Includes 6 INSIDER SECRETS 🕵🏽 

Bonus - How NOT to go OVER BUDGET (like I did)”

Here’s the thread

1. HaloPSA Founder: With $1B Revenue Goal, ‘We Want To Be The World's Favorite B2B SaaS Platform’.

‘You have my word that we will not be squeezing partner margin at any point in time. That's what tends to happen with mostly other vendors. That is never going to happen at Halo,’ says Paul Hamilton, HaloPSA’s founder.

2. Cloud Computing Market Expected to Reach USD 2619.2 Billion by 2032

The growing demand for cloud services, driven by government policies and the adoption of Software as a Service (SaaS), is shaping the future of the cloud computing industry.

For instance, by 2023, the U.S. government committed to investing over $4 billion in cloud infrastructure projects as part of its federal modernisation policies.

3. After raising $50 million, SaaS startup Loginext liquidates assets to US entity for $250k

Backed by Tiger Global and Steadview, a logistics SaaS company has wound up operations and sold its assets to Delaware-based Stellation Inc. following a July 8 board resolution. 

Employee stock plans were cancelled, and options were terminated amid layoffs. Early investors Alibaba and Paytm exited during the 2020 fundraising.