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Vista Equity Partners

also referred to as: vista · vista equity

38 statements across 15 episodes · 23 bullish · 3 bearish · 15 people on the record · first statement Dec 3, 2017 by Ragy Thomas · said 280 times in 55 episodes since 2017 · across every show →

Mentions by year

brought up most by Nathan Latka (204), Bill Wise (21), Reggie Agarwal (10), Dennis Moore (9), Chris Cabrera (8), Art Pappas (7), Joe Payne (4), Jared Schrieber (4)

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08152017201820192020202120222023202420252026episodes it came up in
00107.520152017201820192020202120222023202420252026episodesmentions per episode
2026 1 mention in 1 episode
2024 3 mentions in 3 episodes 1 per episode
2023 9 mentions in 4 episodes 2 per episode
2022 25 mentions in 8 episodes 3 per episode
2021 33 mentions in 8 episodes 4 per episode
2020 3 mentions in 2 episodes 2 per episode
2019 91 mentions in 13 episodes 7 per episode
2018 80 mentions in 14 episodes 6 per episode
2017 35 mentions in 2 episodes 18 per episode

every mention, scene by scene, with the transcript →

Everything said about Vista Equity Partners, oldest first

Dec 3, 2017 positive
Opinion
Thomas admires Vista Equity's business strategy and would welcome a meeting
“I'm actually, I'm in love with the business strategy. He's done a lot of clever things that are not obvious, so I would use that as an excuse to go meet those people.”
Ragy Thomas Dec 3, 2017 ▶ 32:44 862 With $150m+ Revenue, Plus New Product, Can Anyone Catch Sprinklr?
Dec 4, 2017 positive
Assertion Contradicted
Wise: MediaOcean Completed Six Acquisitions Under Vista Equity in Two Years
“Since Vista's on us for just about two years, a little over two years now, we've done six acquisitions.”
Bill Wise Dec 4, 2017 ▶ 16:06 863 AdTech: $720m Valuation, The 50+ Year Unicorn Processing $160 Billion in Spend
Dec 4, 2017
Disclosure
Wise: Vista consults Mediaocean on all media advertising deals
“They don't do a single deal in this space without, you know, consulting with me saying, would this make sense as a standalone? Would this make sense within MediOcean? How would it play out?”
Bill Wise Dec 4, 2017 ▶ 26:17 863 AdTech: $720m Valuation, The 50+ Year Unicorn Processing $160 Billion in Spend
Dec 4, 2017 positive
Disclosure
Mediaocean Uses Wonderlic Testing Exclusively and Only Hires Top 21% Scorers
“We use no external recruiters because we ask everyone to take a wonder like test. And 21% of the world's population gets an A or B on this test. We only hire A's and B's.”
Bill Wise Dec 4, 2017 ▶ 21:51 863 AdTech: $720m Valuation, The 50+ Year Unicorn Processing $160 Billion in Spend
Dec 4, 2017 positive
Disclosure
Wise: Vista Allowed 100% Equity Liquidity in Mediaocean Acquisition
“They allowed me to sell a hundred percent of my equity on their acquisition, re-upped me.”
Bill Wise Dec 4, 2017 ▶ 22:34 863 AdTech: $720m Valuation, The 50+ Year Unicorn Processing $160 Billion in Spend
Mar 16, 2018 negative
Opinion
Carlson: Hostile PE takeovers of microcap SaaS are impractical without management buy-in
“When you're dealing with companies our size, it's very difficult for you to purchase that many shares and have it not move the needle. And so it becomes potentially prohibitively expensive. But what I'd really like to believe is that any company you know, a co…”
Rick Carlson Mar 16, 2018 ▶ 10:06 965 Why This $14m ARR Company "Went Public" To Win Marketing Automation Space
May 27, 2018 negative
Disclosure
Mask says he would reject a hypothetical $900M buyout offer
“I say no. We got a mission that's really exciting.”
Clate Mask May 27, 2018 ▶ 17:15 1037 Clate Mask on ICON, Infusionsoft IPO, Exit Strategy
Jun 12, 2018 positive
Assertion Supported
Vista Equity Partners acquired InfoScout in July 2017
“We're still running as InfoScout, but we were acquired by Vista Equity Partners, the software-focused private equity firm, and last July.”
Jared Schrieber Jun 12, 2018 ▶ 17:34 1053 Me: Did You Sell To Vista for $250m? CEO:"Your math astute"
Jun 12, 2018 neutral
Assertion Partly supported
Vista Equity paid 7.2x revenue multiples for Cvent and Marketo
“Vista Equity loves 7.2 X multiples. It's the multiple they paid for Cvent. It's also the multiple they paid for Marketo.”
Nathan Latka Jun 12, 2018 ▶ 20:06 1053 Me: Did You Sell To Vista for $250m? CEO:"Your math astute"
Sep 9, 2018 positive
Assertion Supported
Cabrera: Xactly completed two acquisitions within seven months under Vista
“And in seven months, we've already done two acquisitions.”
Chris Cabrera Sep 9, 2018 ▶ 13:38 1142 Why went public, then sold to Vista for $564m on $100m in ARR
Sep 9, 2018 positive
Assertion Partly supported
Cabrera: Xactly passed $100M in revenue before its sale to Vista
“We took the company public in 2015. We then sold it to Vista about seven, eight months ago. And, you know, we were, you know, north of a hundred million dollars at that time.”
Chris Cabrera Sep 9, 2018 ▶ 5:53 1142 Why went public, then sold to Vista for $564m on $100m in ARR
Sep 9, 2018 positive
Opinion
Cabrera: Vista Equity Partners has visibility into nearly every tech deal
“One thing I've learned about Vista is these guys are super, super sharp and they have tentacles everywhere. And so there's not many deals that go down that, that they don't know about. And people would be stupid not to bring it to them.”
Chris Cabrera Sep 9, 2018 ▶ 15:52 1142 Why went public, then sold to Vista for $564m on $100m in ARR
Sep 9, 2018 neutral
Assertion Supported
Cabrera: Vista finalized its acquisition of Xactly in a matter of weeks
“The deal actually came together very fast once we once we reengaged. I don't remember the exact timeframes, but it was a matter of weeks, really.”
Chris Cabrera Sep 9, 2018 ▶ 16:26 1142 Why went public, then sold to Vista for $564m on $100m in ARR
Sep 9, 2018
Assertion Supported
Cabrera: Vista acquired Xactly at $16 per share, doubling IPO investors' money
“Everybody, you know, bought in at eight, sold at pretty much 16. So everyone doubled their money. That's what we sold to Vista for.”
Chris Cabrera Sep 9, 2018 ▶ 9:29 1142 Why went public, then sold to Vista for $564m on $100m in ARR
Nov 1, 2018 bullish
Assertion Not checkable as stated
Zionts: Automated Insights Grows at a Triple-Digit Year-Over-Year Percentage
“We are triple digits growth in terms of percentage.”
Mark Zionts Nov 1, 2018 ▶ 17:08 1195 3 Metrics Automated Insights Focuses on as a Private Equity Owned Company
Feb 6, 2019 positive
Assertion Not checkable as stated
Agarwal: Cvent was Vista's first high-growth software acquisition
“So what happened with Vista, they used to invest in companies that, you know, EBITDA was a little more focused. Now their focus is high growth. So we were the first company that they acquired that was high growth.”
Reggie Agarwal Feb 6, 2019 ▶ 22:26 1292 How Cvent Hit $500m Bookings with Eyes on $1B in Meeting and Event Space
Feb 6, 2019 neutral
Disclosure
Agarwal: Rolled over proceeds into Cvent during Vista acquisition
“Like I invested back my proceeds cause I was, you know, the largest shareholder at Cvent and I put my money back into the company, some of it.”
Reggie Agarwal Feb 6, 2019 ▶ 19:07 1292 How Cvent Hit $500m Bookings with Eyes on $1B in Meeting and Event Space
Feb 6, 2019 neutral
Assertion Partly supported
Agarwal: Competitor Lanyon was formed by aggregating about 20 companies
“And Lanyon was an aggregation of about 20 different companies that kind of merged together.”
Reggie Agarwal Feb 6, 2019 ▶ 3:18 1292 How Cvent Hit $500m Bookings with Eyes on $1B in Meeting and Event Space
Feb 6, 2019 positive
Assertion Supported
Agarwal: Vista Equity Partners has never lost money on an acquisition
“They've never lost money. And any acquisition in their history, which no company can say.”
Reggie Agarwal Feb 6, 2019 ▶ 22:13 1292 How Cvent Hit $500m Bookings with Eyes on $1B in Meeting and Event Space
Feb 6, 2019 neutral
Assertion Partly supported
Agarwal: Vista used Cvent's $130M cash balance to fund buyout
“We had one hundred and thirty million dollars cash in our balance sheet. They use that to buy our own company.”
Reggie Agarwal Feb 6, 2019 ▶ 19:00 1292 How Cvent Hit $500m Bookings with Eyes on $1B in Meeting and Event Space
Feb 6, 2019 positive
Disclosure
Agarwal: Vista takes zero dividends from high-growth software portfolio companies
“So they don't take money back. They want to invest it back to grow faster. So for example, they've never, they don't want a dividend. They said, put that money and plow it back into the business because we want to go faster.”
Reggie Agarwal Feb 6, 2019 ▶ 23:08 1292 How Cvent Hit $500m Bookings with Eyes on $1B in Meeting and Event Space
Feb 6, 2019 positive
Assertion Partly supported
Agarwal: Vista has the highest IRR of any North American PE firm
“Vista has now had the highest IRR of any private equity firm in North America.”
Reggie Agarwal Feb 6, 2019 ▶ 17:00 1292 How Cvent Hit $500m Bookings with Eyes on $1B in Meeting and Event Space
Jun 8, 2019 bullish
Opinion
Gansca: Competitor acquisitions leave room for independent marketing measurement
“I think there's so much opportunity, especially with mode being a part of Oracle integral ad science now being part of Vista's portfolio. I think there's a lot of opportunity to be that independent source of truth. Across all digital marketing.”
Anda Gansca Jun 8, 2019 ▶ 15:54 1414 $6m in ARR, 3x YoY Growth Knotch Helps Enterprise Brands Measure Their Marketing
Sep 2, 2019
Assertion Not checkable as stated
Vista acquired Bullhorn in 2012 in a low nine-figure transaction
“It did leak that it was a nine figure deal. So yeah. And it wasn't high nine figures, obviously.”
Art Pappas Sep 2, 2019 ▶ 10:37 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+
Sep 2, 2019
Assertion Not checkable as stated
Bullhorn reached $40 million ARR prior to its 2012 Vista acquisition
“20 12 was like 40.”
Art Pappas Sep 2, 2019 ▶ 10:18 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+
Sep 2, 2019 negative
Disclosure
Pappas enormously regrets selling early secondary shares during the Vista deal
“No, with the Vista deal, I did quite a bit and regretted that actually. Like enormously because, you know, you saw what happened to the revenue, right? Like had I just held on”
Art Pappas Sep 2, 2019 ▶ 21:44 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+
Sep 2, 2019 positive
Assertion Supported
Bullhorn grew revenue from $40 million to $130 million under Vista
“We started revenues at 40, and we ended at one 30.”
Art Pappas Sep 2, 2019 ▶ 13:17 1500 BullHorn Sold 60% Early On, Now $200m in ARR, E50+
Sep 3, 2019 positive
Disclosure
Kannan: [24]7.ai plans to pursue an IPO over a PE buyout
“I think, you know, an IPO is more kind of like what the team wants to do and what I would like to do. We've built the company for the long run. So it's not about, you know, get into some stage and get out.”
PV Kannan Sep 3, 2019 ▶ 12:22 1501 247.ai Passes $300m ARR, 10% EBITDA, No $6B Vista Sale
Oct 26, 2019
Assertion Not checkable as stated
Pre-integration, Numerator ran six Salesforce instances and three accounting systems
“We had, I think we had six instances of Salesforce. We had three different accounting systems, you know, because we had concatenated all these small acquisitions before, and, you know, Vista just kind of looked at it and said, you know, this is kind of ridicul…”
Dennis Moore Oct 26, 2019 ▶ 17:04 1554 $130M ARR Vista Owned Company Made These 2 Moves Right After Acquisition
Oct 26, 2019 neutral
Assertion Supported
Numerator was formed through a concatenation of about 12 different acquisitions
“Well, the company is really a concatenation of about 12 different acquisitions, so I, and to be clear, I'm not the founder, you know, I'm sort of the PE CEO of the accumulated companies, but the panel business that we've been talking most about, that business …”
Dennis Moore Oct 26, 2019 ▶ 5:32 1554 $130M ARR Vista Owned Company Made These 2 Moves Right After Acquisition
Oct 26, 2019 positive
Assertion Not checkable as stated
Numerator spends roughly 25% of total revenue on sales and marketing
“Our total cost of sales and marketing is about 25% of our total revenue, right? So we're spending a lot of money Every year on our sales force and our marketing efforts, but the, but I, but we're not in a situation where we're spending more than the first year…”
Dennis Moore Oct 26, 2019 ▶ 14:10 1554 $130M ARR Vista Owned Company Made These 2 Moves Right After Acquisition
Sep 6, 2021 positive
Assertion Not checkable as stated
Gainsight expanded headcount from 700 to 900 in early 2021
“We started the year at 700 employees. I need to update my bio. We're already at 900.”
Nick Mehta Sep 6, 2021 ▶ 16:05 Was Selling Majority to Vista The Right Move? Gainsight Customer Success Platform Hits $100m ARR, 1,000 Customers
Sep 6, 2021 positive
Assertion Partly supported
Gainsight crossed $100M ARR prior to Vista transaction
“You know, we reported that we had crossed a hundred million of AR and all that.”
Nick Mehta Sep 6, 2021 ▶ 11:45 Was Selling Majority to Vista The Right Move? Gainsight Customer Success Platform Hits $100m ARR, 1,000 Customers
Sep 6, 2021 positive
Opinion
Mehta: Vista's $1.1B Gainsight buyout will be a steal
“I think it will be a steal for Vista. Actually, I think our business has done really well in the last six months. So I'm actually excited to be a steal because I think all of us will make out well.”
Nick Mehta Sep 6, 2021 ▶ 13:16 Was Selling Majority to Vista The Right Move? Gainsight Customer Success Platform Hits $100m ARR, 1,000 Customers
Sep 6, 2021 neutral
Insight
PE buyout valuations cannot be compared directly to VC preferred rounds
“When you do a deal with a Vista type firm, it's a hundred percent common. So it's actually kind of hard to compare apples to apples to a classic venture deal where there's a preferred So I wouldn't, I think optically it's hard to compare that valuation to othe…”
Nick Mehta Sep 6, 2021 ▶ 14:23 Was Selling Majority to Vista The Right Move? Gainsight Customer Success Platform Hits $100m ARR, 1,000 Customers
Sep 6, 2021 positive
Opinion
Vista Equity operates between traditional PE and classic VC
“Vista is kind of showed up in this new category where they're not really private equity anymore and they're not your classic VC. They're investing in companies that are trying to be these like long-term growers, not, you know, Gainsight's never since the early…”
Nick Mehta Sep 6, 2021 ▶ 12:07 Was Selling Majority to Vista The Right Move? Gainsight Customer Success Platform Hits $100m ARR, 1,000 Customers
Mar 24, 2022 bullish
Disclosure
Kannan: [24]7.ai founders and management prefer IPO over PE buyout
“I think, you know an IPO is more kind of like what the team wants to do and what I would like to do. And, you know, we've built the company for the long run, so it's not about, you know get into some stage and get out.”
PV Kannan Mar 24, 2022 ▶ 13:39 Latka IPO Watch: 24.7 About to File? A look back
Nov 1, 2023 positive
Assertion Not checkable as stated
Payne: Vista Equity is likely the world's largest software company
“Vista is probably the largest software company in the world today.”
Joe Payne Nov 1, 2023 ▶ 25:36 He hit $120m in ARR Then Sold $70m Unit for $250m, Today His Secrurity SaaS is Cash Rich... whats next?
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