Assertion Not publicly verifiable AI assessment confidence: 85% certainty 2/5 debate potential 2/5

Quotient acquired Crisp at an estimated 6x to 7x revenue multiple

Bob Gilbreath · 874 How This $10m+ Agency Keeps 85%+ Gross Margins · Dec 15, 2017 · at 8:21

Bob Gilbreath discusses M&A valuation multiples for hybrid tech-enabled marketing firms in conversation with Nathan Latka.

0:00 / 0:12exact quote · 12.1s

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“A quotient just bought a company called crisp a few months ago in our space. I think that was something like, you know, it's always hard to tell, you know, the numbers aren't public completely, but something like a six to seven X.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

The claim, plainly

Quotient acquired Crisp at an estimated revenue multiple of six to seven times.

a quote alone can be ambiguous, so this restates it with the references and context of the conversation around it resolved. AI-written; the tape below the player is the source.

Assessment

Quotient Technology Inc. did acquire Crisp Media, Inc. in May 2017 for $33.0 million upfront ($20.0 million in cash and $13.0 million in stock) plus up to $24.5 million in contingent earn-out consideration (totaling up to $57.5 million). However, because Crisp Media was a private entity, Quotient's SEC filings (Form 8-K, Form 10-Q, and Form 10-K) never publicly disclosed Crisp's standalone historical revenue or ARR, and independent M&A analyses listed valuation multiples as unavailable. As the underlying revenue data is non-public, the implied revenue multiple cannot be definitively verified from public records.

Quotient Technology Inc. completed the acquisition of Crisp Media, Inc. on May 31, 2017, for $33.0 million in upfront consideration and up to $24.5 million in contingent earn-out consideration.
Quotient's Form 8-K, Form 10-Q, and Form 10-K filings did not disclose Crisp Media's standalone revenue or ARR prior to acquisition.
Independent financial reports, such as SOLIC Capital Advisors' Q2 2017 M&A review, recorded EV/Revenue multiples for the transaction as 'n/a' due to undisclosed private company financials.

Checked against

[1] citybuzz.co [2] seekingalpha.com [3] soliccapital.com [4] pitchbook.com [5] seekingalpha.com [6] pitchbook.com [7] strictlyvc.com [8] seekingalpha.com

"Crisp Media" OR "Crisp Mobile" revenue 2016 OR 2017 "Quotient" Quotient Technology acquires Crisp Media May 2017 Quotient Technology acquired Crisp Media 10-K 10-Q purchase price revenue "Quotient Technology" "Crisp" acquisition price revenue 2017 10-K "Crisp Media" OR "Crisp Mobile" "ARR" OR "annual revenue" "Quotient" "Quotient Technology" "Crisp Media" "million" "cash" "stock" "contingent"

assessed as of 2026-09-02

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Mentioned

Crisp Quotient

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Disclosure

Ahalogy claims its agency gross margins rival typical SaaS companies

“I hold it up against SAS.”

Bob Gilbreath Dec 15, 2017 ▶ 11:09 874 How This $10m+ Agency Keeps 85%+ Gross Margins

Insight

Large brands are growing wary of SaaS commitments over active media spend

“It's easier for the large brands, I think, are starting to get wary of SaaS and technology and making those kind of commitments to what they call non-working dollars. But on the media side, it's where they're putting their, they're kind of, they have to go get…”

Bob Gilbreath Dec 15, 2017 ▶ 2:42 874 How This $10m+ Agency Keeps 85%+ Gross Margins

Disclosure

Ahalogy's revenue was two-thirds campaign and one-third SaaS last year

“It was about last year about two-thirds campaign, about a third SaaS.”

Bob Gilbreath Dec 15, 2017 ▶ 2:26 874 How This $10m+ Agency Keeps 85%+ Gross Margins

Disclosure

Ahalogy's average brand campaign contract is between $50,000 and $70,000

“I mean, it can go 20 grand all the way to 253 hundred grand. I'd say average around 50 to 70”

Bob Gilbreath Dec 15, 2017 ▶ 3:12 874 How This $10m+ Agency Keeps 85%+ Gross Margins

Assertion Supported

Ahalogy has raised about $10M in total capital to date

“We've raised about ten million dollars over those years.”

Bob Gilbreath Dec 15, 2017 ▶ 5:12 874 How This $10m+ Agency Keeps 85%+ Gross Margins

Assertion Not checkable as stated

Ahalogy is profitable with high margins and is not actively fundraising

“We're profitable and have great margins, and I'm not fundraising right now.”

Bob Gilbreath Dec 15, 2017 ▶ 5:33 874 How This $10m+ Agency Keeps 85%+ Gross Margins

Quotient acquired Crisp at an estimated 6x to 7x revenue multiple

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