New Relic’s sale tells us much about the value of middling growth today
It appears single-digit revenue multiples are all that’s within reach of unprofitable tech companies with growth rates in the low double-digits.
New Relic, the San Francisco-based observability software company, has reached an agreement with private equity firms TPG and Francisco Partners to go private in a $6.5 billion all-cash deal. As reported by CNBC, TPG and Francisco Partners were able to salvage a deal that initially fell through months ago after securing enough debt financing to…
We’re currently deep in the cycle of every enterprise-adjacent company integrating a large language model into its services. Today, New Relic is throwing its hat in the ring with Grok, which it calls the “world’s first generative AI assistant for observability” (and I’m sure it won’t be the last). Unsurprisingly, the idea here is to…
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