Mailchimp is considering a sale, according to Bloomberg. The marketing platform provider could be valued at more than $10 billion (€8.5 billion).
According to people familiar with the matter, Mailchimp is attracting interest from private equity firms and large tech companies. It is not known which parties are involved. However, the takeover by interested parties could take place in various ways. Mailchimp is considering several sale options, including a minority stake. Mailchimp can also choose to remain independent.
Mailchimp generates hundreds of millions of euros annual revenue. The company generates its revenue with cloud services for marketing professionals. With these tools, they can manage e-mail campaigns and design websites, among other things. SMEs in particular are an important target group for Mailchimp.
Market position
In the first years after it was founded, Mailchimp was relatively small compared to where it is now. When the company introduced a free version of its software, the marketing specialist grew into a major player. Currently, there is still rapid growth, which explains the $10 billion price, according to Needham & Company, the investment bank told Bloomberg. If the 700 million dollar revenue from 2019 and the proportions in the software market are taken into account, Needham & Company assumes a valuation of 7 billion to 11 billion dollars.
Several acquisitions have recently taken place in the market segment in which Mailchimp is active. Mailchimp competitor SendGrid was acquired by Twilio. In addition, we recently saw the Amsterdam-based company MessageBird buy Sparkpost for half a billion.
Bloomberg asked Mailchimp for comment, but the company did not want to respond.
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