March SMB Software News Recap
Each month we report on news and updates for the companies in the SurePath SMB Index — a basket of publicly traded software and technology companies that serve the SMB market.
Acquisitions and Divestitures
Constituents of the SurePath SMB Index were quite active in terms of deals during the month of March. Details follow:
Atlassian acquires AgileCraft for $166M — Atlassian announced that it has entered into an agreement to acquire AgileCraft, the Georgetown-based startup that specializes in software that helps organizations manage their projects. The acquisition is part of Atlassian’s expansion from selling software development tools to more general workplace software. The deal is expected to close in April.
Toronto-based financial service provider Wave acquires Every, Toronto-based fintech company that provides business accounts and debit cards to small business. The acquisition is expected to advance Wave’s plans to integrate more financial product and services into their existing offerings. The terms of the deal were undisclosed.
SurveyMonkey acquires Amsterdam-based startup Usabilla for $80 million — SurveyMonkey announced that it has entered into an agreement to acquire Usabilla, a provider of Voice of Customer technology which gathers in-depth customer feedback, expectations, and preferences. The acquisition is expected to enhance SurveyMonkey’s current survey toolkit as well as strengthen its presence in the European Union. The $80 million deal was a combination of cash and stock.
New Product Launches
There were several new product launches announced by constituents of the SurePath SMB Index in Match. Highlights include:
Square expands Omnichannel offerings — Square announce that it is introducing a new Square online store and a revamped Square for Retail. The two products are fully integrated with Weebly and will allow sellers to have one interconnected solution in order to start and grow an omnichannel business.
Yelp announces verified licenses for Service Providers — The Yelp Verified License is a new paid product designed for qualified service providers within eligible home and local services categories.
Shuttershock Launches in-app contributor registration for Android and iOS platforms — With this upgrade, iOS and Android users will now have the ability to sign-up to become a contributor straight from the mobile app and instantly start making money through their mobile imagery.
Other SMB Index News
In other news:
Zendesk continues to expand its footprint in Australia and New Zealand with New Leadership — Zendesk appoints Amy Foo as Managing Director of Zendesk Australia and New Zealand.
ANGI Homeservices announces the promotion of Jamie Cohen to CFO — The company announced the promotion of Jamie Cohen, Executive Vice President of Finance and Accounting to Chief Financial Officer. Ms. Cohen was in her previous role since 2017, when the company went public. Prior to that, she held various financial leadership roles within IAC’s HomeAdvisor.
Shuttershock announces the appointment of Stan Pavlovsky as Co-Chief Operating Offer and Head of Strategic Operations — In his new role Mr. Pavlovsky will be responsible for overseeing product, marketing and technology. He will work along side Steven Berns who will continue as Co-Chief Operating Officer and Chief Financial Officer.
Activity in the SMB space outside of our SMB Index
Lightspeed Initial Public Offering — Montreal-based Lightspeed, a provider of cloud point-of-sale and e-commerce software for small and medium sized retail and restaurant businesses completed its IPO issuing 15-million subordinate voting shares at a price of $16 per share.
Pinterest files for its IPO — San Francisco-based Pinterest, the social bookmarking platform has filed for an IPO which is expected to begin trading on the New York Stock Exchange in April. The company has reported significant user growth and monetization over the last few years, as well, as expanded in various international markets.
Private and VC/PE backed companies need attention as well: