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Adobe, Uber, JetBlue, Public Storage, Soho House

šŸ“© New Slides - 11 April 2024

Hello BetterPitch readers!

Here are the top 5 decks we found at BetterPitch this week.

Okay, now back to our top finds:

1. Adobeā€™s Acquisition of Figma

Adobe agreed to acquire Figma for $20B.

But, with no clear path to obtaining the approval from UK and EU regulators, Adobe abandoned the acquisition and paid a $1B termination fee to Figma.

This slide deck highlights:

  • Figmaā€™s economics

  • Adobeā€™s acquisition strategy

  • Transaction details

2. Uberā€™s Acquisition of Postmates

Uber acquired Postmates for $2.65B.

Uberā€™s food delivery service was the companyā€™s Covid crutch. Uberā€™s ride sharing revenues fell by $3B in Q1 2020. Acquiring rival food delivery app, Postmates, gave the company a hedge after losing out on a $7.3B bid to buy Grubhub.

This slide deck highlights:

  • The deal

  • Postmates overview

  • Strategic rationale

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3. JetBlue x Spirit Merger

JetBlue Airways and Spirit Airlines were set for a $3.8B merger.

Unfortunately, the justice department had other plans and blocked the deal. The reasoning? It would hurt consumers who depend on Spiritā€™s lower rates. JetBlueā€™s CEO, Joanna Geraghty, called the merger ā€œa bold and courageous plan intended to shake up the industry status quoā€ and speed JetBlueā€™s growth. Airline drama.

This slide deck highlights:

  • Comparison between JetBlue and Frontier bids to Spirit

  • Path to regulatory approval

  • Criticism of Spiritā€™s board

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4. Public Storage Acquires Simply Storage

Public Storage acquired Simply Storage from Blackstone for $2.2B.

Two self storage behemoths, Public Storage and Extra Space went toe-to-toe acquiring nearly $20B of deals the past three years. Public Storage added 127 properties with the Simply Storage acquisition. Thatā€™s a lot of hoarders. Blackstone realized $600M in profit from the deal. Glad they caught a break.

This slide deck highlights:

  • Transaction summary

  • Growth strategy

  • Industry acquisition comparisons

5. Soho Houseā€™s Decline

Soho House stock is down 55% all-time.

Its largest owners are considering going private after a short seller report draws comparisons to WeWork. The short seller claimed the company was never profitable in itā€™s 28-year history and wanted to dump on retail investors while its debt surged. The short seller gave Soho House a target price of $0.

This slide deck highlights:

  • Business model

  • Growth strategy

  • Global membership platform economics

See you next Tuesday,

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