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Adobe, Uber, JetBlue, Public Storage, Soho House

📩 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. Adobe’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:

  • Figma’s economics

  • Adobe’s acquisition strategy

  • Transaction details

2. Uber’s Acquisition of Postmates

Uber acquired Postmates for $2.65B.

Uber’s food delivery service was the company’s Covid crutch. Uber’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 Spirit’s lower rates. JetBlue’s CEO, Joanna Geraghty, called the merger “a bold and courageous plan intended to shake up the industry status quo” and speed JetBlue’s growth. Airline drama.

This slide deck highlights:

  • Comparison between JetBlue and Frontier bids to Spirit

  • Path to regulatory approval

  • Criticism of Spirit’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. That’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 House’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 it’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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