Zendesk acquired for $10.2B; turned down $17B offer earlier this year

finance.yahoo.com

39 points·gmays··7 comments

So I guess the owners of Zendesk think this stock downturn is permanent or very long term.

On May 3rd the stock was $121 [0] and their all time high was $150 in Feb.

Seems like an odd time to sell the company unless they think the company and/or the market is never going to recover.

[0] https://www.google.com/search?q=zen+stock

I guess they know damn well they are way overvalued…

Everyone was caught pants down with the sudden downturn. I am honestly surprised that people expected to keep this gravy train running but I guess the Russian war threw the monkey wrench in the works.

In Absolute terms of capital destruction, the current downturn is the worst ever in this history of US .. so far.

And paulg from yc is wrong that its just capital shuffling. he probably doesn't understand that much more money is created by mortgage loans than QE. Bankruptcies, QT and even loan repayment all remove/destroy money from the pool.

I think they’ve been a few problems with Zendesk before the downturn.

They had a shareholder revolt on the proposed Survey Monkey / Momentive acquisition earlier in the year and a following proxy battle.

There product seems fine and valuable. I guess they are suffering with investors wanting returns and to dominate the market rather than just be a business that ticks along.

The offers reflected the stock price, stock prices go up and down always.

Next up on the chopping block: Zoom and CRM.

CRM insider sales: http://openinsider.com/search?q=CRM

CRM still has a market cap of 180B after being the share price has been almost cut in half since November 2021. I don't think not many companies have the type of money to buy out CRM.

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