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Datto sets initial IPO price range, indicating a valuation of around $4B

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It was just a few weeks ago that Datto, what TechCrunch called a “backup and disaster recovery firm,” filed to go public. This week the firm set an initial range for its debut.

The Vista Equity Partners -backed company was picked up by the private equity firm back in 2017. Vista is back in the news lately for several reasons, some stemming from executive shenanigans — read: tax evasion and huge penalties — but at least what’s coming from Datto’s camp is good tidings.

How so? Vista bought Datto for around $1.5 billion, and is set to make billions on its exit, based on the company’s expected IPO pricing.

Per the data firm’s latest S-1 filing, Datto is targeting a $24 to $27 per share price range. Here’s the math:

  • Total shares outstanding after IPO, sans underwriters’ allotment: 157,548,740 shares
  • Total shares outstanding after IPO, with underwriters’ allotment: 160,848,740
  • Max valuation at current prices, sans underwriters’ allotment: $4.25 billion
  • Max valuation at current prices, with underwriters’ allotment: $4.34 billion

Those two final numbers are dramatically bigger than the $1.5 billion that Vista is said to have paid for Datto.

How has Datto managed to generate so much value in the last few years? In financial terms, the company grew to a run rate of around $500 million, based on its Q1 and Q2 2020 revenue results. That gives the company a revenue multiple of less than 10x at its current IPO price maximum.

And that price makes sense. Datto is not growing very quickly, just 16% from H1 2019 to H1 2020, for example. The company did recently become profitable, however, which helps its valuation case. But more importantly, between 2017 and 2020 we have seen revenue multiples for software companies expand. That, plus Datto’s growth since 2017, have repriced it far above its sale price.

For Vista, it’s good news. Provided that they don’t get into tax issues over this particular set of returns. More on Datto as it prices and debuts.

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Keep That Hotdish Hot With 65% Off a Luncia Casserole Carrier, Only $11 With Promo Code

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Best Home DealsBest Home DealsThe best home, kitchen, smart home, and automotive deals from around the web, updated daily.

Luncia Double-Decker Dish Carrier | $11 | Amazon | Promo code SDDU9S7F

It has been a long time since the days we could safely have a potluck or other gatherings, but we have a fantastic deal perfect for once those times return. These double-decker Luncia dish carriers can be had for 65% off when you add promo code SDDU9S7F at checkout and clip the coupon on the site (it’s just below the price). These holders fit 9″x 13″ sized baking dishes.

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That means you can insulate and keep two dishes of food warm for only $11 instead of $30. What’s more, your Luncia carrier will arrive by Christmas if you order today as a Prime member.

Just add promo code SDDU9S7F and clip the 5% off coupon to bring the price down to $11 for the blue or the grey option.

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Grab this offer while it’s still around!


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Conquer Your Pup’s Dander and Fur With $700 Off a Cobalt or Charcoal Bobsweep PetHair Plus Robot Vacuum

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Best Home DealsBest Home DealsThe best home, kitchen, smart home, and automotive deals from around the web, updated daily.

Bobsweep PetHair Plus Robot Vacuum & Mop (Cobalt) | $200 | Best Buy

Bobsweep PetHair Plus Robot Vacuum & Mop (Charcoal) | $200 | Best Buy

Allergies can be bad enough as the seasons change. Don’t let pet hair and dander add to that by vacuuming it up early and often. That chore is easier said than done— unless you have a robot vacuum to do the work for you. This lovely bright cobalt Bobsweep PetHair Plus robot vacuum and mop, only $200 today at Best Buy seems like an ideal option. That’s a whopping $700 off, by the way.

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You can get the same deal for the charcoal version of the robot vac, too. This model is not only specially made for picking up pet hair, it self docks and charges when it’s finished with the work.

It also comes with a mop attachment, so it can take care of those kitchen floors for you as well. Grab it while it’s still available for this fantastic price!

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Apple will replace AirPods Pro for free with faulty noise cancellation, static or crackling

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Today, exactly one year after Apple first launched the AirPods Pro — and thus the same day the very first AirPods Pro owners will see their one-year warranties expire — Apple has launched a repair program that offers free repairs or replacements for another whole year if your AirPods Pro experience issues with noise cancellation or static.

Specifically, Apple will fix:

Crackling or static sounds that increase in loud environments, with exercise or while talking on the phone

Active Noise Cancellation not working as expected, such as a loss of bass sound, or an increase in background sounds, such as street or airplane noise

Apple says only a “small percentage of AirPods Pro” are affected by the issues, but it apparently wasn’t just an early batch — Apple says affected units were manufactured “before October 2020,” meaning every AirPods Pro ever made might be eligible. That’s quite a recall if so. Apple says it will repair faulty AirPods Pro for two years after you first buy them.

We’ve heard complaints about degraded noise cancellation before, and at least one Verge editor has replaced their AirPods Pro under warranty. It’s nice to hear that Apple isn’t just cutting buyers off as soon as that warranty expires.

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