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LetsGetChecked is set to merge with Truepill, a former US unicorn, as part of a growing trend in mergers and acquisitions amid challenging financing conditions. The merger documents reveal interesting details, including a previous acquisition offer that fell through from one of Truepill's largest stakeholders. Truepill's acquisition is valued at $525 million, although it has raised $370 million from prominent investors such as Initialized Capital, Oak HC/FT, and Optum. The ongoing discussions in the tech industry indicate that the creator economy sector is still active, with many startups receiving acquisition pitches despite a perception of a slowdown in M&A activity.
Truepill was acquired for a $525M total consideration as reported by Axios (link in next post). But seems like no one made any money. Truepill's background: It raised $370 million total from tier 1 investors like Initialized Capital, Oak HC/FT, Optum, and Optum Ventures. The…
Pro Weekly: Creator Economy M&A Isn't As Quiet as It Might Appear Two major creator economy CEOs say they’re getting tons of pitches to buy startups, suggesting the era of fire sales may not yet be over. https://t.co/EHJNTQpjiP From @akashpasricha
Dealmaker: The M&A Matchmaking in VC Portfolios Truepill's pending merger with another startup backed by one of its top investors signal a growing trend in an era of tough financing. https://t.co/L7310jVcCG From @nmasc_