Today Bailador has announced to the ASX that it has sold approximately $10m of its current holding in SiteMinder at an enterprise valuation of $1.1bn.
The selldown was initiated during SiteMinder’s recent equity raising which generated strong demand from a large number of high quality international Australian investors such as BlackRock Investments, AustralianSuper, Ellerston and Pendal Group.
Paul Wilson, Bailador Co-Founder and Managing Partner, said: “We are delighted to see strong investment demand for SiteMinder from such high-quality investors globally; it’s a testament to the tremendous progress and global scale that the team has achieved to date. SiteMinder has been a terrific investment for our shareholders and we strongly believe there is significant valuation upside to come. We look forward to continuing our close working relationship with the SiteMinder Board and executive team to achieve this outcome.”
Pictured: David Kirk and Paul Wilson, Bailador Co-Founders
Mike Ford, SiteMinder Founder and Managing Director, said: “Bailador was one of SiteMinder’s earliest institutional investors and their contribution as both shareholders and members of our Board over the years has been invaluable. As we look to accelerate our journey of growth globally, we are delighted to be continuing our relationship with the team at Bailador and sharing in many more milestones to come."
Read our full release to the ASX and SiteMinder's Press Release here.
The news of SiteMinders new unicorn status was also reported in the AFR, click here to read the full article.
Pictured: The Australian Financial Review, 17 January 2020
The Australian reports that Bailador cheers the latest Aussie unicorn, click here to read.
News.com.au reports on Australia's newest tech unicorn, click here to read.
TechCrunch published the article 'SiteMinder raises US$70m at $750m valuation after cresting $70m ARR in 2019', click here to read.
Business News Australia reports that SiteMinder has joined the Unicorn club, read more here.
SmartCompany reports that SiteMinder is the first Aussie unicorn to be crowned in 2020, read more here.
Paul Wilson, Bailador Co-Founder, and Sankar Narayan, SiteMinder CEO, spoke to Stockhead about how the Australian tech company SiteMinder caught the market’s attention last week, raising north of $100m from a series of blue chip investors.