from Hacker News

Thoughtworks to Be Taken Private by Apax Funds for $4.40 per Share

by obiefernandez on 8/5/24, 11:43 PM with 2 comments

  • by rvz on 8/6/24, 12:21 AM

    So this is what the clean code consultants were doing, couldn't sell anything and the stock fell 90% down. No recovery in sight.

    The original owners pumped at IPO and dumped it right into retail's face for tens of millions.

    Congratulations to anyone who shorted this at over 20x leverage from weeks after IPO.

  • by obiefernandez on 8/5/24, 11:58 PM

    2021 - Apax takes Tw public and gets really rich

    2021-2024 - Tw proves it cannot manage itself and doesn't know how to sell. Sails the firm onto the beach.

    2024 - Apax buys the company back for pennies.

    Rinse repeat.

    A shareholder class-action suit would not surprise at all