Medallia (MDLA) - IPO

Customer Experience SaaS platform Medallia has filed for a $100 million IPO - their main competitor, Qualtrics, was acquired by SAP days before trading for $8B in cash.

Alex Clayton has done a thorough S1 breakdown here :

Medallia is the largest standalone player in the experience management software space after the Qualtrics acquisition. Their biggest competitor, Qualtrics, was slightly larger from a revenue perspective and was growing faster. With that said, the same trends that enabled Qualtrics to grow and ultimately be acquired for a strategic multiple by SAP will likely enable Medallia to trade well, even with a slower revenue growth rate. There’s a massive market for large enterprises that need insights about their customers (both B2C and B2B), employees, and products?—?Medallia should have a successful IPO.…