WebSideStory
IPO 2004
Acquired by Omniture, later acquired by Adobe
"WebSideStory went through a huge transformation that required making tough decisions during a time of uncertainty. Summit stuck with us for the long-term and ultimately helped us achieve a great outcome for all."
Nearly tripled revenues during Summit’s investment
In 2004, the third SaaS IPO in history
Acquired by Omniture; later acquired by Adobe for approximately $1.8 billion
Nearly tripled revenues during Summit’s investment
In 2004, the third SaaS IPO in history
Acquired by Omniture; later acquired by Adobe for approximately $1.8 billion
When Summit invested in WebSideStory in 1999, it was a single-solution company providing a web analytics platform that it monetized through display advertisements. As the Internet advertising market deteriorated following the tech collapse in 2000, WebSideStory reoriented its business to a SaaS subscription model and began expanding its product offering to provide a full suite of on-demand digital marketing tools. To help lead the company’s transformation, Summit supported the recruitment of industry veteran Jeff Lunsford as CEO.
How Summit Partners Helped
- Helped recruit a growth-oriented management team, including a VP of Sales, a CMO and a CFO with public company experience
- Introduced WebSideStory to investment banks and helped it prepare for an IPO in the difficult market environment of 2004
- Assisted in the acquisitions of Atomz and Visual Sciences, extending the product line
Using capital raised in its IPO, WebSideStory made several significant acquisitions to expand its product line. The company continued growing and earned widespread recognition as it evolved to become a real-time analytics platform serving more than 1,500 enterprises worldwide. Summit exited the investment in 2006. A year later, the company changed its name to Visual Sciences and was acquired by Omniture, which was subsequently acquired by Adobe in a transaction valued at approximately $1.8 billion.
The Portfolio Company Executive quoted herein did not receive compensation for any statements regarding Summit Partners. However, since WebSideStory is a former portfolio company of Summit, this individual did receive general compensation in connection with his employment by the company. In addition, this individual is not an investor in a Summit fund but may have conflicts arising from his past role with WebSideStory due to the company’s relationship with Summit.
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