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by karakoram·2mo ago·view on hn ↗
Why does $3.6B sound really low. Intercom seems like a major player in AI customer service. What's the catch here?

If I remember correctly, they were the first of the customer service chatbot SaaS companies to quickly pivot to a complete AI product.

A lot of hype too by their employees and founding team for Fin on LinkedIn. I did NOT expect the final exit to not even touch double digits. Very interesting.

1 comments
a small team can do customer service agents at much cheaper.
Yeah sure, but I am more wondering about the financial side of the deal. Especially in this capital and AI M&A environment. What kind of multiple of revenue or EBITDA did they get to end up with such a low number?

Google says revenue was 400 Million so the multiple was not even 10x? I remember in October 2025, CEO of Thoma Bravo said that a $50 Million ARR revenue startup/company was being valued at $10 Billion.

Looks like multiples have come drastically down.