Perhaps, but I think the key there is could winedepot really...

Perhaps, but I think the key there is could winedepot really have caught Kaddy. I really doubt it.

The only metric winedepot were beating kaddy was on the logistics side.

Yes I agree they needed funding, but there are a lot of vc's and private investors who would happily hand over $10m to buy into a SaaS company with a proven model, team, growing rapidly etc..

This meant that fast forward 2 years, Kaddy is the go to b2b platform in AU and had already expanded internationally and they most likely integrated into a few logistics providers (or even acquired their own).

That's why I believe Winedepot had no choice but to pull the trigger. And Kaddy knew this, that's why we paid a 38x multiple AND did it using script at a deflated valuation.

In any case, we have the converted Kaddy asset now, I just hope there's no 'winedepot/dw8 pride' that will get in the way of us moving forward and becoming Kaddy.

For the record, I do believe when the dust settles we will eventually resemble something like Kaddy with logistics, but the messaging at the moment reads as though they are still figuring this out.