PitchBook, the Seattle startup that collects data on venture capital and private equity financings, is denying a report by PeHub that it is for sale. According to the report, which cites unnamed private equity sources, PitchBook is being “shopped around.”
But CEO John Gabbert — who previously ran the Dow Jones’ VentureOne research repository — tells PeHub that they are not on the block.
It is a bit ironic that a company that tracks venture capital deals and M&A transactions is the subject of acquisition talks by another organization that tracks venture capital deals and M&A transactions.
Nonetheless, Gabbert has built a compelling business by focusing on two core things, combining “the best data with cutting edge technology.”
Founded in 2007, PitchBook has raised $4.25 million in funding from Morningstar and others, with the latest capital arriving in 2009.
Gabbert tells PeHub that the company, which employs 275 people, is nearing 1,000 clients. Average annual subscription for the data is $20,000.
And while Gabbert is brushing off the rumors, he tells PeHub that they would sell if a company approached with a “ridiculous price.”
Nicely played, John Gabbert. Nicely, played.