Companies

Case Study:

WebSideStory

“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.”

Jeff Lunsford, Former CEO

Location:
San Diego, CA
Leadership:

Jefff Lunsford

Founded in:
1996
invested in:
1999
Status:

IPO 2004

Acquired by Omniture, later acquired by Adobe

Case Study:

WebSideStory

Nearly tripled revenue in the four years following the tech collapse

Third SaaS IPO in history

Later acquired by Omniture, and then Adobe in 2009

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 lead this transformation, Summit recruited industry veteran Jeff Lunsford as CEO.

How Summit helped:

  • Recruited 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.

  • Boston

    Summit Partners

    222 Berkeley Street, 18th floor

    Boston, MA 02116

    United States

    T: +1 617.824.1000

    F: +1 617.824.1100

    London

    Summit Partners LLP

    Queensberry House, 3rd Floor
    3 Old Burlington Street

    London W1S 3AE

    United Kingdom

    T: +44 (0)20 7659 7500

    F: +44 (0)20 7659 7550

  • Menlo Park

    Summit Partners

    200 Middlefield Road, Suite 200

    Menlo Park, CA 94025

    United States

    T: +1 650.321.1166

    F: +1 650.321.1188