Over the past 45 days I’ve been working hard on a special deal, codenamed Project Duke, and I’m thrilled to reveal it today: Atlanta’s Pardot Acquired by ExactTarget for Almost $100M. Seeing the headline is still surreal to me, as is the whole experience and journey.
The Pardot team has the most amazing people and I’ve been honored, blessed, and humbled by the opportunity to work with them, especially my co-founder Adam Blitzer. Corporate culture comes first and Pardot lives it everyday. Walking around the halls I see people who are positive, self-starting, and supportive — exactly our goal. We believe that in providing the best place to work and the best place to be a customer everything else takes care of itself. It really is that simple.
ExactTarget, of which I’ve written about many times (Notes from the ExactTarget S-1 Filing, A Theory on the Amazing ExactTarget Success Story, etc) is unlike any 1,000+ person company I’ve ever worked with. The Orange Culture is as pervasive and strong as any culture I’ve seen. And, with 1,400 employees, they’ve scaled it to a massive level. ExactTarget is the only company I’ve ever read about that listed their corporate culture as a competitive advantage in their filings with the SEC — it’s an unbelievably good company.
Most acquisitions fail for one simple reason: lack of corporate culture alignment. With ExactTarget and Pardot, the corporate cultures couldn’t be more aligned and the growth opportunities more dramatic. People like to talk about complementary technologies, gaps in product portfolios, etc when it really comes down to the simplest thing — people.
The future is bright and I couldn’t be more thrilled that ExactTarget and Pardot have joined forces.