SaaS star Postman sees 30-40% cut in valuation in secondary deal

Postman, the most valued Indian-origin SaaS startup at $5.6 billion, has struck secondary deals at a 30-40% discount recently, said people aware of the matter.

While secondary transactions are typically finalised at 10-15% discount to the last primary valuation, Postman’s latest deals are at a steep discount to its valuation which more than doubled during the peak funding cycle of 2021, underscoring the steep decline in value for SaaS firms on revenue multiples. Angel and early investors have partially sold their stakes in the Bengaluru- and San Francisco-based firm in the latest rounds, people said.