According to multiple sources with knowledge of the acquisition talks but not authorized to speak publicly on the matter, a high profile firm with a focus on Software as a Service (SaaS) was eager to purchase SnapAppointments, the fast-growing online appointment scheduling solution based in Seattle. The bid was raised at least twice during negotiations, reaching a number higher than the current valuation of SnapAppointments, but was ultimately rejected after serious consideration.
While the full details are undisclosed, sources claim it is almost certain that the bid will not be raised again, at least not at this time, and SnapAppointments has officially walked away. Representatives for SnapAppointments declined to comment on the matter, but we are told that the recent strong growth of SnapAppointments and their growing portfolio of major enterprise clients, as well as the excellent state of the Small Business/Enterprise SaaS industry in general, led to the decision.
Despite the expected disruption, it was business as usual at SnapAppointments, which won the „Rackspace: King of the Apps“ award when they launched at SXSW in March 2011. The day after officially ending takeover talks last week, SnapAppointments released the latest version of their flagship product, SnapAppointments Professional, which adds several new features to their already-impressive offering.
2013 is projected to be a big year for SaaS companies, with the focus shifting away from the hyped gimmicks and casual social apps that littered the Startup world and devastated countless portfolios in 2012, and toward useful, high-quality business solutions with proven business models. Clearly, SnapAppointments is banking on this projection.