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  "notes": "Uses conflict of interest as a narrative device to suggest a biased M&A process.",
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      "text": "We believe Vista, with its strong relationships with Avalara and Goldman Sachs, may have been the preferred buyer from the start",
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      "text": "Goldman Sachs has a longstanding and lucrative relationship with Vista\n- Goldman has earned more than $80 million in fees during the last two years alone from Vista and its affiliates and portfolio companies\n- Goldman has also received another $43 million from Vista equity holders and their affiliates\nMembers of Avalara’s Board also appear to have a close relationship with Vista\n- Director Marcela Martin serves on the board of a Vista-controlled company, Cvent, with four other Vista professionals, including the Vista partner that was responsible for the Avalara deal\n- Director Rajeev Singh has also served on the board of a company that Vista acquired (Apptio)",
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      "text": "Source: Avalara Definitive Proxy Statement, filed with the SEC on September 12, 2022, at page 60. Id. at 66. Source: Avalara 2022 Definitive Proxy Statement, filed with the SEC on April 21, 2022, at page 7.",
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      "text": "3 Vista May Have Been the Preferred Buyer All Along",
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