{
  "docId": "019f6b8f-148c-71c9-ac0f-40186ec7e732",
  "docSlug": "jarvis-eminence-pluralsight-presentation-february-2021",
  "documentTitle": "Eminence Pluralsight Presentation February 2021",
  "authorId": "eminence-pluralsight-presentation-february-2021",
  "authorName": null,
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2021-02-01 00:00:00",
  "orientation": null,
  "aspectRatio": null,
  "pageNumber": 6,
  "pageCount": 20,
  "prevPage": 5,
  "nextPage": 7,
  "slideType": "valuation_reveal",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 2,
  "notes": "Uses a historical stock price chart to visually demonstrate the lack of shareholder value creation.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019f6b8f-148c-71c9-ac0f-40186ec7e732/6",
  "deckHref": "/decks/019f6b8f-148c-71c9-ac0f-40186ec7e732",
  "deckJsonHref": "/decks/019f6b8f-148c-71c9-ac0f-40186ec7e732.json",
  "deckAnchorHref": "/decks/019f6b8f-148c-71c9-ac0f-40186ec7e732#slide-6",
  "components": [
    {
      "bbox": {
        "h": 0.65,
        "w": 0.9,
        "x": 0.05,
        "y": 0.27
      },
      "kind": "chart",
      "text": "Historical Price Chart of Pluralsight",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a25299f7-f626-4190-8a08-d82d36fd063c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.2,
        "x": 0.11,
        "y": 0.75
      },
      "kind": "other",
      "text": "May 17, 2018: Pluralsight closes at $20 after the first day of its IPO, roughly the same price as Vista's offer",
      "attrs": null,
      "subkind": "annotation",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "54460738-f68c-4d27-911a-4bb5a6d4f087",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.2,
        "x": 0.75,
        "y": 0.32
      },
      "kind": "other",
      "text": "December 11, 2020: Vista and Pluralsight announce merger agreement at $20.26, a mere 7% premium to the prior trading day",
      "attrs": null,
      "subkind": "annotation",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "feca040d-ab82-4446-8bd0-f2fdff1de644",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.15,
        "x": 0.05,
        "y": 0.95
      },
      "kind": "other",
      "text": "Source: Bloomberg, Company Filings",
      "attrs": null,
      "subkind": "source-note",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "79387a5b-232c-40f6-93ab-8a09d4e5722d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.86,
        "x": 0.07,
        "y": 0.09
      },
      "kind": "paragraph",
      "text": "The acquisition price of $20.26 per share implies zero value creation for shareholders from the time of the IPO in May 2018 and to make matters worse, management is forcing a sale just as KPIs are inflecting positively as headwinds from COVID and prior sales force execution issues begin to abate.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2497db2d-0e4d-40f5-8161-5c41a52fec8f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.14,
        "x": 0.43,
        "y": 0.03
      },
      "kind": "title",
      "text": "Valuation",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "07fb227a-a27d-4b78-b33d-f5adfb78d5dc",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "expose_contradiction",
      "slug": null,
      "matchId": "9ef93988-0512-4a76-abea-61e9dacf5123",
      "evidence": "Contrasts IPO price with acquisition price to show zero value creation.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 16,
      "from": 5,
      "beatId": "e3a5d247-b501-4daf-b5b7-c3d00de96de3",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Agitate",
      "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
      "evidence": "The document agitates the problem by highlighting the flawed process",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}