PreIPO formalizes TABS ‘Diligence-as-a-Service™’ acquisition

by James · July 29, 2022

PreIPO acquires TABS Suite

BOCA RATON, Fla., July 28, 2022 (GLOBE NEWSWIRE) — PreIPO Corporation (“PreIPO”), a Florida-based secondary market and private securities exchange, has completed the due diligence phase and entered into definitive agreements to acquire Singapore-based Diligence -as-a-service platform TABS Suite (“TABS”), expands the capabilities of PreIPO’s transaction platform by carefully expanding it on both late and early deals. In addition, the TABS modules will enable the PreIPO platform to uniquely aggregate and integrate various insights of the companies listed on the platform into a seamless online and mobile digital ecosystem, reducing the time to decisions during the evaluation and due diligence process for both . investors who buy and issuers who list their shares on the PreIPO.

The two firms have been working together for more than 18 months, and the initial partnership started with a SaaS licensing agreement. COO Michael Carney explains that with the acquisition of TABS, “PreIPO Corp is now in a position to completely disrupt the traditional model of due diligence in private markets and we are extremely excited to unveil this platform to our current and future users.” The deal was structured as a combination of cash and stock, with key management of TABS joining the C-Suite at PreIPO as Chief Technology Officer & Head of Product, and is expected to close in the coming months as PreIPO closes huge partnerships.

Since its inception, the TABS Suite, through its qualitative and quantitative modules that provide a ‘TABS Score™’, has effectively established itself among individual investors and firms as a standardized risk calculation that companies must bring to the table as part of standard due diligence – with a powerful increase in the adoption rate in the last 12 months. Due to its newly acquired ability to provide powerful price discovery analysis and information, PreIPO stands out from the others operating in the same market.

Atim Kabra, TABS CEO, explains that “the departure comes at the right time in TABS’s product life cycle in terms of the capabilities of the experienced PreIPO leadership team and their vision to scale the unified technology suite to new heights.”

Since its inception, TABS has experienced unprecedented growth in the rapidly developing FinTech market, not only in the early stage diligence sectors. As a result, PreIPO expects the functionalities of TABS Suite, such as Fund of Funds due diligence for LPs and GPs, the AI-powered code review module, PE Quant Analysis and the INTELLI price discovery tool to be perfect compliments to PreIPO-as-a-Service ™ platform will be unveiled in the second quarter of this year. Prior to the acquisition, TABS has entered into discussions with several major banks, local US government lending arms, private equity and venture debt investment companies, all of which are now presented with a unified and enhanced offering (PreIPO) led by a world-class team of industry veterans.

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About PreIPO Corporation

PreIPO is a financial technology company specializing in private market securities transactions for investors, sellers, issuers and financial institutions. A pioneer in distributed financial systems, PreIPO is in the process of deploying the PreIPO platform at PreIPO.com and is led by CEO Shon Ranawat. Financial institutions interested in obtaining a white-labeled version of the PreIPO platform should get in touch [email protected] or visit www.preipo.com.

About TABS Suite

TABS Suite is the first DaaS (Diligence-as-a-Service) platform that provides a comprehensive, holistic and in-depth qualitative evaluation of various stage ventures. Founded by Unnat Bak as an Entrepreneur-in-Residence with Frontline Strategy Funds, TABS enables entrepreneurs to interact with the TABS machine learning platform, which takes a “full-body x-ray” and scores the company by assigning value to intangible assets that include off-balance sheet assets accompanied by a detailed diagnostic report, an action plan with specific steps, comparative analyzes and tailored recommendations. TABS Suite has been widely adopted as a way for anyone to see under the hood of a growing business, whether it’s an individual angel, a micro-VC, a family office or an established incubator, at a fraction of both the time and cost.

Contact information

Michael Carney / COO
Email: [email protected]

Telephone: +1 (305) 450-9287

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