$20M seems really low for Mixpanel. It's a reasonable multiple of what they've raised, but they've built a really good product that seems to be getting a lot of

$20M seems really low for Mixpanel. It's a reasonable multiple of what they've raised, but they've built a really good product that seems to be getting a lot of profitable traction. Especially in this market, I'd expect an acquisition to be >= 50M. I genuinely believe that they don't really want to be acquired, but obviously a good enough offer (probably ~100M) could make them reconsider