Equatorial waited out Enel's Brazilian flop, then bought Celg-D for R$1.58bn
After losing the 2016 Celg-D auction, Brazil's loss-fixing distributor Equatorial bought the Goiás utility from Enel for less than the seller had paid.
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2,000 CASOS PUBLICADOS · ATUALIZADOS REGULARMENTEDespegar survived COVID's travel wipeout, then sold itself to Prosus for $1.7 billion
Latin America's biggest online travel agency absorbed a 50% revenue collapse, rebuilt on cost discipline, and exited via a $1.7B all-cash Prosus takeover.
Ler o casoBAT paid a 20% premium for Bentoel to buy its way into Indonesia's kretek market
Locked out of the world's fifth-largest cigarette market, BAT paid $494M for its No.4 player and merged its own small local unit into Bentoel.
Ler o casoZscaler made zero trust the network and crossed $2B revenue
Zscaler rejected perimeter appliances for a cloud security exchange; FY2024 revenue rose 34% to $2.17B.
Ler o casoYouTube dropped video dating and opened itself to every clip
When nobody uploaded dating videos, YouTube abandoned 'Tune in, Hook up' and became a general video site Google bought for $1.65B.
Ler o casoWPP's pre-COVID simplification made the ad giant resilient in 2020
WPP started a radical simplification in 2018; by COVID year 2020, cost savings and lower debt cushioned the shock.
Ler o casoWorkday linked finance and HR and turned GAAP profitable
Workday expanded from HCM into a finance-and-people platform; FY2024 revenue rose 17% and net income hit $1.38B.
Ler o casoWolt turned delivery discipline into a €7B local-commerce exit
Wolt used the delivery boom to prove an efficient city-by-city model, then sold to DoorDash while keeping its brand and leader.
Ler o casoWhatsApp turned a status app into a 450M-user messaging network
Jan Koum started with address-book status updates, then made phone numbers the identity layer for simple mobile messaging.
Ler o casoWarburtons' fifth generation refocused the bakery and became a UK staple
Jonathan, Ross and Brett Warburton exited distractions, nationalized the brand and kept investing beyond white bread.
Ler o casoVolkswagen replaced the fading Beetle with the Golf and returned to profit
VW escaped its Beetle dependence by launching the front-drive Golf, then recovered from a 1974 loss to profit in 1976.
Ler o casoVirgin Atlantic used a court plan to survive and regain record revenue
Virgin Atlantic's £1.2B 2020 recapitalisation preserved the airline; 2023 revenue reached a record £3.1B.
Ler o casoUni-President handed Alex Lo the chair and compounded Taiwan food retail
Founder Kao Ching-yuan gave his son-in-law Alex Lo the chair in 2013; revenue later rose to NT$581.1B in 2023.
Ler o casoTwitch spun out Justin.tv's gaming category and became a $970M platform
Justin.tv followed its strongest category, spun gaming into Twitch in 2011, and sold to Amazon for about $970M three years later.
Ler o casoTupperware sold to lenders and kept core markets alive
Tupperware's 2024 Chapter 11 sale preserved the brand, core markets, and a digital-first reset under new owners.
Ler o casoTrek handed the bike maker to John Burke, who refocused it on quality
Richard Burke's son took over in 1997, cleaned up focus and helped turn Trek into a global bike business.
Ler o casoTreeHouse Foods answered JANA by selling meal prep and simplifying
JANA won two board seats in 2021; TreeHouse later sold much of meal prep for $950M and focused on snacks and beverages.
Ler o casoCoca-Cola bought Topo Chico and scaled a Texas cult mineral water
Coca-Cola acquired Topo Chico's US rights in 2017, planning national expansion while preserving the 1895 brand's heritage.
Ler o casoTomTom sold Telematics and rebuilt around location technology
TomTom sold Telematics for EUR910M in 2019, returned EUR750M, and by 2023 had EUR491M in Location Technology revenue.
Ler o casoToast made restaurant software profitable after handing a founder the CEO seat
Toast put co-founder Aman Narang in charge in 2024 and reached its first GAAP profitable year.
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