Law Firm DWF Raises £95m in First-Ever Main Market Legal Listing (via City AM)

So I think this is one of the more interesting developments worthy of consideration.   The 21st Largest UK Law firm DWF went public last week on the mainboard of the London Stock Exchange.

Here is the rough numbers as of the go public date —
2018 Revenue of £236m and a go public valuation of £366m = ~1.6x times Revenue.

I view this as being about the right multiple here (particularly given the fact that expensive labor is such a large part of the equation).

To my knowledge,  they do not have serious software or AI offerings with which the can boost the revenue multiple … (product/software biz gets like 3x – 7x+ Rev).

One question is whether they can use the new money to build products and then press for a higher multiple downstream?    Everyone is trying to nail the {product, service} bundle … perhaps a £95m cash infusion will help ?

The 19th Annual Law Firm Leaders Forum – NYC (Presented by Thomson Reuters Legal Executive Institute)

Thomson Reuters Legal Executive InstituteTomorrow I will be speaking at the 19th Annual Law Firm Leaders Forum in NYC (Presented by Thomson Reuters Legal Executive Institute).  This annual event draws a large number of leaders from the AMLaw 200 law firms. The focus of my panel will be the Emerging Role of Technology in the Law Firm Model.  I am joined by a world class faculty which includes representatives from Law firms, In House, Legal Tech and the Legal Academy, etc.