Goldman develops M&A matching app for clients

Goldman launched an app for clients called Gemini to help its clients find merger and acquisition prospects.

Why should we care?
Gemini has been called a Tinder-style app for Goldman clients seeking business opportunities, but that characterization might be oversimplifying the client need that Goldman is seeking to satisfy. M&A volume globally is down 47%, and with Gemini, Goldman is aiming to recreate some of the handshake-based dealmaking of the pre-COVID-19 era virtually. While in-person lunches may no longer be possible, clients are recognizing they can accomplish their goals more efficiently via remote tools, and the bank hopes Gemini can help fill some of the missed human connections of decades past. The app reportedly compares the performance of companies’ business units to competitors using a formula that compares revenue growth, profit margin, and other metrics as a percentage of sales. It is also expected to identify sale, spin-off opportunities, and takeover targets. Time will tell if social media-based dealmaking is here to stay for the long haul.