For a few years, software had two things that private equity firms coveted: brisk growth and inert customers who tended to sign up and stay put. Buyout firms piled in. But the so-called SaaSpocalypse — which reached fever pitch last week as investors offloaded shares in companies that sell software as a service — has called the wisdom of that trade into question.
几年来，软件行业具备私募股权公司看重的两个要素：快速增长和惰性的客户（倾向于在签约后一直保持忠诚）。收购公司纷纷向“软件即服务”(SaaS)行业大举投资。然而，所谓的“SaaS末日”（投资者一窝蜂抛售SaaS公司股票的趋势，上周达到高潮）令人质疑这种投资策略的智慧。
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