1. Each issue of DISTRESSED DEAL DATA™ puts certain words, in each deal description, in bold. What is the significance of that bolding?
Our researchers use bolding for two purposes: (a) to identify a key deadline, when it is known; and (b) to indicate the “category” of the deal.
2. What is meant by “category” of deal?
First, not every deal description describes an actual,live deal. Many deal descriptions describe data we are aware of that suggests a deal may happen- whether presently or in the near future. In other words, much of what we provide to our subscribers are leading indicators of potential deals.
With that explanation, the categories of deals our subscribers are given access to include the following types of deals:
3. Can you describe these categories in more detail?
Some are self-evident by their name so we won’t go through them all. However, some explanations are certainly warranted:
4. Is DISTRESSED DEAL DATA™ good for a billion dollar private equity fund or hedge fund?
No. Players like that have subscriptions to resources like Bloomberg Terminal, Debtwire, Reorg Research, and the like because players like that are elephant hunters. Their targets have publicly traded securities or are otherwise large enough to be picked up by the resources mentioned above. Although DISTRESSED DEAL DATA™ has some overlap with them because we report on larger 363 sales, going concern opinions and rating agency downgrades, we do so only selectively. DISTRESSED DEAL DATA’s™ strength is in reporting on opportunities that these other resources do not report on (opportunities our competitors do not report on either).
5. Is DISTRESSED DEAL DATA™ good for someone looking to buy a single piece of equipment or a single item to resell at a flea market?
If you are on the hunt to buy a truck or a timeshare or a piece of jewelry, then our service is not for you. If that describes you, then you will be better off using the services of one of our competitors which provide notice of each and every sale in each and every bankruptcy case.
We do not do that. We serve a smaller community of private fund professionals, corporate restructuring professionals, professional investors, industrial auctioneers, and others who seek to purchase entire plants of equipment, entire warehouses of inventory, portfolios of commercial accounts receivable, and going concerns. We filter out the small stuff. We are not a mere aggregator that uses technology to crawl PACER. Our net is wide, but we then use a great deal of discretion to block out the noise. For this reason, we report on fewer bankruptcy sales than our competitors. However, unlike our competitors who simply scrape PACER for search terms, we do not limit our bankruptcy reporting to sale motions. Instead, our researchers and analysts actually read through pleadings to look for first day pleadings, retention applications, and other early indicators that a sale motion is likely to be filed in the future.
6. Who are your competitors?
We have no competitors. Some players provide data on distressed public companies. Some provide data on bankrupt companies no matter their size. Only DailyDAC does what DailyDAC does.
7. How do you collect your intelligence?
Our deals are found using some proprietary sources, some public (but dispersed) data and a lot of spit & vinegar. We leverage technology but we do not rely on it to a fault.
DailyDAC has been around since 2010 and is the leading publisher of public notices of distressed asset sales in the United States. DailyDAC also: (a) maintains the most comprehensive list of assignees for the benefit of creditors in the United States; (b) maintains an industry-recognized listing of auction firms of excellence; (c) publishes educational articles authored by nationally renowned experts in corporate restructuring and insolvency, addressed to business owners, executives, and corporate directors who need to learn more about these subjects. These factors have served to make DailyDAC’s Opportunistic Deal Database™ the most trusted resource for fiduciaries (such as debtors in possession, bankruptcy trustees, receivers, assignees), their trusted advisors (accountants and attorneys), and intermediaries (auctioneers, business brokers, and investment bankers) to advertise time sensitive, even urgent opportunities involving sensitive situations (sometimes on a no-name basis). No amount of data scraping can achieve this result. Stated more simply, our ears are everywhere.
Our researchers and analysts have library and law degrees and our IT team harnesses the latest technology to locate, comb through and cull massive amounts of data efficiently and quickly, continually tweaking our processes over the years to maximize our efforts.
8. Hold on a moment. In your prior answer you mentioned DailyDAC’s Opportunistic Deal Database™. What is that and how does it relate to DISTRESSED DEAL DATA™?
DailyDAC’s Opportunistic Deal Database™ is DailyDAC’s original deal finding tool. Our researchers find and add approximately 50-100 deals to the ODD each week.
Every deal in the ODD includes some actionable information, but because of the quantity of the deals added every week, the supporting data and sometimes the actionable information are not as flushed out. This is perfect for the customer who wants to browse a lot of deals each week and have the first opportunity to reach out.
Once deals are inputted into the ODD, our analysts take over. They select the deals that are most relevant to our subscribers, add additional details, and double check for any mistakes. The result is the DDD. Subscribers to the ODD have the ability to review deals slightly prior to DDD subscribers, however, the ODD is limited to 100 subscribers, who must sift through many more deals with less robust information, and who provide feedback that helps make the DDD better.
9. Why limit the number of DDD subscribers to 350?
We do this for the same reason we limit the ODD to 100 subscribers: to create more value by limiting supply. If your competition is less likely to have the same access as you do, then you are more likely to derive more value from it. Plus, we are not greedy.
10. May I share the information I get when I subscribe to the ODD or DDD?
Mostly no but slightly yes. We welcome you to share a deal with a client. And another deal with a colleague. And a third deal with another client. And so on. We understand that many subscribers derive significant value from such sharing and that the inability to share would defeat the purpose of subscribing.
However, no subscriber may forward an entire issue of the DDD to anyone. Nor may a subscriber share more than one deal in a single email with anyone. Nor may a subscriber habitually share deals with the same person.
If a subscriber did any of these things, then it would hurt all other subscribers by devaluing the intelligence and it could put us out of business.
11. What if I violate the no-sharing rules?
We take the no-sharing policy very seriously. We offer a $500 reward to anyone who brings a sharing violation to our attention that we find to be true and accurate. If we believe that you are oversharing data, we will immediately cancel your subscription and will have the right to take legal action against you. We have implemented the most advanced technology to prevent this type of bad behavior and will not hesitate to remove bad apples. DailyDAC reserves the right to terminate any subscription at any time, without notice, if we feel these Terms & Conditions are being violated.
12. Are there other terms and conditions to using DISTRESSED DEAL DATA™?
There are a few in addition to others listed above. Here is the complete list: (1) Data in DISTRESSED DEAL DATA™ is emailed weekly and is provided on a reasonable efforts basis but is not guaranteed to be accurate or complete. (2) DISTRESSED DEAL DATA™ subscriptions are limited to 350 people on a first-come, first-served basis. (3) Subscriptions are personal to the subscriber; there are no firm-wide or company-wide subscriptions. (4) Subscriptions may not be transferred. (5) Subscribers are prohibited from forwarding an entire issue of DISTRESSED DEAL DATA™ or multiple deal summaries at the same time to anyone. Subscribers may, however, copy and paste any particular deal summary and email it to whomever they want, as many times as they want. (6) Click here to subscribe. (7) Subscribers may cancel at any time but will not receive a refund for a partial month. (8) DISTRESSED DEAL DATA™ and DailyDAC™ are trademarks of DailyDAC, LLC.