alt Hacker NewsNot really. They dramatically overhaul the products. Bloated staff are cut, old tech-debt-saddled systems are thrown out and rewritten. In some cases they basically just keep the brand and the database and rebuild the product around that, in a smaller and leaner manner.
I actually think the model is interesting.
That is the PE playbook - buy ok company, revamp things to make it more efficient and profitable. The main difference seems to be whether the owners sell the revamped company or not.