saltybit
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Posts posted by saltybit
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https://www.cnbc.com/2019/04/26/slack-releases-s-1-for-ipo.html
Some comparable enterprise Saas companies..
Okta https://finance.yahoo.com/quote/OKTA/key-statistics/
EV/revenue - ~28
yoy revenue growth - 49%
zendesk https://finance.yahoo.com/quote/ZEN/key-statistics/
EV/revenue ~15-16
yoy revenue growth - 41.3%
Slack's revenue was 400M and grew by 82% yoy.
They have ~850m in cash.
Shares have been trading in the secondary market for 17B, which would be an EV/revenue of ~40. (if I did the calculation right)
What would you buy it at?
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A fantastic memoir of coming from China to America
https://www.amazon.com/Out-Gobi-Story-China-America/dp/1119529492
WSJ review
author interview
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A funny mall game from Bloomberg :)
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other relevant articles, more on the pessimistic side:
https://www.wsj.com/articles/slowing-mall-rent-growth-poised-for-a-challenging-2019-11546606800
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What do folks think of Class A mall REITs? seems like they've gone down a bit as a class the past year (due to pessimism about e-commerce and big-box retailer troubles like Sears), but given the prime location of some of their properties, it might be a short-term headwind.
Here's an example of a mall space being converted to office space in LA https://la.curbed.com/2019/1/8/18173979/westside-pavilion-google-office-space
writeup of one of the REITs on seeking alpha (Macerich)
https://seekingalpha.com/article/4235594-macerich-favorite-mall-operator
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Wondering if anyone tried this out before? https://www.richuncles.com/
WSJ article: http://archive.is/3Zqvp
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John Malone
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Thought some of you might find this interesting
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Anything specific that you're looking at?
Starting at the list here http://realmoney.thestreet.com/articles/04/26/2017/japans-battered-trading-companies-get-double-boost
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LBTYK, AAPL, LILAK
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https://www.youtube.com/watch?v=DUvOPD_8icg
Apologies if this was already posted. Did a search and didn't find anything.
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What do people think of this sector now?
I think TI (telecom Italia) is interesting, relatively cheap and with Bollore/Vivendi on board, there will probably be deals and catalysts in the future.
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Wondering which economist blogs folks have found useful and subscribe to.
Personally I follow:
http://jpkoning.blogspot.com/ (JP Koning)
http://www.digitopoly.org/about-3/ (digitopoly)
http://aswathdamodaran.blogspot.com/ (Aswath Damodaran)
At what valuation/multiple would you buy Slack at?
in General Discussion
Posted
some notes from their S-1:
https://www.sec.gov/Archives/edgar/data/1764925/000162828019004786/slacks-1.htm
Financial statements show that Slack’s biggest expense by far is sales and marketing, which accounted for $233 million in fiscal 2019, equivalent to 58% of revenue. Slack has been spending heavily on advertising and “brand marketing.” Raising the profile of Slack’s brand name will be important when the company goes public, to ensure investors know what the company does.
• General and administrative costs doubled in the year to $112.7 million, which Slack attributed to expanded finance, accounting, legal and HR employees. That increase may reflect Slack’s preparation to become a public company.
• Slack’s net loss was roughly flat in the most recent year, at $138 million.
• The company’s paid customers use Slack on an average workday for more than 90 minutes.
• About 40% of its fiscal 2019 revenue came from just 575 paying customers, each of whom generated more than $100,000 in annual recurring revenue for Slack.