Roblox – Updated Charts

I update the slide with 4Q20 data in latest S1. Direct listing of Roblox will be interesting because market appetite has shifted in last two weeks and the underlying business of Roblox seems to be normalizing this year based on company's expectation (conservative?). Roblox has strong cash flow and just raised a private round so … Continue reading Roblox – Updated Charts

Pinterest – Initial Model

Pinterest (PINS.US) [October 19, 2019] Initial Model Download the work-in-progress model in excel here to play around 🙂 It's been a while since I put together initial analysis and deck skeleton on Pinterest. However, I have some difficulties to convert my thesis (particularly business development and competition) into numeric assumptions and found it's not easy … Continue reading Pinterest – Initial Model

Pinterest – Initial Analysis

Pinterest (PINS.US) [August 14, 2019] Initial Analysis [0] Analysis Background | Approach Selection While Pinterest has been a listed company since April this year, it is still in early stage and is more like a pure play of something. If you think runway left is enormous, a bottom up approach to follow the company increases … Continue reading Pinterest – Initial Analysis

Mercari (4385.JP) – Note on Category Deepening, Product Enhancement & Marketplace Stickiness

Mercari (4385.JP) [December 25, 2018] * Note on Category Deepening, Product Enhancement & Marketplace Stickiness * Following series posts on Mercari (initial analysis, withdrawal from UK) and its related topics (network effect and digital payment service), this notes examines Mercari recent marketplace deepening/expansion/enhancement initiatives and also does an ideation exercise on user generated content (UGC). The UGC … Continue reading Mercari (4385.JP) – Note on Category Deepening, Product Enhancement & Marketplace Stickiness