Category: Business

How Many Shares of Atlassian does their CEO Own

As of February 3, 2023, Atlassian’s CEO, Scott Farquhar, owns 54,717,824 Class B shares. This represents 15.5% of the company.

Farquhar is the co-founder and CEO of Atlassian, a software company that develops products for software development teams. He has been with the company since its inception in 2002. Farquhar is a visionary leader who has helped to transform the software development industry with Atlassian’s cloud-based software solutions. He is also a strong advocate for corporate social responsibility and employee success.

What Do Analysts Think the One Year Price Target is for Nu Holdings (NU)

Analysts have a wide range of price targets for Nu Holdings in the next 12 months. The median price target is $7.85, with a high of $11.00 and a low of $4.00.

Here is a breakdown of the price targets from a few different analysts:

  • Morgan Stanley: $10.00
  • Barclays: $8.00
  • Credit Suisse: $7.50
  • Jefferies: $7.00
  • Evercore ISI: $6.50

These price targets reflect the analysts’ view of Nu Holdings’ growth prospects and valuation. The median price target of $7.85 suggests that analysts believe Nu Holdings is fairly valued at its current price. However, the high price target of $11.00 suggests that some analysts believe the company has the potential to grow significantly in the future.

Farizon has Raised $600 million to Expand its Truck Unit Outside of Mainland China

Farizon Auto, the truck unit of Chinese automaker Geely, has raised $600 million in a Series A funding round led by Geely Holding Group. The funding will be used to support Farizon’s expansion outside of China.

Farizon Auto was founded in 2021 and is headquartered in Hangzhou, China. The company develops, manufactures, and sells commercial vehicles, including trucks, buses, and vans. Farizon’s products are currently sold in China, and the company plans to expand to other countries in Asia, Europe, and South America in the coming years.

The $600 million funding round was led by Geely Holding Group, which is the parent company of Geely Auto. Other investors in the round include CMB International Capital, Hillhouse Capital, and Sequoia Capital China.

Farizon Auto’s CEO, An Conghui, said that the funding will help the company “accelerate its global expansion and become a leading player in the commercial vehicle market.”

The global commercial vehicle market is expected to grow at a compound annual growth rate (CAGR) of 4.4% from 2022 to 2027. This growth is being driven by the increasing demand for commercial vehicles in emerging markets such as China, India, and Southeast Asia.

Li Auto Not Planning to Expand Overseas Before 2025

Li Auto CEO Li Xiang has confirmed that the company has no plans to expand overseas by 2025. In an interview with TechNode, Li said that the company is focused on consolidating its position in the Chinese market before expanding to other countries.

Li Auto is a Chinese electric vehicle maker that was founded in 2015. The company’s first model, the Li One, was launched in 2019. The Li One is a hybrid SUV that combines an electric motor with a gasoline engine. The Li One has been a success in China, with the company selling over 100,000 units in 2022.

Li Xiang said that Li Auto is not currently considering expanding to overseas markets because the company wants to focus on improving its products and services for the Chinese market. He said that the company is also concerned about the challenges of expanding to other countries, such as different regulations and infrastructure.

However, Li Xiang did not rule out the possibility of Li Auto expanding overseas in the future. He said that the company will “continue to monitor the global market” and “make decisions based on the best interests of the company.”

Add Foreign Credit Cards and Use Them in WeChat Pay in China

WeChat Pay, the popular mobile payment app in China, has announced that it will now accept foreign credit cards for payment in China. This is a major development for WeChat Pay, as it will make it easier for foreign tourists and businesses to use the app in China.

To use WeChat Pay with a foreign credit card, users will need to add their card to their WeChat Pay account. They can do this by going to the “Wallet” tab in WeChat and clicking on the “Add Credit Card” button. Once they have added their card, they will be able to use it to make payments at any merchant that accepts WeChat Pay.

WeChat Pay’s decision to accept foreign credit cards is a sign of the company’s growing global ambitions. The app is already popular in China, but it is also looking to expand its reach to other countries. Accepting foreign credit cards will make it easier for WeChat Pay to attract users outside of China.

NuBank vs Barclays – is NuBank Overvalued?

NuBank (Nu Holdings) is pushing the banking industry in Brazil, Mexico and Colombia.

I have been wanting to invest in NuBank for some time, but I have thought for the past year or so – that their market cap has become so large that they are simply just un-investable at these levels.

To prove this was the case I thought I would do a very simple side by side comparison with a legacy bank that is predominantly in key markets.

MetricNu HoldingsBarclays
Assets Under Management$10.2B$2.3T
Number of Customers30M48M
Revenues$1.2B$25.4B
EBITDA$-78M$9.3B
Countries350
Market Cap$35 billion$28 billion

I know NuBank is in 3 emerging markets – with at least 200 million people in those countries that are currently unbanked. However, even if NuBank was able to have 100 million customers – expand their product lines and then start to really focus on other markets – do you think they can really grow to the AUM or sheer network size of Barclays?

Or is this a perfect short sell position?

What are Wise.com Interest Accounts?

Wise.com Interest Accounts are a new product that allows customers to earn interest on their USD, GBP, and EUR balances. There are no balance minimums or fees involved, and customers can still send, spend, or hold their money as they normally would.

Wise stores customer funds with program banks, which generates interest. The current variable annual yield on USD balances is 4.79%, GBP balances is 4.22%, and EUR balances is 2.83%.

To opt in to the Interest feature, customers simply need to open the Wise app or website and go to their existing USD, GBP, or EUR balance. They can then click on the “Interest” button to add the feature.

Wise.com Interest Accounts are a great way to earn a little extra on your money while still having the flexibility to use it as you need.

Did Atlassian Ever Raise Any Primary Outside Funding

No, Atlassian never raised any primary funding. The company was founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, who bootstrapped the company with their own savings. Atlassian went public in 2015, and it has been profitable ever since.

Here are some of the reasons why Atlassian never raised primary funding:

  • The company was founded by two experienced entrepreneurs who had a clear vision for the company.
  • The company’s products were well-received by the market, and they were able to generate enough revenue to self-fund.
  • The company’s founders were reluctant to give up control of the company to outside investors.

Atlassian’s decision to not raise primary funding has been a major factor in its success. The company has been able to maintain its independence and focus on its long-term goals. It has also been able to avoid the dilution of its ownership that often comes with venture capital funding.

What3words – Raising Crowdfunding with one of the Worst Profit and Loss Statements I have Seen in a While

what3words is currently raising funding via crowdfunder – Crowdcube. I have always found What3words quite an interesting concept, so I thought I would dig into their numbers.

On the crowdcube pitch – it states – Over £100M in all-time funding – https://www.crowdcube.com/companies/what3words-2/pitches/lz91xq.

Why is what3words crowdfunding for a target of £1m when they have received over £100m though the company life – marketing purposes only ???

Attached is their P&L for 2022. While they have nearly doubled revenues from 2021 to 2022 – it still seems a giant world away from where they need to be to have raised over £100m in funding. They need to over 10x their current revenues to even get to a breakeven on the current valuation size.

Its going to be very interesting to see if this is possible and if it really solves a giant real world problem!

How Much Money Did Bird Mobility Raise Before Going Public?

Bird Mobility has to be the biggest bomb of Venture Capital in the past 10 years.

The company was founded in 2017 – and raised $2.25 billion in venture capital before going public in June 2021. Since that time it hasn’t really gone to plan in any way – market, valuation, revenues, operations, etc.

At todays date – Bird which is public on the NYSE under the ticker – BRDS – has a Market Cap of $26 million.

It might as well be worthless at this point!

How Much Cash Does Costco Have Currently?

Costco Wholesale Corporation, commonly known as Costco, is one of the largest retail giants in the world. It operates a chain of membership-only warehouse clubs and is known for its low prices on a wide range of products. While Costco is a publicly traded company, it is always interesting to know how much cash it has on hand.

According to its financial reports, as of the end of the fiscal year 2020, Costco had a total cash and cash equivalents of approximately $8.2 billion. This is a significant increase from the previous year when it reported $4.9 billion in cash and cash equivalents.

Costco’s healthy cash position can be attributed to its strong financial performance and its ability to generate cash flows from its operations. In the fiscal year 2020, Costco reported a net income of $4 billion, an increase of 9.7% compared to the previous year.

It is also worth noting that Costco has a history of returning value to its shareholders through dividends and share buybacks. In the fiscal year 2020, the company returned approximately $3.6 billion to its shareholders in the form of dividends and share buybacks.

In conclusion, Costco is a financially healthy company with a strong cash position. Its ability to generate cash flows from its operations and return value to shareholders makes it a desirable investment for many investors.

Current Wise.com Fees in the UK

Wise.com (formerly known as TransferWise) is an online money transfer platform that has become increasingly popular in recent years. One of the reasons for its popularity is its low fees, which have made it an attractive option for people looking to send money abroad.

However, with the recent changes to the fees structure, it’s important for users to be aware of the current fees before making any transactions. Here’s an overview of the current Wise.com fees in the UK:

Transfer Fees

Wise.com charges a transfer fee, which is based on the amount you are sending and the currency you are sending it in. The fee is usually a percentage of the total amount being sent and can range from 0.35% to 2% of the total amount.

Exchange Rate

Wise.com uses the mid-market exchange rate, which is the rate that banks use when trading currencies with each other. This means that the exchange rate you get is usually better than what you would get from a bank or other money transfer service.

Additional Fees

In addition to the transfer fee, Wise.com may also charge additional fees for certain transactions. For example, if you are sending money to a bank account that is not in your name, you may be charged an additional fee. Similarly, if you are sending money to certain countries, you may be charged an extra fee due to local regulations.

Conclusion

Overall, Wise.com fees are still relatively low compared to traditional banks and other money transfer services. However, it’s important to be aware of the current fees before making any transactions. By doing so, you can ensure that you are getting the best deal possible and avoiding any unnecessary fees.

Why Uber Doesn’t Enter Small Regional Towns in the UK

Uber, a ride-hailing giant, has become a popular choice for those looking for a quick and affordable ride in cities worldwide. However, if you live in a small regional town in the UK, you may find that Uber is not available in your area. In this blog, we will explore why Uber doesn’t enter small regional towns in the UK.

Lack of Demand

One of the main reasons why Uber doesn’t enter small regional towns in the UK is due to the lack of demand. Uber operates in locations where there is a high demand for their services. This is because Uber’s business model relies on having a high volume of rides to generate revenue. Small regional towns may not have enough people or traffic to make it worthwhile for Uber to operate in those areas.

Competition

Another reason why Uber doesn’t enter small regional towns in the UK is due to competition. In small towns, there may be local taxi services that dominate the market. These taxi services may have an established customer base and have been serving the local community for many years. For Uber to enter these markets, they would need to compete with these established taxi services, which may not be financially viable.

Infrastructure

Uber also needs a reliable infrastructure to operate. In small towns, the infrastructure may not be developed enough to support Uber’s operations. For example, there may not be enough drivers or vehicles available to meet the demand for Uber services. Additionally, the roads and transportation systems in small towns may not be as developed as those in larger cities, which could make it difficult for Uber to operate efficiently.

Conclusion

In conclusion, Uber doesn’t enter small regional towns in the UK due to several reasons, including a lack of demand, competition, and infrastructure. While Uber may not be available in these areas, there are still other transportation options available, including local taxi services and public transportation.

Apple’s Cash Reserves: How Much Do They Really Have?

Apple Inc. is one of the largest and most successful technology companies in the world. The company is known for its innovative products, including the iPhone, iPad, and Mac, which have revolutionized the way we communicate and work. However, one of the most interesting aspects of Apple’s success is its cash reserves.

As of the end of the second quarter of 2021, Apple had a staggering $193.8 billion in cash reserves. This is a mind-boggling amount of money, and it’s hard to imagine just how much it really is. To put this in perspective, this is enough money to buy roughly 3,876,000 Tesla Model S Plaid cars, or to pay the yearly tuition fees of over 2.6 million Harvard students.

So, why does Apple have so much cash? Well, there are a number of reasons. First, Apple is an incredibly profitable company. In the second quarter of 2021 alone, the company generated $89.6 billion in revenue, with a net income of $23.6 billion. This level of profitability allows Apple to generate significant amounts of cash each quarter.

Second, Apple has a history of being very conservative with its spending. The company is known for being very disciplined when it comes to investing and spending money. This means that Apple has historically been able to generate significant amounts of free cash flow, which it can then use to build up its cash reserves.

Finally, Apple has also historically used its cash to invest in research and development, as well as to acquire other companies. This strategy has allowed Apple to stay at the cutting edge of technology and to continue to produce innovative products that consumers love.

In conclusion, Apple’s cash reserves are truly staggering, and they are a testament to the company’s incredible success and profitability. While some may argue that Apple should do more with its cash, there is no doubt that the company’s conservative approach to spending has helped it to build up a truly impressive war chest.

Spotify / Findaway – Dropping Its Cut on Audiobook Fees

Findaway, an audiobook seller owned by Spotify, has announced that it will no longer take a 20 percent cut of royalties for titles sold on its DIY Voices platform if the sales are made on Spotify. In a blog post published on Monday, Findaway stated that it would “pass on cost-saving efficiencies” from its integration with the streaming service. Last summer, Spotify finalized its $123 million acquisition of Findaway in a move to solidify its position in the audiobooks business.

While authors can upload their audiobooks onto Findaway’s Voices platform for free, the company normally uses an 80/20 pricing structure where Findaway takes a 20 percent fee on all royalties earned. However, that fee is applied after sales platforms take their own 50 percent cut on the list price. Under the old revenue split, an author who sold a $10 audiobook would have to give $5 to Spotify and $1 to Findaway. But moving forward, that same author will no longer have to pay the $1 distribution fee to Findaway when a sale is made through Spotify.

The Best 5 Free Investing Tools in 2023

Morningstar:

Morningstar is an American financial services firm. It provides an array of investment research and investment management services. You can take a look at a company’s financials, valuation, operating performance, dividend, ownership and much more.

Dataroma:

This site allows you to track the portfolios of the best investors in the world. Think about Warren Buffett and Terry Smith. You can also take a look at which stocks are bought the most by these superinvestors, which insiders are buying their own stocks.

Yahoo Finance:

Yahoo Finance provides you with financial news, data and commentary including stock quotes, press releases, financial reports, and original content. It’s a great website to check daily stock news or create a watchlist.

Seeking Alpha:

If you are looking for stock analysis, Seeking Alpha is the place to be. You can follow the stocks you want and you’ll receive an email each time someone publishes an article about the companies you’re interested in.

You can follow the stocks you want and you’ll receive an email each time someone publishes an article about the companies you’re interested in.

Investopedia:

If you want to learn about a certain investment topic, Investopedia is the place to be. It features articles, tutorials, videos, and other content designed to help individuals make informed financial decisions.

It features articles, tutorials, videos, and other content designed to help individuals make informed financial decisions.

Financials and Multiples on the Believe Digital and Sentric Music Publishing Deal

This morning we posted about Believe Digital acquiring Sentric Music Publishing.

I wanted to provide a little more context about the acquisition.

Sentric – Companies House accounts – https://find-and-update.company-information.service.gov.uk/company/05721428/filing-history

2021 Year End Numbers:

  • £29.5m Revenue (up 57% YOY)
  • £24.2m COGS
  • £4.8m GP (8.5x multiple to value)
  • £1.2m NP (34x multiple to value)

Acquisition price was $51 million.

It feels like this was a good price on both counts. Utopia obviously sold Sentric at a discount, but they really need to get rid of the asset (they only purchased a year ago). Believe got a good asset in a new market – at a reasonable multiple.