After doing some research I think RNT has a solid niche and is selling for a reasonable price. Could fizzle nowhere but I think with increased visibility this could easily go to $100m valuation overnight. I am happy to have a small punt on that basis.
My thoughts below:
Pros:
Targeting niche market - self-managed landlords
Building scale fast by starting with free offer
Expect to see more self-managed landlords as boomer landlords retire and want something to do
Website works well and has decent depth of listing
Own a good domain name
Strong growth in audience
Extra upside with things like utility connections, tenants insurance, etc as well as advertising
Invested $10M since 2007 getting things up and running - valued at $16m today
Bond financing is a good hook for renters to start using site, and likely to spread via word of mouth
Possible acquisition by REA, Domain, or another media/classifieds company
Execs are buying shares
Site growing faster than anticipated
Good amount of cash at bank
Main site infrastructure already built
Cons:
Can be challenging to convert free users into paid ones
Lack of current earnings
Valuation of $16M - Can REA or a tangential competitor build one for that? Suggest not.
Rent.asia - total red herring. Do people in other countries call it rent? .asia is not very local
Unlikely to grow to same size as REA Group
Interview http://www.theaustralian.com.au/bus...au-mark-woschnak/story-fn9656lz-1227413360962
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Last
1.7¢ |
Change
-0.001(5.56%) |
Mkt cap ! $12.65M |
Open | High | Low | Value | Volume |
1.8¢ | 1.9¢ | 1.7¢ | $6.054K | 335.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 150000 | 1.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.9¢ | 22000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 150000 | 0.017 |
5 | 215000 | 0.016 |
4 | 789000 | 0.015 |
2 | 160000 | 0.013 |
1 | 100099 | 0.010 |
Price($) | Vol. | No. |
---|---|---|
0.019 | 22000 | 1 |
0.020 | 43896 | 1 |
0.021 | 114958 | 1 |
0.022 | 6300 | 1 |
0.023 | 507400 | 2 |
Last trade - 15.23pm 08/08/2024 (20 minute delay) ? |
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