DW8 Growth, page-10502

Kaddy is only $900k pa revenue.

$18M GMV x 5% = $900k.

Kaddy was acquired at x38 multiple whereas DW8 is trading at about x25 multiple.

Kaddy was worth x10 multiple best case x $900k = $9M or about 25% of the acquisition price.

Hold another company that just acquired $3M of revenue for $8.4M = x2.8 multiple & it includes Runcit Hero, a B2B marketplace in Malaysia including all the payments processing & 30,000+ customers. SP was 43.5c at the time but they completed the acquisition at recent CR price of 55c SP.