I can't remember which poster it was, but someone here once argued that IOU could have got $4mil per year by drawing down on the $40 mil cash in hand, instead of being given $4mil profit every year from IDSB
The problem with that argument was that in 10 years you would have $0.
With IOU's investment, over 10 years not only will they have $40mil in the bank, but they will have an investment likely worth well north of $40mil....the good thing with the investment is that the valuation does not just get impaired automatically, only if the business's revenue/profit falls. And that does not look like happening soon.
It's simple math, but some seem to confuse themselves.
You can't put a PPI or BNPL valuation/multiplier on the IDSB revenue. I am sure IOU and its external advisors did their DD and decided $42mil was the price to pay - and definitely more research than HC posters. With each day passing and pure BNPL companies struggling, I think the decision to become a definitive fintech company rather than just BNPL will prove right in 2022 onwards.
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