Ill take a look at BTH. Its interesting because it is essentially a US business that US investors have never heard of. Sales enablement, marketing, and CRM is a complex and competitive space. Its easy to fail but the upside to success is high. If you strike the motherlode with a neat function in the space then you can get acquired at a high premium by Salesforce or Oracle etc or grow quickly to eventual profitability. We have looked at lots and turned down most. It is so hard to compete in the space. Interestingly we really like a UK company in the space but I cant say the name because we havent invested yet (We find the whole Brexit thing off putting)and still might. Ironically one of the factors about the UK company (whose product we looked at carefully and really love) that makes us hesitate is that they dont have enough sales in the US. Interesting that BTH has those sales.
The US software market is the hot crucible for SAAS sales. If a company can demonstrate that it can reach critical mass with a product that survives the scrutiny of sophisticated enterprise buyers in the US then that means a lot to us. We like (a lot) that LVT has Nike, United Airlines, Pepsi, US Department of Defense, Fox/Disney, Microsoft etc etc etc etc as customers because we know how tough these customers are to get into , and we know how thoroughly they research their alternatives , and we know that if there is an alternative Silicon Valley will have thought of it.
LVT fulfills a very basic need for every large and mid-sized organization. They all have an in-house intranet and they all need a home page and an employee portal for that intranet. Thousands of employees every day turn on their laptops and personal devices and go to their corporate portal. LVT supplies the cloud based tools that allow corporations to design and update that portal. Its an inexpensive basic need with great stickiness to the customers. Building from that foundation, LVT offers a growing suite of intelligent workplace software.
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LVT Price at posting:
51.0¢ Sentiment: Buy Disclosure: Held
