I can appreciate why you have taken this position!
I bought today again, too.
After re-listening to Shaun’s 2024 commentary and slides in his decks, I’m very excited.
Property Guru was bought out by PE on a 7x rev multiple in 2024 on a business that was still losing money chasing the higher revenues they promised upon SPAC listing. Google “Property Guru Private Equity”.
further;
Infocasas has a 0.2 million monthly leads but converts to a $6.4 million quarterly revenue (in 2Q 2024)
Fincaraiz and Yapo have over 1 million monthly leads. Yet contribute less than half the revenue to LATAM. Infocasas is a cracker but imagine what Fincaraiz will do in a lower interest rate environment on the new tech stack. Yapo has some catch up and E24 can lift with the new management installed within the last 3-6 months.
LATAM 360 has legs. Not sure which way Shaun views it’s short term life but if there is a change of control, he will get fair value and not the 1.5x rev multiple being pandered by the lowly pessimists!
FDV Price at posting:
26.5¢ Sentiment: Buy Disclosure: Held
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