Smells of desperation to me, such a lowball offer indicates that they don't have bank to go much higher. They completed a $90m raise last April from Tiger Global and DST Global Partners. I make their burn rate around $20 to $25m per year, given the number of employees and advertising spend to date and the fact they are trying to buy out a competitor (i.e. lack of their own organic growth). They may have max a 3-year runway left unless they can bag a competitor and fudge growth to get some more VC money in - but given current funding conditions they would need to turn a real profit to get anything. If anyone is in a good position to get more funding it's SWF, maybe they should buy out Stake??
It has to be North of 40c to make any sense.
As always DYOR.
Ann: ASX Announcement - response to media speculation, page-6
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Last
12.0¢ |
Change
-0.010(7.69%) |
Mkt cap ! $28.07M | |||
| Open | High | Low | Value | Volume |
| 12.5¢ | 12.5¢ | 12.0¢ | $42.81K | 348.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 420961 | 12.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.0¢ | 46439 | 4 |
View Market Depth
| Last trade - 15.58pm 07/06/2024 (20 minute delay) ? |
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Last
12.5¢ |
Change
-0.010 ( 0.00 %) |
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| Open | High | Low | Volume | ||
| 12.5¢ | 12.5¢ | 12.5¢ | 60154 | ||
| Last updated 14.37pm 07/06/2024 ? | |||||
| SWF (ASX) Chart |