Yeah but remember Steve, there are many differences between the two acquisitions, most notably growth, and one was buying a competitor and the other was exploring other verticals.
I did a deep dive into MYD last week in fact and I think a multiple of 4.7 is generous.
I kept seeing them when searching for products and they were consistently the cheapest option, so I thought they might be onto something. Anywho, after some analysis, I found; - YoY top-line growth was 20.4% - They were targeting 2025 before profitable, but this would have been closer to 2026 given current growth - They were on track to lose close to $20m for the year - They needed a cap raise next year as they were burning through big advertising bucks to acquire sales - And to top it off, they randomly launched amazed.com - which to me said they weren't tracking as well as they hoped and needed to innovate.
Back to Kaddy - Remember, when the acquisition went down, Dean bought out a SaaS competitor that is cranking out the below growth numbers which also happed to become the main marketplace for DW8 and also become the brand of DW8.
Personally, I'm very happy with the acquisition of Kaddy. Crazy to think I'm still topping up at a market cap of $68m...Best bargain on the ASX imho.
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