DW8 Growth, page-13955

MYD revenue growth is 92% YOY. They are aiming for $500M GMV & positive EBITDA in FY25. Cash burn is $10.4M for past 9 months + $3M for property plant/IP.

The main difference is they make about 25% margin on GMV not 5% like Kaddy as they also have their own product range. DT mentioned some customers on Kaddy were below 5% & some above with average being about 5%.

$500M GMV x 25% = $125M revenue whereas Kaddy with same GMV would generate $25M revenue.

Appears WOW wanted MYD's 1M customer base even though growth has been low past year.

MYD is similar to other B2C marketplaces such as KGN, Catch, Ebay etc whereas Kaddy is a unique B2B marketplace with logistics.

Was a quick comparison & not like for like plus valuations are suppressed now. Interesting that WOW acquired them at this early stage made me start thinking that EDV may have plans for DW8. Was trying to estimate a comparative takeover price for DW8. Not good for DW8 shareholders if it happens soon. WOW are paying cash not even offering shares to MYD holders then will delist MYD.