After doing some research I think RNT has a solid niche and is selling for a reasonable price. Could fizzle nowhere but I think with increased visibility this could easily go to $100m valuation overnight. I am happy to have a small punt on that basis.
My thoughts below:
Pros:
Targeting niche market - self-managed landlords
Building scale fast by starting with free offer
Expect to see more self-managed landlords as boomer landlords retire and want something to do
Website works well and has decent depth of listing
Own a good domain name
Strong growth in audience
Extra upside with things like utility connections, tenants insurance, etc as well as advertising
Invested $10M since 2007 getting things up and running - valued at $16m today
Bond financing is a good hook for renters to start using site, and likely to spread via word of mouth
Possible acquisition by REA, Domain, or another media/classifieds company
Execs are buying shares
Site growing faster than anticipated
Good amount of cash at bank
Main site infrastructure already built
Cons:
Can be challenging to convert free users into paid ones
Lack of current earnings
Valuation of $16M - Can REA or a tangential competitor build one for that? Suggest not.
Rent.asia - total red herring. Do people in other countries call it rent? .asia is not very local
Unlikely to grow to same size as REA Group
Interview http://www.theaustralian.com.au/bus...au-mark-woschnak/story-fn9656lz-1227413360962
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Last
2.1¢ |
Change
0.002(10.5%) |
Mkt cap ! $15.86M |
Open | High | Low | Value | Volume |
1.9¢ | 2.1¢ | 1.9¢ | $18.30K | 904.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 686941 | 1.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.1¢ | 691301 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 686941 | 0.019 |
3 | 605263 | 0.018 |
4 | 367598 | 0.017 |
2 | 77351 | 0.016 |
8 | 595425 | 0.015 |
Price($) | Vol. | No. |
---|---|---|
0.021 | 691301 | 2 |
0.022 | 18333 | 1 |
0.026 | 476190 | 1 |
0.030 | 50000 | 1 |
0.035 | 120000 | 1 |
Last trade - 15.35pm 13/09/2024 (20 minute delay) ? |
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