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This report is missing notes. —-[[Special:Contributions/213.205.240.205|213.205.240.205]] 14:13, 15 March 2022 (GMT)
This report is missing notes. —-[[Special:Contributions/213.205.240.205|213.205.240.205]] 14:13, 15 March 2022 (GMT)


:Additional notes have now been added. If there's notes that are still missing, please flag on here. --[[User:Prisha|Prisha]] ([[User talk:Prisha|talk]]) 14:22, 15 March 2022 (GMT)
:Which notes? --[[User:Prisha|Prisha]] ([[User talk:Prisha|talk]]) 14:22, 15 March 2022 (GMT)


== Peers ==
== Peers ==
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—-[[Special:Contributions/213.205.240.205|213.205.240.205]] 14:12, 15 March 2022 (GMT)
—-[[Special:Contributions/213.205.240.205|213.205.240.205]] 14:12, 15 March 2022 (GMT)


:Received further feedback from the same person:
Received further feedback from the same person:


:* The peers cannot be publicly listed companies. When asked why they cannot be publicly listed companies, no reason was provided.
* The peers cannot be publicly listed companies.  
:* The peers need to offer the same offering (i.e. investment research, ideally free-to-access investment research).
* When asked why they cannot be publicly listed companies, no reason was provided.
:* Potential peers are Finbit (https://finbit.io) and Marketsmith (https://marketsmith.investors.com). I checked Finbit's website and it isn't really an investment research/information provider (it's a financial information gatherer and analyser), so it's not really a competitor of the Stockhub platform. Marketsmith, on the other hand, is an investment information/research provider and, therefore, is a peer of Stockhub.
* The peers need to offer the same offering (i.e. investment research, ideally free-to-access investment research).
:* On a side note, the person said that he thinks that even if a company provides free-to-access investment research that is materially better, in terms of quality, than Goldmans Sachs, an institutional investor, such as Blackrock, will not use it, because 1) it's free and 2) the investor probably already has a relationship with Goldmans Sachs. No reason why provided as to why he thinks that, and my view is that his thinking is illogical and, therefore, it's best to ignore his thinking.
* Potential peers are Finbit (https://finbit.io) and Marketsmith (https://marketsmith.investors.com).
* On a side note, the person said that he thinks that even if a company provides free-to-access investment research that is materially better, in terms of quality, than Goldmans Sachs, an institutional investor, such as Blackrock, will not use it, because 1) it's free and 2) the investor probably already has a relationship with Goldmans Sachs.


:{| class="wikitable"
--[[Special:Contributions/94.119.64.3|94.119.64.3]] 13:25, 23 March 2022 (GMT)
|+ Competition comparison
|-
! !! Stockhub!!  Marketsmith
|-
| colspan="5" style="text-align: center;" |How is the research produced?
|-
|Type of production method?||Crowdsourced information, decentralized production|| End-user-paid-for, insourced information, centralized production
|-
|Is the information on the platform sourced from a large, relatively open, and often rapidly evolving group of participants (i.e. crowdsourced information)?|| style="background: green; color: white;" |Yes||  style="background: red; color: white;" |No
|-
|Is the production of the research controlled by no single entity (i.e. decentralised production)?|| style="background: green; color: white;" |Yes|| style="background: red; color: white;" |No
|-
|Are contributions able to be made anonymously?|| style="background: green; color: white;" |Yes|| style="background: red; color: white;" |No
|-
| What is the estimated cost for the investment research company to produce research on a specific investment per year?|| style="background: green; color: white;" |Zero|| style="background: red; color: white;" |£5,000
|-
| colspan="5" style="text-align: center;" |What are the main features of the research for the end-user (i.e. Investors)?
|-
| What is the price of the research?|| style="background: green; color: white;" |Free|| style="background: red; color: white;" | £1,499 per year
|-
|How many investments are realistically able to be covered using this method?|| style="background: green; color: white;" | Unlimited||style="background: orange; color: white;" |Limited
|-
| What is the expected quality level of the research?|| style="background: green; color: white;" |High||  style="background: red; color: White;" |Low
|}
 
:--[[Special:Contributions/94.119.64.3|94.119.64.3]] 13:25, 23 March 2022 (GMT)


== Summary section ==
== Summary section ==
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How was the ROI calculated? That's an unusually high ROI. --[[User:Ferd|Ferd]] ([[User talk:Ferd|talk]]) 16:49, 23 March 2022 (GMT)
How was the ROI calculated? That's an unusually high ROI. --[[User:Ferd|Ferd]] ([[User talk:Ferd|talk]]) 16:49, 23 March 2022 (GMT)


:The answer to this question can be found in the Valuation section of the report. A note has now been added to the summary section of the report, detailing that (i.e. that the ROI calculation is found in the Valuation section of the report). --[[Special:Contributions/94.119.64.34|94.119.64.34]] 16:53, 23 March 2022 (GMT)
:The answer to this question can be found in the Valuation section of the report. A note has now been added, detailing that (i.e. that the ROI calculation is found in the Valuation section of the report). --[[Special:Contributions/94.119.64.34|94.119.64.34]] 16:53, 23 March 2022 (GMT)


== What is the mission of the company? ==
== What is the mission of the company? ==
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Stockhub isn't going to ''make'' money for people, it's helping them make better decisions as to which companies to invest in. --[[Special:Contributions/94.119.64.24|94.119.64.24]] 17:08, 23 March 2022 (GMT)
Stockhub isn't going to ''make'' money for people, it's helping them make better decisions as to which companies to invest in. --[[Special:Contributions/94.119.64.24|94.119.64.24]] 17:08, 23 March 2022 (GMT)


:I agree that ''make'' more money is a little strong; I think a softer/better description is this: to ''help'' make more money.  
:I agree that ''make'' more money is a little strong; I think a better description is this: to ''help'' make more money.  


:Also, the first version of Stockhub (i.e. the current version) is to help 'Active Investors' make better investment decisions, but the ''mission'' of the company is to help make more money for everyone. This section of the report (i.e. the 'What’s the mission of the company?' section) refers to the mission of the company.
:Also, there’s a distinction between Stockhub the company and Stockhub the product, and there's also a distinction between the different versions of the product (i.e. version 1, the final version, and everything in between). For the avoidance of doubt, this section of the report (i.e. what’s the mission of the company?) refers to the company, and not the product.
 
:For Stockhub the company, the mission is to help make more money for everyone; for the final version of the product, it's to help 'Analysts' (i.e. the product's target audience) to make more money; and for, the first version of the product, it's to help 'Analysts' to make better investment decisions.


:The table below highlights the key similarities and differences between the Stockhub company, the first version of the Stockhub product and the final version of the Stockhub product.
:The table below highlights the key similarities and differences between the Stockhub company, the first version of the Stockhub product and the final version of the Stockhub product.


:The report has now been updated accordingly.
{| class="wikitable"
 
:{| class="wikitable"
|+ Similarities and differences
|+ Similarities and differences
|-
|-
! !! The Stockhub company !! The final version of the Stockhub product !! The first version of the Stockhub product (i.e. the current version)
! !! Stockhub company !! Stockhub product (final version) !! Stockhub product (first version)
|-
|-
| What’s the goal?|| Help people to make more money || Help people to make more money || Help people to make better investment decisions
| What’s the goal of the company/product?|| Help make more money || Help make more money || Help make better investment decisions
|-
|-
| Who’s the target audience?|| Everyone || People who are willing and able to be actively involved in the process of deciding which investment(s) to invest in (i.e. Active Investors)|| People who are willing and able to be actively involved in the process of deciding which investment(s) to invest in (i.e. Active Investors)
| Who’s the target audience?|| Everyone || 'Analysts'|| 'Analysts'
|-
|-
| What proportion of the population does the target audience represent? || 100% || 10.4%|| 10.4%
| What proportion of the population does the audience represent? || 100% || 10.4%|| 10.4%
|}
|}


:--[[Special:Contributions/109.180.63.162|109.180.63.162]] 23:25, 23 March 2022 (GMT)
:--[[Special:Contributions/109.180.63.162|109.180.63.162]] 23:25, 23 March 2022 (GMT)
== Who’s the target audience of the product?  ==
"The audience is Investors. An investor is anyone who is willing and able to make an investment."
I feel the target audience is too broad, and needs to be narrower. I feel a better target audience is the following: people who are willing and able to be actively involved in the process of finding suitable investments (i.e. Active Investors). The report has now been updated to reflect that change.
--[[Special:Contributions/109.180.63.162|109.180.63.162]] 10:35, 24 March 2022 (GMT)
== Finimize valuation multiple ==
{| class="wikitable"
|+
!Year
!4
!5
!6
|-
!Period end date
!31/12/2020
!31/12/2021
!31/12/2022
|-
!Period duration (days)
!488
!365
!365
|-
!
!Historic
!Historic
!Historic
|-
! colspan="4" |Profit and loss
|-
|Revenue (£)
|1,392,200
|2,349,976
|3,896,226
|-
! colspan="4" |Balance sheet
|-
|Cash (£)
|
|1,910,058
|5,306,680
|-
|Debt (£)
|
|13,206,430
|3,717,599
|-
! colspan="4" |Other information
|-
|Adjusted revenue (£)
|1,044,150
|2,349,976
|3,896,226
|-
|Revenue growth rate (%)
|
|68.80%
|65.80%
|-
|Adjusted revenue growth rate (%)
|
|125.06%
|65.80%
|}
{| class="wikitable"
|+Acquisition multiple
!
!
!Comments
|-
|Acquisition price ($)
|99,000,000
|
|-
|FX rate
|0.82
|The exchange rate today (29th October 2023. It's better to use the fx rate of the date of the acquisition (i.e. 29th October 2021).
|-
|Acquisition price (£)
|81,180,000
|
|-
|2021 cash (£)
|1,910,058
|
|-
|2021 debt (£)
|13,206,430
|
|-
|2021 revenue (£)
|2,349,976
|The acquisition occurred on 29th October 2021.
|-
|Adjusted revenue growth rate (%)
|125.06%
|
|-
|Growth-adjusted EV/sales multiple (x)
|0.28
|
|}
{| class="wikitable"
|+
!Input
!Value
|-
|Current revenue (£)
|3,896,226
|-
|Revenue growth rate (%)
|65.80%
|-
|Growth-adjusted EV/sales multiple (x)
|0.19
|-
|Enterprise value (£)
|48,710,617
|-
|Current cash (£)
|5,306,680
|-
|Current debt (£)
|3,717,599
|-
|Market capitalisation (£)
|50,299,698
|-
|Acquisition price ($)
|99,000,000
|-
|FX rate
|0.82
|-
|Acquisition price (£)
|81,180,000
|-
|Overvalued/(undervalued)(%)
|61.39%
|}
[[Special:Contributions/95.149.241.208|95.149.241.208]] 15:33, 29 October 2023 (GMT)
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