Internet

What ever happened to Kazaa/Atrinsic?

April 19, 2012

We met with Atrin­sic $ATRN in 2011 after they attracted atten­tion by acquir­ing music prop­erty Kazaa late in 2010. Back then the shares were trad­ing in the $3-range ver­sus the cur­rent $0.08. At the time com­pany was work­ing on adding to the senior man­age­ment team and board at the same time they were hop­ing to secure […]

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QPSA! rebrands as WHAT?">Quepasa QPSA! rebrands as WHAT?

April 3, 2012

For rea­sons we can’t begin to grasp Quepasa held a con­fer­ence call and pre­sen­ta­tion for ana­lysts and investors today to “unveil” their rebrand­ing strat­egy. We admit that we are new to the story but from a dis­tance the old story at least made some sense. Span­ish speak­ing peo­ple are a big seg­ment of the world […]

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Checking The Knot

September 28, 2010

The Knot (NASDAQKNOT $8.76) had their ana­lyst day in NYC today. (For some rea­son the event is not being web­cast.) It’s a name that I only recently started look­ing at, but in the last year we’ve been very attracted to Internet-based busi­nesses that focus on mean­ing­ful niche mar­kets, like Ancestry.com, or stream­line traditional […]

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YE">Motorola Story Intact for YE

July 29, 2010

We pub­lished a Motorola posi­tion­ing doc­u­ment and com­pany analy­sis back in Feb­ru­ary (avail­able here) that out­lined how Motorola might estab­lish some improved momen­tum and gain a bet­ter mul­ti­ple in the mar­ket to drive the stock towards $20.  Even absent a bold strat­egy, the val­u­a­tion of the com­pany post-split is likely to be in the $11–12 […]

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Reasons to expect multiple compression on Google

February 26, 2010

Google is in the news again in a not-so-favorable light due to con­tin­ued scrutiny and actions in Europe. We have writ­ten about this a few times (see Related Posts) and we have acknowl­edged it more as a nui­sance so far. How­ever a recent post over at Tay­lor Frigon dis­cusses the shifts that occur for large industry […]

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QuinStreet is getting more interesting

February 23, 2010

We pub­lished a research report that pro­vided a pre­view of the Quin­Street (QNST-$13.14) IPO and noted that the main prob­lem we saw was the too-high fil­ing range. The mid-point at the time was $18 and didn’t leave much upside to our intrin­sic value (IV) esti­mate of $21. Sub­se­quently the invest­ment banks (Credit Suisse, Bank of America […]

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IPO Check">QuinStreet IPO Check

February 8, 2010

We pub­lished a short research note on Quin­Street on Fri­day based on our ini­tial inves­ti­ga­tion into the “ver­ti­cal” online direct mar­ket­ing space. The com­pany is on the road for an IPO man­aged by Credit Suisse, Bank of America/Merrill Lynch and JP Mor­gan. (Inter­est­ingly an old hand in the tech IPO space, Frank Quat­trone, is back […]

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