Marketing

Email Delivery Networks: An emerging cloud investment.

May 3, 2011

Sending email has become a major industry problem thanks to both the massive growth of legitimate sending mixed with an enormous amount of SPAM.  Much as it is in online security, there is no one “silver bullet” to efficiently and effectively deliver large amounts of email. For small organizations the typical answer has been one [...]

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Getting back in touch with Constant Contact

December 2, 2010

A couple of years ago I was happily short Constant Contact in the mid-$20′s (Nasdaq: CTCT) and enjoyed some gains as investor enthusiasm immediately after the IPO wore off and the shares traded closer to my Intrinsic Value estimate (which was $14 at the time.) The core of the short argument in the past was [...]

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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 [...]

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