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yes my comments regarding "running out of steam" meant the the " heat" and therefore premium for the current consolidation plays . real genuine double digit organic growth is very elusive in the more mature gtld market these days. it appears to me that MMX numbers are ahead of that in reg numbers but it is always very hard to take too seriously the hundreds of ks of new regs in the low priced TLDS like .vip and .work, with special first year incentives.. That said the other more regularly priced MMX tlds seem to be showing good growth... THE Private equity firm(s) that bought Donuts & .org,will have a plan to eke out growth organically and via price increases for renewals and for bolting on revenue and DUMS from further acquisitions (like MMX) , whereby they can strip all costs out.. there will be a period of time during which the execute their plans before prepping for their own exits by sell on or even IPO and thats the "period" that should lead to a tasty premium offer andit is necessary for MMX to keep their "story" in good shape while awaiting the approach. There is no need to "put the company up for sale", each and every one of the players know MMX is sitting their ripe for an approach so is just a matter of timing, IMHO. with not many juicy c.$20MM revenue targets out there andMMX ripe for integration, lets hope the PE players get their knickers straight in 2020 and make their move. on the plus side , as a public company any approaches , once serious ,would need to be disclosed i believe and i honestly expect that a little bidding war would break out at that point..So toby, IMHO nees to turn up a decent trading update and year end set of results to readjust the SP into double digits and then keep the wheels on pending an opening bid at a suitable premium that new level SP.. so get to10p+, get a bid in at 13/14p and see if that gets bid up from there to a 16/17p final exit price... with some stars aligning i could see something like that playing out....
Bakky, i really don't think it quite works like that, unless you want a low ball offer, that is about as attractive as a dose of anthrax, you don't put yourself up for sale, this is I think the wrong signal, best to work really hard to build up the annuity business with max revenue and bottom line profit, market the company and its success, exude confidence and pride in what we do, create a desirable brand and wait for the approaches .Having said all that i believe that is exactly what Toby has been doing intentionally. I am hopeful that 2020 will see interested parties coming forward. Hmmm... running out of steam, a profitable company won't run out of steam while being successful, interest in ntlds could wane if other options take over?? t time for our market is definitely finite, that's why companies evolve, hopefully MMX can if things change, I remain optimistic. Huckster
I’m hoping SJLs latter comments were in relation to the current appetite for consolidation/scale as evidenced by the numbers of sector deals in 2019; rather than the demise of gtlds. Now expectations have been reset I don’t see any reason why the gtld sales market cannot progress in the coming years, albeit without the stratospheric growth once predicted and let’s be honest priced in way too early in the cycle. SB
Good spot : I did all my selling in the summer/ autrumn for my UK ventures ..
I am as interested as anyone else to learn the gist of the update . I am hoping for good news and a jump in SP. will be unlikely to see anymore in single digits .
As have written multiple times I think MMX has gone from being viewed ( even at the time of the review , hence no sensible offers and when we did the icm deal ) as a a “risky bet “ to almost bizarrely emerging as “ best in show “ of the remaining portfolio tld operators . Fair credit should be given to micheal and Toby for that . They integrated icm well, migrated the back end to a lower cost option and then rigorously reduced costs to almost zero and managed to persuade Icann to allow them to introduce Adultblock in 2019 rather than address it in 2021 as I had expected . In truth ALL of those moves which add considerably to the bottom line are things I couldn’t / wouldn’t push through / attempt when I was running the business . Very commendable and almost ruthless in execution so hats off from me . As ever I have no real clue about the remaining 28 tlds but from what I can see there is some real growth ( which is better than almost all ) and I’m sure their rationalization and cost reduction in those other properties is equally focussed . Any bigger group looking to acquire im sure have mmx first now not last in their list ... question is whether any such bid comes before the market / sector runs out of steam . We should cross our fingers that the .org $1.3BN PE buyout goes through sooner rather than later as for sure Ethos / Arbry would be the obvious suitor ... roll on next week ...
https://www.bbc.co.uk/news/technology-51235675 The way this is going it must be getting expensive for Stuart to fight the government plus making the improvements /modifications they'll want. Let's hope there will be an institutional demand when/if he needs to raise funds.