THG Ingenuity – Hidden Gem15 Mar 2022 20:40
By Andy Hayton – CEO & Founder at 11 Degrees
LinkedIn – 15/03/2022
Yesterday we launched not 1, not 2, but THREE new international websites through THG Ingenuity. .EU & .ES replacing those of our previous provider & all new .DE for the German market.
Fully translated, optimised per territory & with all payment methods the end consumer would expect to have at their disposal.
Now all sitting alongside .com, our global shop window, our intention is to launch a minimum of another 3 sites this calendar year & plug into THG’s global fulfilment footprint when needs arise.
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Is it a case of market not understanding what THG Ingenuity is all about, clearly they no experts and don't have all the info! Or maybe others know the ‘true value’ of THG Ingenuity technology, and this manipulation is ‘buyout theft’ as pointed out so many times!! Something is up!
As Softbank and Sofina (who must have done a deepdive and due diligence) have valued this completely differently only months ago, and NOTHING has changed! Lets see what happens to the Softbank option @ £5.96 in the next 3 months!
Spoken to a few friends who have 20-25 years’ experience each in the IT Transformation space, and they all acknowledge the ease and speed at which they are adopting new clients onto the THG Ingenuity platform is truly astounding, unheard of!
From Jan 2022 Update:
· FY 2021 revenue growth of 135.2% to £45.4m, with material new client wins in late Q4 contributing from Q1 2022 onwards, supporting our re-iteration of FY 2022 revenue guidance of £108.0m - £112.0m.
· Site number growth during the year was driven by enterprise-scale corporates across a diverse range of categories with over 75% of live sites in major international territories (UK, US, France, Germany, China, Japan and Australia).
So a turnover of £112m this year with major clients around the world, growing over 135% last year, estimated growth of 150% this year, with Gross margin of between 60-70%. And yet valued at ZERO. Can I buy the business for ZERO please, yep i thought not :)
Completely disjointed market. Opportunity if ever there was one.
Benjamin Graham: "In the short run, the market is a voting machine but in the long run it is a weighing machine."
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