Инвестиции в mobile marketing, Алексей Тельнов iTech Capital, Mobile Beach...
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Investments Alexey Telnov
Transcript of Инвестиции в mobile marketing, Алексей Тельнов iTech Capital, Mobile Beach...
Investments Alexey Telnov
Public Internet Companies Poor LTM Performance
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Investors Get Nervous
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20% 25%
• Невыполнения планов по выручке • Замедление прироста пользователей • Снижение user engagement
• Снижение планов по выручке на год • Замедление прироста пользователей
AdTech is dead?
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Компания Дата IPO Raised (USD mln) EV/Rev IPO vs 15 23-‐Oct-‐2013 288,1 3,6 vs 2,6 20-‐Sept-‐2013 116,0 9,7 vs 0,8 06-‐Aug-‐2013 46,1 2,0 vs 0,6 28-‐Jun-‐2013 75 2,8 vs 0,3
22-‐Mar-‐2013 105 3,3 vs 1,7
29-‐Mar-‐2012 132,6 2,2 vs 0,6
Markeang Tech and AdTech 2014
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Компания Дата IPO Raised (USD mln) EV/Rev IPO vs 15 17-‐May-‐2013 80 13,6 vs 6,9 02-‐Apr-‐2014 102 6,1 vs 4,6 17-‐Jul-‐2014 44 4,0 vs 3,6 08-‐Oct-‐2014 125 11,1 vs 10,2
Exits in AdTech 2014
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Adverasing as % of all VC exits
Avg. years to Exit
Median Exit Size 82 7 5
90% % of US companies
among all AdTech exits
55% AdTech VC exits number annual growth
Правильный Mobile Adverasing Landscape :)
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Acquired
Data & Analyacs
IPO Unfunded
Data & Analyacs
Mobile Adverasing Landscape
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Acquired
Data & Analyacs
IPO Unfunded
Правильный VC’s Landscape :)
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Data & Analyacs
$325.1M
$109.9M
$631.3M $61.1M
$41.5M $161.6M
$745.8M
$176.9M
$51.6M
$112.1M $169.2M
VC’s Landscape
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Data & Analyacs
$325.1M
$109.9M
$631.3M $61.1M
$41.5M $161.6M
$745.8M
$176.9M
$51.6M
$112.1M $169.2M
Mobile Markeang VC Industry Overview
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$ MM
157
201 222
237 217
139
0
50
100
150
200
250
0
500
1 000
1 500
2 000
2 500
2009 2010 2011 2012 2013 2014
Funds Raised Deals Count
Инвестиции в AdTech сектор
$1,7 BN 90 + Invested in Mobile Markeang Funded Companies
Mobile Markeang Acquisiaons Landscape
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Data & Analyacs
$248M
$120M
$22.5M
$2.4Bn
$415M
$140M
$508M
$63M
$190M
n/a
$800M
3xM&A 2xM&A
Major Acquirers in Mobile Adverasing Space
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$1 150M $450M
$350M $100M
2014
EV/Rev = 2,5
$400M
2011 2009 2014
$50M 2012
EV/Rev = 15,0 EV/Rev = 13,3 N/A
EV/Rev = 4,8
2010
$8M EV/Rev = 5 EV/Rev = 6,6
$350M 2014
$750M
2014
EV/Rev = 3,1
$107,5M
2013
$225M EV/Rev = 3,6
$408M $332,5M
Mobile Markeang M&A’s 2014-‐15 & New Entrants
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$200M $58M
$103M
Telecom
App Developers Media Companies
Offline/M-‐Commerce
EV/Rev = 2,5
• Flurry’s analybcs are used by 170,000 developers globally
• Access to 1.4 billion mobile devices with Flurry to get strategic insights
• 20,000 adverbsers as customers
• MobPartner helps adverbsers acquire new high quality users, and provides publishers with the tools to monebze their global mobile traffic
$321M EV/Rev = 10,7
• New revenue opportunity: delivering relevant, targeted markebng messages and adverbsements
EV/Rev = 2,7
• Add significant value to Camden Market to interact with customers on-‐the-‐go
• Glispa’s growing global strength in mCommerce EV/Rev = 1,3
Adverasing Giants To Enter the Market Soon
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$35Bn $58Bn
$23Bn $15Bn
Ho�est AdTech & Mobile IPO Are Coming
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EV $1,2Bn
EV $1Bn EV $1Bn
Revenue 2014: $130M
Funds raised: $288,2M
EV $2Bn
Funds raised: $75M
Revenue 2014 : $140M
• The company has taken much venture funding
• The company hired a new CFO, which is frequently a pre-‐IPO move.
• It reportedly hired banks to advise it on an IPO valuing the company at $1 bn in February
• It hired a CFO with IPO experience in late 2011. Funds raised: $63M
Revenue 2014 : $140M
Revenue 2014 : $372M
• InMobi is now one of the largest mobile ad businesses that has not gone public.
Funds raised: $220M
• The company is too big to be acquired, which is why it is the subject of constant IPO
• It's 2x Rubicon Project (IPO 2014) numbers.
