Kursverdoppelung bei Actua Corporation (vorm. Internet Capital)
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Internet Capital hält 31% an Freeborders.
StarCite offers free servicePhiladelphia Business Journal
CommentsStarCite Inc. has launched its own stimulus plan.
The Center City Philadelphia-based company is offering its Web-based meeting-management software free to new customers through June 30.
StarCite’s motives aren’t entirely altruistic.
Greg Dukat, the company’s CEO, said the economic downturn has led to an uptick in potential customers among corporations looking for ways to control the costs of the meetings.
The hope is that, by allowing them to try its products and services for a few months, StarCite can convert them from potential customers to actual ones.
“We thought that once they began to use our platform, began to use the technology, they would really fall in love with it, which has historically been the case,” Dukat said.
StarCite enables businesses to control their meeting costs by giving them one place to choose from a wide variety of hotels for their meetings. Its software also sets out to allow them to better manage all aspects of planning and holding meetings.
Dukat said the company’s potential customers include large corporations that, in addition to wanting to control how much they spend on meetings, must make sure the way they hold their meetings is in line with their industry’s rules and regulations.
“We felt like providing this platform would help them control issues around compliance,” he said.
Although he wouldn’t reveal StarCite’s revenue or income, Dukat said the company has been growing at more than 25 percent a year since it merged with OnVantage Inc. at the end of 2006 and has been profitable in the last couple of quarters.
The recession has slowed the company’s growth, but not stopped it, he said.
“We aren’t growing as fast as we were in the past, but we are growing,” he said.
Dukat said some of that growth is coming from existing customers that hadn’t used StarCite throughout their entire organization but now want to because they think it will enable them to reduce the amount they spend on meetings.
They’re saying “if there’s a way to save $1 of expense and this platform’s the way, we want every meeting to run through this platform,” he said.
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Re: Starcite is profitable 17-Apr-09 04:04 pm Most important sentence of the last posting
"Dukat said the company has been growing at more than 25 percent a year since it merged with OnVantage Inc. at the end of 2006 and has been profitable in the last couple of quarters." Rating :
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Re: Starcite is profitable 3 second(s) ago Internet Capital owns 34% of Starcite.
Language Firm's Deal Is Part of Modest Revival for the New-Issues MarketArticle
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By LYNN COWAN
The IPO market continued its winning streak, with Rosetta Stone Inc.'s initial public offering of stock gaining nearly 40% in its first day of trading.
The language-software company was the fourth deal in 2009 to rise on the first day of trading and the best-performing IPO in the U.S. in a year.
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MarketBeat: Decoding the Secrets of a Strong IPOThe Arlington, Va., company's stock closed at $25.12 a share on the New York Stock Exchange, up from the IPO price of $18. A total of 6.25 million shares were sold for a dollar more per share than the expected range of $15 to $17, which was set by underwriters Morgan Stanley and William Blair & Co.
The IPO market had been nearly extinguished during the credit crisis. But Rosetta's deal brings April's U.S. IPO count to three, the busiest month since July 2008, when a trio of deals also came to market.
Its gain follows three other debuts in 2009 that also rose on their first days of trading. Earlier this week, online college Bridgepoint Education Inc. priced below its expected range but gained 6% on its first day of trading. Earlier in the month, online videogames developer Changyou.com Ltd. priced at the high end of its range and rose 25% during its debut on the Nasdaq Stock Market. In February, Mead Johnson Nutrition Co. rose 10% in its debut.
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NYSE EuronextRosetta is the best-performing U.S. IPO since fertilizer company Intrepid Potash Inc. rose 58% on its debut in April 2008. It is also the first IPO to price above its range in nearly a year; the last was industrial pump and valve company Colfax Corp., which went public in May 2008.
Rosetta Stone warns that a weaker economy and slower airport and mall traffic could affect its results, but it still delivered a strong fourth quarter in 2008, generating a third of its annual revenue in the final months of the year.
Rosetta is more buffered from economic slumps than many other software firms, according to Morningstar equity analyst Brady Lemos. About 20% of its sales come from a stable base of institutional customers such as schools, corporations and government agencies, while its retail customers are likely to seek new language skills in a tough job market, he said.
In the longer term, Americans are beginning to see the need to speak more than one language, something that is the norm abroad, according to Carlos Lizarralde, co-founder of Fluenz, a competing brand of language software.
"The growth potential is enormous," said Mr. Lizarralde. "We see doctors in the U.S. who want to speak Spanish and executives who need to travel to China for work."
Rosetta is gearing up for more expansion both domestically and internationally; only 5% of its sales in 2008 were generated outside of the U.S.
"We have a real opportunity to grow globally," said Rosetta Chief Executive Tom P.H. Adams after the stock began trading.
Rosetta has gained brand visibility through an advertising blitz and its kiosks in airports and malls; its revenue rose by 52% and earnings increase fivefold in 2008 to $13.9 million.
Write to Lynn Cowan at lynn.cowan@dowjones.com
Internet Capital hält 32% von Metastorm.
Posted by: Spencer Ante on April 17
Hard to believe but there was actually a successful venture-backed IPO yesterday—the first in many months.
Rosetta Stone, a profitable and fast-growing maker of language software, went public. The shares priced at $18, above the offering range, and closed the first day up 39% at $25 under the ticker RST.
Rosetta Stone sold 6.25 million shares, raising $112.5 million. After the first day close, Rosetta was worth about $315 million.
Investors’ embrace of Rosetta Stone stands in contrast to the reception given Tuesday to college operator Bridgepoint Education Inc, which had to shave 30 percent off its estimated price to get its IPO to the market.
The two largest shareholders of Rosetta are ABS Capital Partners, a late stage growth equity firm; and Norwest Equity Partners, a large private equity and growth investment firm.
Before the offering, ABS owned 46% of Rosetta and Norwest owned 30%. In January 2006, to get the company off the ground, ABS ponied up $29 million and Norwest invested $19 million.
Those investments have paid off handsomely. ABS’s 46% stake is worth about $145 million, while Norwest’s stake is worth about $95 million. So they each made about five times their money in 3 years. Not too shabby in this environment.
- Spencer Ante also publishes the Creative Capital blog. Click here to see more.
In 2008, Rosetta Stone’s revenue rose 52 percent to $209.4 million from 2007, with net income of $13.9 million, according to a regulatory filing.
Allerdings haben die nur ein Drittel auf den Mark gebracht.
Selbst bei einer ähnlich niedrigen Bewertung wären die anteiligen Umsätze von Internet Capital mit 150 Millionen zu bewerten. Zusammen mit der Cash von 125 Millionen wären das 275 Millionen und bei den umlaufenden 33 Millionen Stücken immerhin noch 8 Dollar.
Es geht also nicht um den Gewinne der Beteiligungen, sondern um die Differenzen zwischen Einkaufs- und Verkaufspreisen. INzwischen hält man Beteiligungen wie ICGCommerce oder Metastorm schon so lange, dass die auch schon vor der Monetarisierung in die Gewinnzone gekommen sind.
Wer sich über die Gewinnsituation der wichtigsten Internet Capital-Beteiligung ICGCommerce informieren will, geht auf Seite 116 der folgenden Slide-Presentation:
http://www.internetcapital.com/pdf/presentations/...estpres030409.pdf
In den letzten fünf Monaten hat ICGCommerce den Umsatz um sage und schreibe 50% gesteigert. Wie sich das auf positiven Ergebnisse der vorstehenden Adresse auswirkt, lässt sich leichterklären, wenn man bedenkt, dass die überwiegenden Kosten von ICGCommerce Fixkosten sind. Einer Erlosesteigerung um ca. 30 Millionen stehen vermutlich nur Kostensteigerungen von 15 Millionen gegenüber, sodass das auf der Seite 116 dargestellte Ebitda von 8 auf ca. 23 Millionenn klettern wird.
Trotzdem bin ich der Meinung, dass man ICGCommerce vielleicht doch noch bis 2010 halten sollte oder nur bei einem sehr guten Preis an ein großes Unternehmen, die ihn diesen schnell wachsenden Markt dingen verkaufen sollte.
http://www.scdigest.com/assets/On_Target/...id=2132&ctype=content
Wendet man das auf ICGCommcere an, ist man bei 200 - 250 Millionen für ICGCommerce - und das obwohl ICGCommerce ein sehr viel größeres Wachstum hat und ein reiner Pure Play im Outsourcing von Procurement ist und nicht wie Ariba auch noch zustätzlich im wachstumsschwachen Bereiche "Programme" aufgestellt ist.
Next week: 0.5-times revenues = $6 6 second(s) ago By 0.5-times-revenues value of 170 millione proportional revenues in 2009 = 85 million. If we add this 85 million to the 125 million cash/securiteis = 210 million. When divided through the outstanding shares of 33 million = more than $6.
So ist bei allen Beteiligungsgesellschaften, ob sie als Investmentfonds oder als Aktiengesellschaften betrieben werden.
Seht Euch die Personalsuche bei ICGCommerce an, der bedeutendsten Beteiligung von Internet Capital.
Deutsche Bank: China überholt 2020 die USA!
16:52 23.04.09
Auf dem internationalen Parkett ist die Deutsche Bank für extreme Prognosen bekannt. Und berühmt dafür, dass sie meist auch noch Recht behält. Jüngstes Beispiel war das Kursziel für General Motors: NULL! Heute sorgt die Deutsche Bank erneut für weltweites Aufsehen: Ab 2020 wird China die USA als Weltnation nach Bruttoinlandsprodukt eingeholt haben.
Für 70 Prozent des globalen Wachstums werden die Emerging Markets verantwortlich sein, sagte der Deutsche Bank Chef-Volkswirt für China Mr. Jun Ma auf einer Konferenz im Millionärszentrum Hong Kong. Merken Sie sich, liebe Leser, diese Namen. In Zukunft werden die China-Volkswirte für den Raum Asien und vor allem China eine wachsende Bedeutung auf dem Weltmarkt erhalten. Und wieder, wieder, wieder stellt sich für uns dieselbe Frage: „Wieso investieren deutsche Anleger mehr Geld im EU-Raum und den USA?“ Eine verkehrte Welt.
China wird die gesamten asiatischen Emerging Markets stimulieren! Riesige Investitionen von den beinahe 2 BILLIONEN US Dollar sollen in die umliegenden Schwellenländer fließen. All diese Märkte werden schlussendlich – wie in meinem Buch „Investieren in Asien“ – zu einem gigantischen Binnenmarkt führen. Die gesamte Asien-Region würde (wird) dann eine Kraft haben, die Europa und die USA erblassen lässt.
Auf EMFIS.com und im Asien-Trends.de werden Sie regelmäßig über die aktuelle Entwicklung der asiatischen Märkte informiert. Die Euphorie, die in Asien selbst während der Weltdepression herrscht, können sich Anleger mit deutschem Wohnsitz kaum vorstellen! Deshalb ist EMFIS.com stolz und glücklich, seine Hauptredaktion in den Zentren Asiens zu haben. Denn der Anstieg im chinesischen Inlandsmarkt von rund 38 Prozent seit Jahresbeginn, gegenüber einem Verlust der US- und EU-Börsen von über fünf Prozent, spricht einfach Bände. HIER in Asien, liebe Anleger, finden die Freudentänze statt. Die Trauerfeier an den Börsen bleibt im Westen.
Ihr Rainer Hahn, Bangkok, 23.April 2009
http://www.internetcapital.com/pdf/presentations/...estpres030409.pdf
ICG Outlook
•Focus in 2009 will be on bottom line:
�� We will drive our companies to continued EBITDA
improvement
�� 5 of our 8 companies expect 2009 operating costs to be
lower than 2008, highlighting the cost reductions
completed in 2008 and leverage in the models
•We expect our companies will achieve solid revenue growth
•We will continue to take a disciplined, conservative approach
to capital deploymen
1 Nutzer wurde vom Verfasser von der Diskussion ausgeschlossen: tradeconto