Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Capital Markets

<ul><li>Despite ongoing macroeconomic challenges, eBay generated better-than-expected results across all major financial and operational indicators including revenues and earnings. eBay's growth is particularly noticeable in its targeted categories, which had low single-digit year-over-year growth.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

Despite ongoing macroeconomic challenges, eBay generated better-than-expected results across all major financial and operational indicators including revenues and earnings. eBay's growth is particularly noticeable in its targeted categories, which had low single-digit year-over-year growth.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

eBay Inc.: An Interesting Set Of New Initiatives That Could Help Crush The Market – Key Drivers

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

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<a href="https://www.smartkarma.com/entities/carsales-com-ltd" target="_blank" data-smartkarma-citation="entities:701:1" rel="noopener">Carsales.Com Ltd (CAR AU)</a> aims to raise around US$330m (A$501m) via a renounceable entitlement offer. The deal is relatively large to digest at 28.2 days of three month ADV. </li>
<li>The use of proceeds will be to acquire 40% of Webmotors SA and strengthen its balance sheet. </li>
<li>In this note, we will talk about the deal dynamics and run the deal through our ECM framework.</li>
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Carsales.Com Ltd (CAR AU) aims to raise around US$330m (A$501m) via a renounceable entitlement offer. The deal is relatively large to digest at 28.2 days of three month ADV. 
The use of proceeds will be to acquire 40% of Webmotors SA and strengthen its balance sheet. 
In this note, we will talk about the deal dynamics and run the deal through our ECM framework.


Carsales Renounceable Entitlement Offer - Following up on a Decade-Old Acquisition

<ul><li>eBay delivered a solid set of results in the last quarter despite ongoing macro uncertainty and managed an all-around beat.</li><li>In the previous quarter, eBay acquired myFitment and in this quarter, it started making the technology of myFitment accessible to all buyers beginning with the pilot group of P&A sellers.</li><li>During the quarter, eBay scaled up several live events with select sellers.</li></ul>

eBay delivered a solid set of results in the last quarter despite ongoing macro uncertainty and managed an all-around beat.In the previous quarter, eBay acquired myFitment and in this quarter, it started making the technology of myFitment accessible to all buyers beginning with the pilot group of P&A sellers.During the quarter, eBay scaled up several live events with select sellers.

Crypto in Sports, Sporting Crypto

Sporting Crypto

Crypto in Sports

Breaking down the intersection between Sports and Crypto

Intersection Between Sports and Crypto

Equity Bottom-Up

<ul><li>In May 2022, I wrote about ebay, and how they were <em><strong>‘skating to where the puck is going’</strong></em> after they announced an exclusive deal to sell Ice Hockey legend Wayne Gretzky NFTs, at the time.</li><li>We haven’t seen much of (2) from Ebay so far, but it looks like they’re trying to push hard on the natively digital front.</li><li>One of the things that I also wrote about was how important a place Ebay became for the reselling of physical collectables during the Covid pandemic.</li></ul>

In May 2022, I wrote about ebay, and how they were ‘skating to where the puck is going’ after they announced an exclusive deal to sell Ice Hockey legend Wayne Gretzky NFTs, at the time.We haven’t seen much of (2) from Ebay so far, but it looks like they’re trying to push hard on the natively digital front.One of the things that I also wrote about was how important a place Ebay became for the reselling of physical collectables during the Covid pandemic.

eBay to Connect Fans With Athletes Using Sports NFTs

<ul><li>eBay had a solid third quarter and delivered an all-around beat.</li><li>The company also completed the tech-led re-imagination in the quarter and met its short-term commitments.</li><li>Additionally, eBay is attempting to improve the standard and volume of the supply of components and accessories.</li></ul>

eBay had a solid third quarter and delivered an all-around beat.The company also completed the tech-led re-imagination in the quarter and met its short-term commitments.Additionally, eBay is attempting to improve the standard and volume of the supply of components and accessories.

eBay Inc: Acquisition of TCGplayer & Other Drivers

United States

eBay Inc. operates an online trading community.  The Company's service is used by buyers and sellers for the exchange of products and services such as coins, collectibles, computers, memorabilia, stamps and toys, as well as concert and sporting tickets.  eBay also offers, through a subsidiary, secure online payment services.

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Ebay Inc (EBAY US)

eBay Inc.: An Interesting Set Of New Initiatives That Could Help Crush The Market – Key Drivers

Despite ongoing macroeconomic challenges, eBay generated better-than-expected results across all major financial and operational indicators...

Baptista Research

Carsales Renounceable Entitlement Offer - Following up on a Decade-Old Acquisition

Carsales.Com Ltd (CAR AU) aims to raise around US$330m (A$501m) via a renounceable entitlement offer. The deal is relatively large to digest at...

Ethan Aw

eBay Inc.: Major Drivers

eBay delivered a solid set of results in the last quarter despite ongoing macro uncertainty and managed an all-around beat. In the previous...

Baptista Research

eBay to Connect Fans With Athletes Using Sports NFTs

In May 2022, I wrote about ebay, and how they were ‘skating to where the puck is going’ after they announced an exclusive deal to sell Ice Hockey...

Sporting Crypto

eBay Inc: Acquisition of TCGplayer & Other Drivers

eBay had a solid third quarter and delivered an all-around beat. The company also completed the tech-led re-imagination in the quarter and met its...

Baptista Research

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