In today’s briefing:
- Kokusai Electric IPO – Weaker Demand Than We Expected
- Kokusai Electric IPO – Not Wholly Convinced, One Needs to Look past the Cycle
- New Huawei Tech-Powered Electric Car Launches With a Bang
- Rainforest Secures US$21.5M Funding, Reports 9x Growth in FY2022 Revenue
- Peak XV Leads $12m Round in Startup that Simplifies Visa Applications
- Jabil Inc.: How Strategic Focus on Key Tech Areas is Paving the Way for Future Success! – Major Drivers
- GoDaddy Inc.: How AI-Powered Innovations are Revolutionizing Their Customer Retention! – Major Drivers
- Motorola Solutions Inc.: Discover the Hidden Gems in the Products and SI Segment! – Major Drivers
- Oracle Corporation.: Unveiling The Strategies Behind The Booming Cloud Services & Other Offerings! – Major Drivers
- Aampe Attracts US$7.5M to Turn Apps’ Marketing Messaging into a Personalised Experience
Kokusai Electric IPO – Weaker Demand Than We Expected
- Kokusai Electric announced its pricing range today, setting it rather tightly at ¥1,830-1,840.
- This is slightly below the initial indicative price of ¥1,890 pointing to modest demand.
- That is a rather more tepid response than we initially expected given that this is the first sizable offering in some time.
Kokusai Electric IPO – Not Wholly Convinced, One Needs to Look past the Cycle
- KKR is looking to raise around US$730m via selling a stake in Kokusai Electric (6525 JP) (KE) in its Japan IPO.
- KE main business activities consist of the manufacturing, sales and maintenance service of semiconductor manufacturing equipment.
- In our previous notes we have looked at the company’s past performance and undertook a peer comparison. In this note, we talk about valuations.
New Huawei Tech-Powered Electric Car Launches With a Bang
- A new electric car powered by Huawei’s autonomous driving technology has hit the market with a bang, attracting tens of thousands of orders in less than a month and giving the telecom-equipment giant a confidence boost as it pushes further into China’s highly competitive auto market.
- As of Friday, more than 50,000 orders have been placed for the upgraded version of the Aito M7 SUV since it was launched on Sept. 12, said Richard Yu, chairman of Huawei’s smart car unit, in a social media post Saturday.
- For each order, customers paid a non-refundable deposit of 5,000 yuan ($695), according to information provided by Aito — a premium electric-vehicle (EV) brand co-developed by Huawei Technologies Co. Ltd. and automaker Seres Group Co. Ltd.
Rainforest Secures US$21.5M Funding, Reports 9x Growth in FY2022 Revenue
- Singapore-based e-commerce aggregator Rainforest has raised US$21.5 million in a convertible note round from existing investors, including Canopy Tropics, Monks Hill Ventures, Insignia Venture Partners, and January Capital.
- This brings the company’s total funding (debt and equity) to over US$100 million.
- Rainforest plans to use the funds to acquire new e-commerce brands, improve the platform capabilities to accelerate channel expansion, and for geographical expansion and product development.
Peak XV Leads $12m Round in Startup that Simplifies Visa Applications
- For many who don’t hold powerful passports, securing a travel visa often comes with cumbersome paperwork, prolonged waiting periods, and substantial costs, thus posing a significant barrier to international travel.
- One startup is bidding to solve this problem. Launched in 2021, Atlys allows users to apply for visas from anywhere in the world through its platform.
- Aside from unifying the process in one place, the platform helps predict visa processing time while reducing rejection rates.
Jabil Inc.: How Strategic Focus on Key Tech Areas is Paving the Way for Future Success! – Major Drivers
- Jabil Inc. delivered a mixed set of results in its most recent quarter with revenues falling short of Wall Street expectations but above-par earnings.
- The core margins increased by 40 basis points to 5%, accompanied by a 12% growth in earnings and a 13% growth in earnings per share.
- Remarkably, Jabil generated over $1 billion in free cash flows, highlighting the resilience of their business model in the face of market fluctuations.
GoDaddy Inc.: How AI-Powered Innovations are Revolutionizing Their Customer Retention! – Major Drivers
- In the second quarter, GoDaddy delivered on-par revenues and below-par earnings while continuing to offer diverse solutions to a global customer base.
- Their robust business health is evidenced by their acquisition of high-quality customers, strong retention rates, and improved attachment rates.
- Customers are increasingly bundling new solutions, reflecting the company’s innovation and driving higher monetization through attachment and pricing while ensuring strong retention rates.
Motorola Solutions Inc.: Discover the Hidden Gems in the Products and SI Segment! – Major Drivers
- Motorola Solutions, Inc. managed to surpass the revenue and earnings expectations of Wall Street, showcasing robust growth and financial stability.
- The company had a 12% surge in revenue, surpassing initial guidance, with double-digit growth evident across all segments, regions, and technologies.
- This growth was primarily driven by increased earnings and improved working capital, though offset to some extent by higher cash taxes.
Oracle Corporation.: Unveiling The Strategies Behind The Booming Cloud Services & Other Offerings! – Major Drivers
- Oracle managed to exceed the revenue expectations as well as the earnings expectations of Wall Street, with total revenue at $12.4 billion, an 8% increase, excluding Cerner.
- Total cloud services and license support revenue for the quarter amounted to $9.5 billion, up 12%, driven by strategic cloud applications, the Autonomous Database, and Gen2 Oracle Cloud Infrastructure (OCI).
- Infrastructure subscription revenues, including license support, reached $5.1 billion, up 14%, with Infrastructure Cloud services revenue growing by 64%.
Aampe Attracts US$7.5M to Turn Apps’ Marketing Messaging into a Personalised Experience
- Aampe, an AI-native user engagement platform for consumer mobile apps, has secured a US$7.5 million pre-Series A funding round led by Matrix Partners India and Peak XV Partners.
- This brings the US- and Singapore-based startup’s total funding raised to date to US$9.3 million.
- The new capital will support product development and fuel growth.
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