Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 25 years of experience in analyzing hundreds of companies, especially in Asia. Deep expertise in the following sectors:
- Technology (E-commerce, SaaS, Internet)
- Consumer 
- Special Situations/Deep Value Plays
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

Thoughts on Amazon –What Does Its Valuation Tells Us?

Netflix & Amazon Expand in Korea – Not a Coincidence

Okja: The Fight Between Netflix Vs. CJ CGV

Equity Capital Markets

<a href="https://www.smartkarma.com/entities/cloudflare" target="_blank" data-smartkarma-citation="entities:28263:1" rel="noopener">CloudFlare (NET US)</a> is expected to complete its IPO in the New York Stock Exchange in the next few weeks. Cloudflare provides websites protection from cyberattacks as well as services and software that speed up content delivery, and cloud-based networking.Prior to this IPO, the company has already raised nearly $332 million from numerous investors including <a href="https://crunchbase.com/organization/franklin-templeton-investments" target="_blank" data-type="organization" data-entity="franklin-templeton-investments" rel="noopener">Franklin Templeton Investments, </a> Fidelity, and <a href="https://crunchbase.com/organization/union-square-ventures" target="_blank" data-type="organization" data-entity="union-square-ventures" rel="noopener">Union Square Ventures.</a> In a private market valuation, Cloudflare was valued at $3.2 billion. Some media accounts have mentioned that Cloudflare could be valued at more than $5 billion in this IPO.The recent IPOs that are comparable to Cloudflare have done really well, especially <a href="https://www.smartkarma.com/entities/crowdstrike-holdings-inc" target="_blank" data-smartkarma-citation="entities:28117:1" rel="noopener">Crowdstrike Holdings Inc (CRWD US)</a> and Zscaler (ZS US), whose share prices are up 183% and 406%, respectively since their IPOs.Cloudflare generated revenue of $192.7 million in 2018, up 42.8% YoY. It also had revenue of $129.2 million in 1H19, up 48.3% YoY. From 2016 to 2018, the company's revenue increased by 50.8% CAGR.

CloudFlare (NET US) is expected to complete its IPO in the New York Stock Exchange in the next few weeks. Cloudflare provides websites protection from cyberattacks as well as services and software that speed up content delivery, and cloud-based networking.Prior to this IPO, the company has already raised nearly $332 million from numerous investors including Franklin Templeton Investments,  Fidelity, and Union Square Ventures. In a private market valuation, Cloudflare was valued at $3.2 billion. Some media accounts have mentioned that Cloudflare could be valued at more than $5 billion in this IPO.The recent IPOs that are comparable to Cloudflare have done really well, especially Crowdstrike Holdings Inc (CRWD US) and Zscaler (ZS US), whose share prices are up 183% and 406%, respectively since their IPOs.Cloudflare generated revenue of $192.7 million in 2018, up 42.8% YoY. It also had revenue of $129.2 million in 1H19, up 48.3% YoY. From 2016 to 2018, the company's revenue increased by 50.8% CAGR. 

Cloudflare

Cloudflare IPO Preview