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

<ul><li><a href="https://www.smartkarma.com/entities/26767" target="_blank" data-smartkarma-citation="entities:26767:1">Dropbox Inc (DBX US)</a> is getting ready for an IPO on the NASDAQ market sometime in March/April. This is one of the most anticipated IPOs globally in 2018. The purpose of our report is twofold: First is to analyze the intrinsic value of the company. Second is to find out companies in the Korean stock market that could benefit from the listing of Dropbox as a public company.  One of the main investors in Dropbox is Sequoia Capital, which is also a key investor of Smartkarma. </li><li>Dropbox generated revenue of $844.8 million and $1,106.8 million in 2016, and 2017, respectively. It also generated positive free cash flow of $137.4 million and $305.0 million in 2016 and 2017, respectively.  The fact that the company generates a lot of free cash flow with more than $1.1 billion in sales is a testament to the company's strong business model which could scale up significantly. </li><li>Four years ago in 2014, Dropbox was valued at a cool $10 billion. This would be the biggest IPO among the unicorns since the <a href="https://www.smartkarma.com/entities/24405" target="_blank" data-smartkarma-citation="entities:24405:1">Snap Inc (SNAP US)</a> IPO in 2017. </li></ul>

Dropbox Inc (DBX US) is getting ready for an IPO on the NASDAQ market sometime in March/April. This is one of the most anticipated IPOs globally in 2018. The purpose of our report is twofold: First is to analyze the intrinsic value of the company. Second is to find out companies in the Korean stock market that could benefit from the listing of Dropbox as a public company.  One of the main investors in Dropbox is Sequoia Capital, which is also a key investor of Smartkarma. Dropbox generated revenue of $844.8 million and $1,106.8 million in 2016, and 2017, respectively. It also generated positive free cash flow of $137.4 million and $305.0 million in 2016 and 2017, respectively.  The fact that the company generates a lot of free cash flow with more than $1.1 billion in sales is a testament to the company's strong business model which could scale up significantly. Four years ago in 2014, Dropbox was valued at a cool $10 billion. This would be the biggest IPO among the unicorns since the Snap Inc (SNAP US) IPO in 2017. 

Dropbox Inc

Dropbox IPO Preview (Part 1)