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Charles Moscoe

 
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  • Yahoo acquiring BrightRoll for $640M in cash [View news story]
    I wonder if this $100M is tech fee revenue (like what RUBI, SZMK, MRIN report for instance) or managed revenue like what TRMR and YUME are reporting. I've heard the term "net revenue" be described as different things. For YUME at least its "net revenue" would be closer to like $80M for 2014. I guess you can just multiply the gross margin times the managed revenue to get that number. Its a confusing space and everybody is reporting the same thing different ways so I get your point here. Since Brightroll has never been public we don't know what they are calling "net revenue" for sure yet (maybe never will). Either way though, valuation is rich when compared to the public valuations.
    Nov 11, 2014. 06:37 PM | 1 Like Like |Link to Comment
  • Tremor, YuMe up AH following Yahoo/BrightRoll deal [View news story]
    Eric... Tremor moved up today on the Jefferies upgrade to "buy" with $6 price target. Analyst moved FY2015 estimates to small net profit and illustrated valuation gap between it and YuMe, noting that it is trading at half the valuation for no significant reason.

    The earnings were met with a muted reaction. In fact it traded down on low volume for most of the day Friday after releasing them on Thursday, only to close up by a few cents. So this definitely was not a move related to the earnings as that has passed.
    Nov 11, 2014. 06:19 PM | Likes Like |Link to Comment
  • Tremor Video +13.7% on Jefferies upgrade [View news story]
    Tremor moved up today on a Jefferies upgrade to "buy". They reported last Thursday and had a muted response.
    Nov 11, 2014. 06:17 PM | Likes Like |Link to Comment
  • Yahoo acquiring BrightRoll for $640M in cash [View news story]
    "Bottom line: Yahoo's losing users, which makes its ad platform irrelevant as Google dominates the space."

    ---> Yahoo has never had success selling outside inventory. Sort of like Facebook's attempts with Atlas. Big publishers are rebuffing. So you are right as the Yahoo core traffic inherently slows, the relevance of Brightroll will deteriorate. I agree with you about Yahoo Mail. Seems like Tumblr is catching on though and I personally like the home page, but thats just me...
    Nov 11, 2014. 06:11 PM | 1 Like Like |Link to Comment
  • Yahoo acquiring BrightRoll for $640M in cash [View news story]
    6.5x sales is much richer than the public company valuations. Profitable being the key here, something that none of the public video ad networks are yet (ie. Tremor and YuMe). In terms of revenues though, $100M is peanuts as both Tremor and YuMe after guiding down FY2014 still are 60-70% higher in sales.
    Nov 11, 2014. 05:59 PM | 2 Likes Like |Link to Comment
  • Sizmek: The Profitable Ad Tech Company That Nobody Is Talking About [View article]
    You have no idea what you are talking about as Brightroll and Sizmek are entirely different companies. Brightroll is a video ad network that competes with companies like Tremor Video and YuMe among others. Sizmek's competitor is Doubleclick, Conversant and Sapient to some extent. Both Conversant and Sapient have been recently bought for rich valuations and Doubleclick was bought by Google a few years ago. Sizmek is an open ad management stack and its tech is far superior to Brightroll's but not even in the realm of competition.
    Nov 11, 2014. 05:55 PM | Likes Like |Link to Comment
  • Books-A-Million: Forgotten And Deeply Undervalued [View article]
    Not surprisingly I've looked at this one before. It is an interesting story. Question is why don't they just shut down the book business? The company would likely be worth double overnight.
    Nov 11, 2014. 05:52 PM | 2 Likes Like |Link to Comment
  • Watch Rocket Fuel Crash-Land On Wednesday's Earnings Report [View article]
    Good article. I have experience working with Rocket Fuel. The company is a black box solution which just arbitrages traffic at an extraordinarily high take rate which is unsustainable. I don't consider it investible long term. In the space I like Sizmek which earns a small tech fee on order execution. In line with your theme, companies like Sizmek help cut out the middle man. Too expensive for advertisers to pay two different middlemen, being the agency and also the media trading Rocket Fuel. The principle shareholder has a PPS cost of about $1. So you are right that he will likely scurry away as fast as he can from this one when it crashes.
    Nov 11, 2014. 12:52 PM | Likes Like |Link to Comment
  • Turtle Beach co-founders sell 371.5K shares [View news story]
    Smart money always sells at the right time. Will be a $3-$4 stock this time tomorrow.
    Nov 10, 2014. 05:05 PM | Likes Like |Link to Comment
  • No Consolidation Needed For YuMe - It Could Be Worth $1 Billion In A Few Years [View article]
    Looks like an ad tech bottom is in.
    Nov 10, 2014. 12:42 AM | Likes Like |Link to Comment
  • Ulta Salon: Possible 34% Upside [View article]
    "Charles, you know the market spends most of its time going up so it can go on making new highs for long periods of time and has done so."

    I stopped reading here.

    Buy ULTA and get some TSLA and GPRO while you are at it. Good luck. Lets talk in a year or two.
    Nov 7, 2014. 12:19 AM | Likes Like |Link to Comment
  • ReachLocal Is A Compelling Turnaround Story In The Works [View article]
    Good analysis. You seem to be right on the money about this one and again I stand corrected here.
    Nov 6, 2014. 08:18 PM | Likes Like |Link to Comment
  • Jamba announces new $25B buyback plan [View news story]
    Edit title... Says $25B (billion)
    Nov 4, 2014. 04:07 PM | 1 Like Like |Link to Comment
  • Sizmek: The Profitable Ad Tech Company That Nobody Is Talking About [View article]
    Company reports on November 13 after the bell.
    Oct 31, 2014. 09:46 AM | Likes Like |Link to Comment
  • Brightcove Is A Pure Play On The Rapid Secular Growth Of Online Video [View article]
    My haters are awfully quiet now.
    Oct 31, 2014. 09:44 AM | Likes Like |Link to Comment
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