Private Markets, Angel and Secondary Investing, Sacra

Sacra

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Capital Markets

<ul><li>Our goal was to get our engineers out of the weeds and make Retool our force multiplier.</li><li>Retool provides dashboards, but you can also view a customer&#39;s configuration and then with one click, change their configurations or send emails very easily.</li><li>For Lithic, it’s been the last 10% of customization that’s delivered the majority of the value.</li></ul>

Our goal was to get our engineers out of the weeds and make Retool our force multiplier.Retool provides dashboards, but you can also view a customer&#39;s configuration and then with one click, change their configurations or send emails very easily.For Lithic, it’s been the last 10% of customization that’s delivered the majority of the value.

Ronnie Caspers, Product At Lithic, On Using Retool For Fintech Ops

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Equity Bottom-Up

<ul><li>The SET Index is expected to move sideways up, with the resistance at 1,640/1,650 points and the support at 1,629 points (10-day EMA)/1,619 points (25-day EMA).</li><li>We recommend trading buy on ASIAN, TTB and COM7.</li><li>The market should be poised for gains, as the negative news about the Fed's intention to expedite interest rate hikes to bring down inflation has been absorbed.</li></ul>

The SET Index is expected to move sideways up, with the resistance at 1,640/1,650 points and the support at 1,629 points (10-day EMA)/1,619 points (25-day EMA).We recommend trading buy on ASIAN, TTB and COM7.The market should be poised for gains, as the negative news about the Fed's intention to expedite interest rate hikes to bring down inflation has been absorbed.

Recommendation: Buy on Weakness, Sell on Strength

<ul><li>Klaviyo’s real innovation was the data structure that offered access to this data in a way where you could actually use it inside of the platform and not be a spreadsheet jockey.</li><li>With Klaviyo, you could say, “I want to send a campaign, but I only want to send it to people who have bought our hero product in the past and have bought nothing in the last 120 days.</li><li>CRV does a lot of ecommerce investing, they see a big part of the market, and have a really good perspective on it.</li></ul>

Klaviyo’s real innovation was the data structure that offered access to this data in a way where you could actually use it inside of the platform and not be a spreadsheet jockey.With Klaviyo, you could say, “I want to send a campaign, but I only want to send it to people who have bought our hero product in the past and have bought nothing in the last 120 days.CRV does a lot of ecommerce investing, they see a big part of the market, and have a really good perspective on it.

Brian Whalley, Co-Founder Of Wonderment, On Klaviyo's product-market Fit

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Algosun Global

<ul>
<li>Activist hedge fund Jana Partners bought ~2.66M <a href="https://www.smartkarma.com/entities/new-relic-inc" target="_blank" data-smartkarma-citation="entities:16283:1" rel="noopener">New Relic Inc (NEWR US)</a>  shares in 2Q22 and upped its stake in the tech company to 5.3%.</li>
<li>According to Reuters, New Relic may explore a potential sale following interest from private equity firms. Mr. Galligan, a partner of Jana Partners, joined the New Relic Board in June. </li>
<li>New Relic shares trade at ~4x EV/Rev on our FY23 revenue estimate, and we think Splunk may set a ceiling on the multiple at which New Relic may be acquired. </li>
</ul>


Activist hedge fund Jana Partners bought ~2.66M New Relic Inc (NEWR US)  shares in 2Q22 and upped its stake in the tech company to 5.3%.
According to Reuters, New Relic may explore a potential sale following interest from private equity firms. Mr. Galligan, a partner of Jana Partners, joined the New Relic Board in June. 
New Relic shares trade at ~4x EV/Rev on our FY23 revenue estimate, and we think Splunk may set a ceiling on the multiple at which New Relic may be acquired. 


Will Jana Partners Have Success In Pushing New Relic For A Sale?

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>Zendesk had a solid 2021 and saw a staggering 32% top-line growth in the last quarter with revenue of $375 million.</li><li>The company’s total annual revenue of $1.34 billion was also 30% above 2020 levels exceeding Wall Street expectations.</li><li>Customer accounts with annual recurring revenue of more than $250,000 now account for 38% of the company's total annual recurring revenue which is an excellent update.</li></ul>

Zendesk had a solid 2021 and saw a staggering 32% top-line growth in the last quarter with revenue of $375 million.The company’s total annual revenue of $1.34 billion was also 30% above 2020 levels exceeding Wall Street expectations.Customer accounts with annual recurring revenue of more than $250,000 now account for 38% of the company's total annual recurring revenue which is an excellent update.

United States

Zendesk, Inc. provides web-based help desk software with customer support platform. The Company offers applications that allow clients to manage incoming support requests from end customers from any internet connected computer. Zendesk serves customers in the United States.

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Zendesk Inc (ZEN US)

Ronnie Caspers, Product At Lithic, On Using Retool For Fintech Ops

Sacra interview with Ronnie Caspers, Product at Lithic, on the fintech ops use case for Retool.

Sacra

Recommendation: Buy on Weakness, Sell on Strength

The SET Index is expected to move sideways up, with the resistance at 1,640/1,650 points and the support at 1,629 points (10-day EMA)/1,619 points...

Krungthai XSpring

Brian Whalley, Co-Founder Of Wonderment, On Klaviyo's product-market Fit

Sacra interview with Brian Whalley, co-founder of Wonderment.

Sacra

Will Jana Partners Have Success In Pushing New Relic For A Sale?

Our analysis suggests that New Relic may be acquired with a premium of 30%-40% vs. current levels, and Jana Partners will succeed by pushing New...

Andrei Zakharov

Zendesk Inc.: Investment Thesis

Zendesk had a solid 2021 and saw a staggering 32% top-line growth in the last quarter with revenue of $375 million. The company’s total annual...

Baptista Research

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