Quality-first, Business-perspective, Long-term, Urbem (HK) Limited

Urbem Capital

Lifetime collector of the world's great businesses.

Quality-first, Business-perspective, Long-term

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Quality-first, Business-perspective Strategy

Urbem (HK) Limited

Thematic (Sector/Industry)

<ul>
<li>Kakaku.com returned about 28x with dividends from its first trading day in 2003 to this year’s takeover offers, roughly 15.5% a year, against 8.4% for TOPIX with dividends.</li>
<li>Early on it grew into a debut priced at 267x earnings, shut its own flagship site after a 2005 breach and launched Tabelog with two staff.</li>
<li>Later, Tabelog turned reviews into JPY 20bn of reservation fees, return on equity averaged 36% for a decade, and two bidding groups competed for it.</li>
</ul>


Kakaku.com returned about 28x with dividends from its first trading day in 2003 to this year’s takeover offers, roughly 15.5% a year, against 8.4% for TOPIX with dividends.
Early on it grew into a debut priced at 267x earnings, shut its own flagship site after a 2005 breach and launched Tabelog with two staff.
Later, Tabelog turned reviews into JPY 20bn of reservation fees, return on equity averaged 36% for a decade, and two bidding groups competed for it.


Kakaku.com’s 23 Listed Years: What It Got Right, From a Frothy IPO to a Bidding War