$500 considering Etoro
but what is impressive of Etoro are 2 things:
- $600m Annual Revenues
- $90m positive EBITDA
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Apparently etoro has 17 million users
18.7 million accounts but only 1.2 million are funded accounts according to slide 5 of their investor presentation
Would anyone have a guesstimate of Freetrade’s AUM?
Also wondering about this, to compare with HL, AJ Bell and now II looking to IPO in 2021 too.
Looks like the series B is officially being announced tomorrow. Any news on the share price?
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With £15m from sales from existing investors, is this likely to be FT team and potentially Draper?
Exciting news. I’m sure lots here would like to hear the new valuation, which is hopefully higher than last time.
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Freetrade are still on their website but looking at the user figures I wouldn’t count on this info being up to date
If the Techcrunch article (link below) and my math is correct than the new share price should be around £4.05
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Techcrunch says the post money valuation is $366 million. This would be GBP 265 million post money and 265-35 = GBP 230m pre money.
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If I remember correctly than the post money valuation at last year’s crowdfunding was GBP 150 million and £142 in pre money valuation.
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265m / 150m = a 76% increase in post money valuation
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230m /142m = 61% increase in pre money valuation
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At the 2020 crowdfunding round the share price was £2.50
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At an increase of 61% in pre money the new share price is estd. £4.05
Maybe the article or my numbers are incorrect. So treat with caution.
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I think it was £142m but don’t quote me on it
Right, I think you are correct. The £150 mil was post money. £142 is pre money. To calculate the share price the pre money valuation is needed.
I have updated the numbers above. Then it would be £4.05 price per share.
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I believe you would have to divide the current pre-money valuation with the old post-money to find the increase in share price, hence, 230/150 = 53.33% increase and a share price of 3.84
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You need to use the last rounds post money figure and this rounds pre money figure. 230/150.
It’s a 50% increase - so around £3.80 a share…assuming the number in that article is right.
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Are you sure? Presumably, the £2.50 share price was also calculated based on the pre money valuation?
I’m sure.
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Would you mind explaining a bit more?
This would be a pretty disappointing valuation outcome if true in my opinion. User numbers doubled between May and December 2020. Listed tech valuations went crazy over this time. The Freetrade product got materially better and subscription revenue started flowing with Plus. All of this would suggest at least a doubling in my opinion. Will have to wait and see when the Crowdcube email lands later this week for share price confirmation
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Share price doesn’t change when the money comes in; just that the company is then more valuable.
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