Functionx Inc fka FNCX

[patentminer2013]

Investor Conference Notes

I listened to the investor conference from earlier in the week. The audio is horrible at times but around the 8 minute mark it gets better. Here are some of the real interesting highlights.

On slide 24 there are industry comps and company valuations.

After the Bumpclick deal goes through Function will have 27 million unique visitors. Two of the companies in the chart are Refinery 29 with 27 million uniques and Buzz Feed with 80 million uniques.

Current Valuations
Refinery 29 is $500 million
Buzz Feed $1.5 billion

With 30 million shares outstanding if we were valued at the same as Refinery 29 that gives us a $16 stock. But it gets better. He said that by the end of this 3rd quarter he expects to be larger than Buzz Feed. He did say they could have over 50 million shares out by then but that would still be 30/shares at the Buzz Feed $1.5 billion valuation.

There are also some charts showing revenue growth over the last few months and it looks very good.

One final note. At one point he mentions the stock price. He basically said if they weren't in the quiet period he would be buying. From a billionaire who runs a company with 12 million shares in the float that's exciting. Plus he just converted all that debt at 2.34 per share which tells you what he thinks the companies worth.