RE:RE:RE:RE:RE:Started a PositionVery long reply/comment. Everyone thinks his company is going to b next Amazon & everyone should have 20+ years time to prove.
if there are few successful example of serial acquirer, there r plenty of failure. Cannibas industry in Canada is a living example. Everyone wanted to be top 5 canabbIs company in world & everyone buying everything under the Sun & in grow house. We now know what is going on there.
why this fascination with very large revenue? Let me tell u a real story of a pharmacist friend of mine. He was running a successful business of providing relief pharmacist to large pharmacy chains. He started thinking of starting his on pharmacy chain. By earning from his relief business & some saving he opened first pharmacy. It was not making profit. I asked him why he want to buy 2nd pharmacy when first is not making profit. He told, you see pharmacies are not priced at net earning but numbers of prescription filled (you may see the parallel). He bought 2nd & 3rd pharmacy by borrowing money from friends & family & also giving equity in pharmacy. Hoping more pharmacies will bring more synergies & volume advantage, put a target of 10 pharmacies. He was bankrupt by the time he got his 7th pharmacy