RE:RE:Marketwall and Intesa Sanpalos DealGo ahead and compare Marketwall to Revolut if you want but I would suggest it is comparing
apples to
fruit. Marketwall does stock trading. Revolut has a full banking licence.
Perhaps try to separate out Revolut's trading operations from the rest?
Or, try comparing Intesa to Revolut?
Either way would be more appropriate.
It's okay if you just want to vent... just try to keep it fact based.
If you have a source for Intesa having the right to purchase a
controlling interest, I would be interested in seeing it.
Otherwise, I think you may have some facts mixed up.
From ALY's 2015 YE MD&A - In January 2014, the Company established a subsidiary, Marketwall S.r.l. (formerly Stockwall S.r.l.) (“Marketwall”), based in Milan, Italy.
From March 3, 2016 News Release - The Company is pleased to announce significant progress in its previously announced multi-year licensing relationship with Grupo Intesa Sanpaolo (“Intesa Sanpaolo”), wherein MarketWall will be integrated with Intesa Sanpaolo's retail banking portals.
This was for a "minimum revenue stream of CAD$2 million annually (minimum CAD$10 mill over a 5 year period)" and some cash.
From April 5, 2016 News Release - The Company and Grupo Intesa Sanpaolo (“Intesa Sanpaolo”) have executed a definitive agreement pursuant to which Intesa Sanpaolo has agreed to exercise their option to acquire a 33% share in the Company’s mobile subsidiary Marketwall S.r.L (“MarketWall”).
ALY's 2016 YE MD&A - On October 11, 2016, the Company’s ownership was further diluted to 49% by Intesa Sanpaolo and a local partner.
The local partner later identified as being MarketWall employees.
If I am wrong with any of this, happy to discuss.
oilcan2012 wrote: It is useful to undersand Intesa's business history and that at one point, it was a struggling institution.
What is interesting is that Intesa has a ROFR (Right Of First Refusal) in a 2015 Aggm to purchase a controling interesting in MarketWall which expired in 2018. WHY DID THEY NOT EXERCISE?
Intesa typically has invested in the firms that have provided services to fulfill their digital strategy. Why have they not invested in Marketwall?
~9,000.000.00 Euros in revenue and they are proud of this? Its a joke! For example, Revolut was founded in 2015 and by 2022, 'Reached 26 million retail customers'. https://www.revolut.com/about/
The former guy of ALY and the current guy at Marketwall should be so proud! Likley less that 999 users and 9M in revenue. Revolute had ~920m pounds in rev and penertration profiles around the world. https://cdn.revolut.com/pdf/annualreport2022.pdf
Way to go guys! CEO's of the YEAR!