Post by
summitking on Apr 28, 2021 11:38am
YE
Cannaccord just launched on a company called WeCommerce Holdings which is a consolidator of software and services businesses operating in the Shopify ecosystem. The company has made seven acquisitions so far for a total consideration of ~$150M, and its subsidiaries generate revenue through the sale of apps, themes and agency services related to online sales on Shopify. It's not the same as Venzee but is a comparable with recurring revenue. Based on comparables in the market place, Cannaccord has valued this company at 20.2x 2021 EV/Rev and 14.9x 2022 EV/Rev. I would argue VENZ has a much higher growth profile.
For YE we're not hoping for a lot (300 paying connectors was the goal) but are hoping for some good guidance into Q1 and 2021 specifically. VENZ's goal for 2021 is 2,080 mesh connectors. I'm hoping we can get some clarity on how that is coming along.