Web 18 - Comparable global valuations!

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Topic: Web 18 - Comparable global valuations!

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smartcat
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Topic: Web 18 - Comparable global valuations!
Posted: 11/Jun/2007 at 6:25pm

While every internet property under Web 18 can be compared to companies in the developed markets, I am not able to link Cricketnext.com to anything. For example -

Moneycontrol.com <--> MarketWatch.com [acquired for $770 million]

EasyMF.com <--> MorningStar.com [mCap of $2 billion]

Tech2.com <--> CNET.com [mCap of $1.4 billion]

CompareIndia.com<--> Kelkoo.com [acquired for $579 million]

IndiWo.com <--> iVillage.com [acquired for $600 million]

Yatra.com <--> Expedia.com [mCap of $7.5 billion]

JobStreet.com <--> Monster.com [mCap of $6 billion]

CricketNext.com <--> ???

Perhaps the Cricinfo.com acquisition is a not such a great loss for Web 18? I'm assuming Cricketnext.com probably wouldn't contribute too much to Web 18 valuation anyway.

Cricket is popular only in the Indian sub-continent. So when we are comparing CricketNext.com to companies in developed markets, we should be looking at websites of other sports like Baseball or basket ball.

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deveshkayal
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Posted: 11/Jun/2007 at 7:10pm

Thanks our own Net Expert...I think we should see such a valuation for Web 18 in 5-7 years! The only problem Web18 has just 15% stake in yatra.com.

"You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beat the guy with a 130 IQ. Rationality is essential"- Warren Buffett

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basant
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Posted: 11/Jun/2007 at 8:22pm

Smartcat: Is it not possible that because cricket was not such a followed sport in US (mother of all internet companies) we are missing something. Also soccer is a 2 hour affair but finally it is the revenues from a model that will bring in valuations. I think a cricket match is far more valuable in terms of revenue then a soap on Star TV and the same revenue model should play itself out in the internt property also.

Cricinfo ranks under 300 in alexa that is 3 times more valuable then moneycontrol.com. Am I missing something?

'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in

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smartcat
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Posted: 11/Jun/2007 at 11:47pm

Devesh, any idea what is the percentage holding of Web 18 in Jobstreet.com?

Cricinfo ranks under 300 in alexa that is 3 times more valuable then moneycontrol.com

How much was paid by ESPN for Cricinfo?

Since I rarely follow cricket, my views on Cricinfo/Cricketnext might be biased. But let me take a TED poll on these sites, since I assume there are a large number of cricket fans here. Then we'll see if these sites are really valuable to advertisers.

- When a cricket match is going on, do you keep the scorecard window open all the time? Or do you minimize the cricinfo window, keep working on your computer and occassionally check on the score by hitting REFRESH every 15 minutes?

- Do you check other parts of these websites - like news items, pre/post match updates, player stats, rankings etc? Or is it just the scoreboard?

- When there is no cricket match going on, do you ever visit cricinfo/cricketnext?

- Do these cricket websites have any community interaction (like moneycontrol messageboard)?

Long time back, we had something called 'SuperSelector'. That was a brilliant community activity concept. I wonder why ESPN stopped it.

Edited by smartcat - 11/Jun/2007 at 11:52pm

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kulman
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Posted: 11/Jun/2007 at 12:13pm

- When a cricket match is going on, do you keep the scorecard window open all the time? YES (BUT ONLY WHEN LIVE TV ISN'T ACCESSIBLE) Or do you minimize the cricinfo window, keep working on your computer and occassionally check on the score by hitting REFRESH every 15 minutes? OCCASIONALLY

- Do you check other parts of these websites - like news items, pre/post match updates, player stats, rankings etc? SOMETIMES BUT VERY RARELY Or is it just the scoreboard? YES

- When there is no cricket match going on, do you ever visit cricinfo/cricketnext? VERY RARELY

- Do these cricket websites have any community interaction (like moneycontrol messageboard)? NO IDEA

Life can only be understood backwards—but it must be lived forwards

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nav_1996
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Posted: 11/Jun/2007 at 12:16pm

When were these companies acquired, as internet property valuations has seen huge fluctuations in last 8 years.

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investor
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Posted: 11/Jun/2007 at 9:25am

You are comparing global leaders with amateurs - portals existing for a very long time with a huge following with new ones. Except for moneycontrol, no other portal from the Web18 group can even be compared with the market leaders, so the point of doing a valuation at this stage is really not that useful. We need to wait for a few years and see which of these can really succeed, and then we can look at comparisions.

Read my post on the "India could be the largest Internet market.Google" thread, how total-cricket.com collapsed within a year, inspite of having
funds much more than what cricketnext.com has.

The market is a place where people with money meet people with experience.
The people with experience get the money while people with money get experience!

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basant
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Posted: 11/Jun/2007 at 10:08am

I think they have 50% in JobStreet but will jobstreet succeed amongs the monstor and naukri? Your take.

About those cricketnext questions my answers are almost identical to what Kulmanji has said. Now let me add that because web18 owns cricket next I visit it in a few days and then keep comparing it with cricinfo but otherwiese I do not feel any urge to visit this website.

I think 90% of the netusers visit these portals for the scorecard when they are at work(office).

No idea what they paid for Cricinfo! Overall your logic makes tremendous sense but just for cricketnext I am a bit more hopeful!!!

'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in

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