Softbank-Die ANALYSE des Blue Chips im Internetsektor von Asien (engl.) - 500 Beiträge pro Seite

[Celentano]

Softbank valuation post (quelle:www.ragingbull.com)

Hi Guys, I thought I would share my Motley Fool post on Softbank`s valuation.

http://boards.fool.com/Message.asp?id=1240745000376005&sort=…

>>>I thought it would be appropriate to address the Softbank versus CMGi issue.

From Softbank Finance:

http://www.sbfinance.co.jp/English/ir/kabuka_e.html

17 listed companies in which Softbank directly holds stakes (as opposed to through a VC subsidiary):

Unrealized gain: $24.95 Billion
Softbank`s current MCap $35.4 Billion (from Yahoo! Japan finance)

We haven`t yet accounted for the 300+ other affiliated companies, public as well as private.

For example, take Concentric Networks, which was swallowed up by NextLink for $2.5Bill. Softbank Ventures held approximately 10% of the company. Now, it`s a bit hazy how much of this deal accrues to Softbank Corp (this varies by the deal, from what I`ve seen, and Softbank doesn`t explictly disclose the workings of it`s VC operations), but it`s something to add to the pie.

Similar case for 50+ other public companies. Some prominent ones: Art Technology Group, eVentures NZ, Inktomi, Exodus, Multex, Verisign, Getty Images, Critical Path, Interliant, Backweb, Net2Phone, MarchFirst, Macromedia. Most of these are multi-Billion$ companies.

Add in the private firms .

Then add in the funds they`ve pumped into numerous ventures recently like Softbank Latin Ventures (with the World Bank), Softbank UK Ventures (with News Corp), Softbank Europe Ventures (Vivendi), NCB, etc, these add up to approximately $3 Billion in hard cash.

Small drops of water make a large ocean.

We also have to realize that Softbank is profitable. The core business is still making money. Most of the losses we`ve shown recently have been non-cash losses (handily offset by stock sales, for which we paid no capital gains tax).


Now let`s take CMGi. From this post:

http://boards.fool.com/Message.asp?id=1080158008379005

CMGi has 1.6 Bill in marketable securities, and it`s MCap is around $12 Billion. The core business is still burning money at the rate of $67 million/month.
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Some additions to my site, and classification

Added a few links, and classified the Softbank Kiretsu (atleast the partial list I have) into B2C, B2B, Infrastructure, and Incubators. Check it out:

http://209.1.224.187/softbanksupersite/

ps: 209.1.224.187 is one of the IP addresses for G e o c i t i e s, which becomes ######### over here.

ps2: Check out some of the great posts by Dieter on Softbank:

http://boards.fool.com/LastPosts.asp?limit=99&submit=Go&user…

Especially this one:

http://boards.fool.com/Message.asp?id=1240745000367000

Author: dieterh Number: of 818
Subject: ...and for a refreshingly different take on NCB

I almost overlooked this one. I guess it was hard to see with all those experts cautioning us about the risks involved.

Friday, June 23, 2000
(The Nihon Keizai Shimbun Friday morning edition)
{Regional banks and foreign-affiliated financial institutions who wish to hold a stake in NCB can expect to make large capital gains when the bank relists on the stock exchange, if they are offered the same bargain price as the Softbank group is guaranteed.}

It is refreshing to see that somebody in the media actually agrees that this could be a money maker.

Dieter
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[Celentano]

Softbank Ventures Korea invests US$5 million in i-Textile

Friday, July 14 2:12 PM SGT

Information Age Hong Kong

i-textile On-line Company, which operates a vertical business-to-business (B2B) textile and garment portal at www.i-textile.com, has received a US$5 million investment from Softbank Ventures Korea.

i-textile launched its online marketplace in December 1999 with GEM-listed Asian Information Resources (Holdings), one of the garment firm’s major investors, pouring US$1 million into the firm. AIR Holdings’ shares in i-textile will be diluted from the existing 31 percent after Softbank buys the US$5 million stake in the company.

The investment would be used to cover IT research and development, international expansion, human resources costs, and working capital for trades. Leveraging on Softbank’s networks and resources allows the garment portal to expand into the US and European markets in the third quarter this year.

“We plan to add services such as online electronic payment and online logistics management to enhance the sourcing and trading of textiles,” said Benjamin Mok, co-managing director of i-textile. “We will also explore opportunities and alliances with large, international garment and textile companies. In addition, we will consider pursuing an IT consulting business for the textile industry.”

i-textile formed several partnerships with notable industry players in key Asian textile countries. For example, the company teamed up with Taiwanese giants Formosa Chemicals & Fibre Corporation, Tah Tong Textile and Giantex.

But to bolster its status in the global arena, i-textile may want to follow TexWatch’s lead. TexWatch and a slew of major clothing manufacturers plan to form a textile and apparel e-marketplace aimed at the US$550 billion textile and apparel industry.

Consolidation is one way to gain a better foothold into the global market, and i-textile may consider joining the e-marketplace. This could put both firms in a better position to address the needs of the worldwide textile and apparel industry. But Mok said it was too early to make such a decision. “We’re not in a position to comment yet, since the news just came out. We have to understand what they are doing.”

TexWatch currently has 10,000 registered users, while i-textile over has 3,670 registered users. Despite the difference, Mok predicts that the company will break even in three years. So far, the i-textile site has transacted over US$600,000 since the beginning of this year, but the number could be as high as US$2 million, if you factor in confirmed and upcoming transactions.

SCHAUT EUCH DIE SEINTE VON i-textil AN!!!!!
www.i-textil.com