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re: Voyager - VYGVF Due Diligence

Posted on 4/6/21 at 4:27 pm to
Posted by slackster
Houston
Member since Mar 2009
85446 posts
Posted on 4/6/21 at 4:27 pm to
quote:

Let's compare revenues:
Coinbase is projected to make $2.3 billion in revenue in 2021


Coinbase revenue for Q1 was $1.8B. Just announced today. That’s $7.2B annualized. $100B/$7.2B = 13.9x revenues.
quote:

whereas Voyager is trading at 15 x revenue


Voyager is now trading at 16.25x revenues. It’s more expensive than the valuation you’ve been assigning to Coinbase. Now what?
Posted by tenderfoot tigah
Red Stick
Member since Sep 2004
10445 posts
Posted on 4/6/21 at 10:15 pm to
Voyager added 300k new users in March. Are you under the impression they didn't also have record growth?

Why are you using old data for Voyager but using March's data released today for Coinbase?
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