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UPD - Updater Inc.

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Updater is a New York City based company that develops technology to improve the consumer relocation process in the U.S. Updater's web-based Mover Product helps relocating consumers organise and complete their moving-related logistics.

Movers can gain access to the Mover Product through an invitation from a real estate brokerage or agent, mortgage or title company, property manager, moving company, etc. Real estate companies partner with Updater to invite their clients, residents or customers to use the Updater Mover Product and to brand, customise and personalise the Mover Product experience for their clients.

It is anticipated that UPD will list on the ASX during December 2015.

http://www.updater.com
 
Popped up on a scan for me.

Any love for this thing?

I read the AGM and it's still losing money but the share price is going through the roof?
 
kid hustlr said:
Popped up on a scan for me.

Any love for this thing?

I read the AGM and it's still losing money but the share price is going through the roof?
Click to expand...

I think this is a story trade ... bit like MJP (Personal jetpack?!?!) or 1PG before it.

Fundamentally it'd probably never make a profit.
 
I feel like there's plenty of companies around which help you move home and update addresses/phones/internet etc.

Market share might be the key here?
 
I said no to the break-out as well. Not enough volume.

As skc mentioned, there's a lot of these companies that boom then bust as they fail to live up to their business vision.

upd0408.PNG
 
Looks like a niche market. How long before disruptors come to spoil their success.
 
skc said:
I think this is a story trade ... bit like MJP (Personal jetpack?!?!) or 1PG before it.

Fundamentally it'd probably never make a profit.
Click to expand...

Stock has gone crazy - my friend has plenty and is happy to hold.

Still maintain this view skc?
 
kid hustlr said:
Stock has gone crazy - my friend has plenty and is happy to hold.

Still maintain this view skc?
Click to expand...

I can see the story... but it will come down to execution and they have a lot of road to travel before they get to generate meaningful revenue.

Take a look at their 17/3/2017 announcement.... they cite a huge 93% uplift in the purchase of insurance products vs the control group. What they didn't mention is what is the actual conversion rate of either group. Another snippet in the study is that the study cohort were movers who did not currently have an insurance product. I think that is a sneaky way of conducting the study.

Some of the analysis are really quite full of bluesky. Here are a couple of bull cases on UPD

https://www.valuewalk.com/2017/08/updater/
(You will note they used the wrong number of shares here - they left out the 200m restricted share which makes the market cap 70% higher)

https://www.livewiremarkets.com/wires/what-could-updater-be-worth
(Read the comments in the second link as well. The last comment suggest a potential of $10-15B market cap. Make of that what you will!)

It is being push hard by a bunch of second tier brokers and small small cap managers, so they may be more bullish than others. UPD has proven that their app is of value to the movers. But how much of this data can be monetised and how many potential customers can be converted into actual customers?

I am softening my stance a little bit... from "Fundamentally it will probably never make a profit" to "It is unlikely to make enough profit to justify its valuation".
 
If you hold ASX shares in UPD it's vital that you know that UPD is delisting from the ASX and intends to become a private unlisted US company.

Read their letter to common stock holders that outlines the dates for delisting and their buy-back offer.
 
On October 10th, 2018, Updater Inc. (UPD) was removed from the ASX's Official List at the request of UPD in accordance with Listing Rule 17.2, and the timetable outlined within UPD's Notice of Special Meeting dated 21 August 2018 and subsequent Letter from the CEO dated 4 October 2018.
 
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