Internet & Direct Marketing Retail


I always look at economics of the business
A bird in the hand is worth 2 in the bush and the question is how sure are you there are 2 in the bush and how long you have to wait to get them out
1. How many birds are in the bush?
2. When you gonna get them out?
3. How sure are you?
If interest rates are 15% roughly you've got 2 birds out of bush in 5 years equal to bird in the hand but if interest rates are 3% and you can get 2 birds out in 20 years it still makes sense to give up the bird in the hand because it's all gets back to discounting an interest rate. Often you don't know not only how many birds in the bush but in the case of internet companies there were not any birds in the bush but they still take the bird that you give them from the hand
Loop through all the subindustries and try to understand how many birds are in the bush from the perspective of economics of the business

Revenue

200020012002200320042005200620072008200920102011201220132014201520162017201820192020
Display GDP grow per year to compare with Revenue Change
1. JD.com, Inc JD6,64211,45418,535181,042260,122362,332462,020576,888
2. Alibaba Group Holding Limited BABA3,1805,5588,4461,983101,143158,273250,266376,844509,711
3. Amazon.com, Inc AMZN2,7623,1223,9335,2646,9218,49010,71114,83519,16624,50934,20448,07761,09374,45288,988107,006135,987177,866232,887280,522
4. Vipshop Holdings Limited VIPS332276921,6973,77440,20356,59172,91284,52492,994
5. Trip.com Group Limited TCOM5.3212.092140651001642172914375566688901,18410,89819,22826,78030,96535,666
6. Pinduoduo Inc PDD5051,74413,12030,142
7. Booking Holdings Inc BKNG1,2351,1721,0048649149631,1231,3911,8852,3383,0854,3565,2616,7938,4429,22410,74312,68114,52715,066
8. Qurate Retail, Inc QRTEA1,9735,6876,5017,3267,8028,0798,30510,9829,61610,05411,25210,4999,98910,64710,40414,07013,458
9. Expedia Group, Inc EXPE2225912,3401,8432,1192,2382,6652,9372,9553,3483,4494,0304,7715,7636,6728,77410,06011,22312,067
10. eBay Inc EBAY4317491,2142,1653,2714,5525,9707,6728,5418,7279,15611,65214,07216,04717,9028,5928,9799,56710,74610,800
11. Yatra Online, Inc YTRA6,5288,3459,34512,2499,3597,259
12. Wayfair Inc W6019161,3192,2503,3804,7216,7799,127
13. Baozun Inc BZUN2512552,5983,3904,1495,3937,278
14. Secoo Holding Limited SECO6080.121,7432,5943,7405,3886,846
15. Chewy, Inc CHWY1209012,1043,5333,5334,8474,847
16. Dada Nexus Limited DADA1,2181,9223,100
17. MercadoLibre, Inc MELI2852851371732173013744735576528441,3981,4402,296
18. Groupon, Inc GRPN3131.612,3342,5743,1923,1203,1432,8442,6372,219
19. Cnova N.V CNVAF2,6263,9944,2041,7371,8562,0352,1742,195
20. Bluestem Group Inc BGRP1584801,7432,1011,8921,798
21. Uxin Limited UXIN8251,9513,3151,588
22. Stitch Fix, Inc SFIX7309771,2271,5781,712
23. Overstock.com, Inc OSTK2640922394958047887668348771,0901,0541,0991,3041,4971,6581,8001,7451,8221,459
24. Lands' End, Inc LE1,7261,5861,5631,5551,4201,3361,4071,4521,450
25. Cango Inc CANG4341,0521,0911,440
26. Grubhub Inc GRUB821372543624936831,0071,312
27. 1-800-FLOWERS.COM, Inc FLWS3854424975666046717829139197146686907217347561,1221,1731,1941,1521,2491,490
28. Ruhnn Holding Limited RUHN06.983.024465789481,0931,296
29. MOGU Inc MOGU1,1109731,074835
30. Farfetch Limited FTCH1422423866021,021
31. Etsy, Inc ETSY125196274365441604818
32. Leju Holdings Limited LEJU171335496576560363462693
33. Shutterstock, Inc SSTK83120170236328425494557623651
34. Revolve Group, Inc RVLV312400499601
35. Stamps.com Inc STMP15.2319.4316.332138628586858286102116128147214364469587572
36. Duluth Holdings Inc DLTH163232304376471568568616616
37. Despegar.com, Corp DESP422411524531525
38. MakeMyTrip Limited MMYT6984125197229255300336448675486512
39. Blue Apron Holdings, Inc APRN78341795881668455
40. Quotient Technology Inc QUOT112168222237275322387436
41. Points International Ltd PCOM10.3131758096123139202255296322348376401
42. Real Matters Inc RLLMF115171249303281323456
43. The RealReal, Inc REAL138207318
44. PetMed Express, Inc PETS325594108138162188219238232238228233229235249274283284
45. CarParts.com, Inc PRTS4160120161153176262327304255284291304303289281
46. LightInTheBox Holding Co., Ltd LITB116200292382324292320228244
47. Liquidity Services, Inc LQDT7689148199264236287327475506496397316270225227206
48. Goodfood Market Corp GDDFF0.192.819.8711610
49. Jumia Technologies AG JMIA93131160
50. Leaf Group Ltd LEAF170198253325381395172126113129155155
51. Fiverr International Ltd FVRR5276107
52. Gaia, Inc GAIA61991111029714221926325727827427520215516713.4617.25284454
53. Acorn International, Inc ATV17019726225128829336224318595482517.072537
54. Remark Holdings, Inc MARK00.350.462.266.664.990.52.051.8414.235971795.02
55. Monaker Group, Inc MKGI2.761.322.541.290.991.561.090.540.40.430.510.44
56. Moxian, Inc MOXC0.060.080.020.090.340.37
57. Starco Brands, Inc STCB00.020.051.50.430.010.130.24
58. ZoomAway Travel Inc ZMWYF8.046.889.4310.1000000.010.350.150.06
59. Rediff.com India Limited REDFY1.915.622517.259.4512.6318.729322518.842219.9415.6616.1215.3400000
60. Scientific Energy, Inc SCGY003.0612.32000000000
61. ICTV Brands Inc ICTV0.731.241.631.091.132.422.989.0915.375.93.93.12341322416.7931
62. Arcis Resources Corporation ARCS0000.940.460
63. LXRandCo, Inc GGBBF12.942.363.154.995.670
64. Balincan USA, Inc BCNN0002.4500
65. JRjr33, Inc JRJRQ0.936581117120
66. HealthWarehouse.com, Inc HEWA03.785.6910.3611.0810.236.137.0210.3814.8515.750
67. A1 Group, Inc AWON0.010.210.270.170
68. MediaBay, Inc MBAY4442463718.838.96
69. Eastern Asteria, Inc EATR0.050.280.230.580.360.2467.05222.571.74
70. Odimo Inc ODMO2842525218.980.0100000


Revenue Growth

200020012002200320042005200620072008200920102011201220132014201520162017201820192020
Display GDP growth per year to compare with Revenue Change
1. JD.com, Inc JD1.721.721.629.771.441.391.281.25
2. Alibaba Group Holding Limited BABA1.751.751.520.2351.011.561.581.511.35
3. Amazon.com, Inc AMZN1.131.131.261.341.311.231.261.391.291.281.41.411.271.221.21.21.271.311.311.2
4. Vipshop Holdings Limited VIPS6.976.973.052.452.2210.651.411.291.161.1
5. Trip.com Group Limited TCOM2.272.271.731.931.61.551.641.321.341.51.271.21.331.339.21.761.391.161.15
6. Pinduoduo Inc PDD3.453.457.522.3
7. Booking Holdings Inc BKNG0.950.950.860.861.061.051.171.241.361.241.321.411.211.291.241.091.161.181.151.04
8. Qurate Retail, Inc QRTEA2.882.881.141.131.061.041.031.320.881.051.120.930.951.070.981.350.96
9. Expedia Group, Inc EXPE1.651.652.663.960.791.151.061.191.11.011.131.031.171.181.211.161.311.151.121.08
10. eBay Inc EBAY1.741.741.621.781.511.391.311.291.111.021.051.271.211.141.120.481.051.071.121.01
11. Yatra Online, Inc YTRA1.281.281.121.310.760.78
12. Wayfair Inc W1.521.521.441.711.51.41.441.35
13. Baozun Inc BZUN1.021.0210.181.31.221.31.35
14. Secoo Holding Limited SECO0015003.821.491.441.441.27
15. Chewy, Inc CHWY7.527.522.341.6811.371
16. Dada Nexus Limited DADA1.581.581.61
17. MercadoLibre, Inc MELI1.841.841.641.611.261.251.391.241.261.181.171.31.661.031.6
18. Groupon, Inc GRPN0.010.011449.61.11.240.981.010.90.930.84
19. Cnova N.V CNVAF1.521.521.050.411.071.11.071.01
20. Bluestem Group Inc BGRP3.053.053.631.210.90.95
21. Uxin Limited UXIN2.372.371.70.48
22. Stitch Fix, Inc SFIX1.341.341.261.291.09
23. Overstock.com, Inc OSTK1.571.572.292.62.071.630.980.971.091.051.240.971.041.191.151.111.090.971.040.8
24. Lands' End, Inc LE0.920.920.9910.910.941.051.031
25. Cango Inc CANG2.422.421.041.32
26. Grubhub Inc GRUB1.671.671.851.431.361.381.471.3
27. 1-800-FLOWERS.COM, Inc FLWS1.151.151.121.141.071.111.171.171.010.780.941.031.041.021.031.481.051.020.971.081.19
28. Ruhnn Holding Limited RUHNINFINF0.43147.541.31.641.151.19
29. MOGU Inc MOGU0.880.881.10.78
30. Farfetch Limited FTCH1.71.71.591.561.69
31. Etsy, Inc ETSY1.561.561.41.331.211.371.36
32. Leju Holdings Limited LEJU1.961.961.481.160.970.651.271.5
33. Shutterstock, Inc SSTK1.451.451.411.391.391.31.161.131.121.04
34. Revolve Group, Inc RVLV1.281.281.251.21
35. Stamps.com Inc STMP1.281.280.841.31.81.621.371.010.990.971.041.191.141.111.151.451.71.291.250.97
36. Duluth Holdings Inc DLTH1.421.421.311.241.251.2111.081
37. Despegar.com, Corp DESP0.970.971.271.010.99
38. MakeMyTrip Limited MMYT1.221.221.491.581.161.121.171.121.331.510.721.05
39. Blue Apron Holdings, Inc APRN4.384.382.331.110.760.68
40. Quotient Technology Inc QUOT1.51.51.321.071.161.171.21.13
41. Points International Ltd PCOM3.013.012.411.071.21.281.131.451.261.161.091.081.081.07
42. Real Matters Inc RLLMF1.491.491.461.220.931.151.41
43. The RealReal, Inc REAL1.511.511.53
44. PetMed Express, Inc PETS1.721.721.711.151.271.181.161.171.090.971.030.961.020.981.021.061.11.041
45. CarParts.com, Inc PRTS1.471.472.011.340.951.151.491.250.930.841.111.031.0410.950.97
46. LightInTheBox Holding Co., Ltd LITB1.721.721.461.310.850.91.090.711.07
47. Liquidity Services, Inc LQDT1.181.181.651.341.330.91.211.141.451.060.980.80.80.850.831.010.91
48. Goodfood Market Corp GDDFF14.3714.377.073.562.290
49. Jumia Technologies AG JMIA1.41.41.23
50. Leaf Group Ltd LEAF1.171.171.271.281.171.040.440.730.91.141.21
51. Fiverr International Ltd FVRR1.451.451.42
52. Gaia, Inc GAIA1.631.631.130.920.951.471.541.20.981.080.9810.740.771.070.081.281.641.551.23
53. Acorn International, Inc ATV1.151.151.330.961.151.021.230.670.760.510.50.520.71.471.49
54. Remark Holdings, Inc MARKINFINF1.324.952.940.750.14.090.97.744.171.191.120.06
55. Monaker Group, Inc MKGI0.480.481.930.510.761.580.70.50.731.081.170.87
56. Moxian, Inc MOXC1.491.490.264.293.691.09
57. Starco Brands, Inc STCB882.0430.540.280.0215.411.9
58. ZoomAway Travel Inc ZMWYF0.860.861.371.070NANNANNANNANINF35.960.430.37
59. Rediff.com India Limited REDFY2.952.954.410.70.551.341.481.531.120.790.741.160.910.791.030.950NANNANNANNAN
60. Scientific Energy, Inc SCGYNANNANINF4.030NANNANNANNANNANNANNANNAN
61. ICTV Brands Inc ICTV1.711.711.310.671.042.141.233.051.690.380.660.797.391.790.790.750.71.87
62. Arcis Resources Corporation ARCSNANNANINF1190.130.490.01
63. LXRandCo, Inc GGBBF0.180.181.341.581.140
64. Balincan USA, Inc BCNNNANNANINF1783.530NAN
65. JRjr33, Inc JRJRQ69.5869.581.261.431.03
66. HealthWarehouse.com, Inc HEWAINFINF1.51.821.070.920.61.141.481.431.060
67. A1 Group, Inc AWON18181.320.610
68. MediaBay, Inc MBAY0.940.941.090.80.510.48
69. Eastern Asteria, Inc EATR5.525.520.822.580.610.6824.711.173.190.110.68
70. Odimo Inc ODMO1.521.521.250.990.3700NANNANNANNAN