Outlook: Success to date undervalued by the market
migme (MIG) is a global social media company employing a freemium model to drive user engagement. It is focused on the emerging markets of Indonesia, the Philippines and India. At 31 December 2015 monthly active users (MAUs) totalled 32m (December 2014: 10m). This report contrasts MIG’s development against its peers and examines its market pricing compared with the market pricing of its peer group at similar stages of their development. We conclude that the current market pricing is out-of-step with the much higher prices that the market has paid for comparable companies at a similar stage in their life cycle.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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