5 ms·
When they ask me how I knew it was a market top, I will tell them a Chrome extension sold for $4 billion.
by zelly 7y ago
When they ask me how I knew it was a market top, I will tell them a Chrome extension sold for $4 billion.
- bitxbit 7y agoI’ve been saying that since two years ago. This bull market has been one of the greatest artificial run in history. OR it could be that we’ve been conditioned to think this way based on the dotcom lores and permanent risk-aversion stemming from the financial crisis. I personally believe the incredible rise in standard of living across the globe is something people in the investment community do not talk about enough. And that is how I come to terms with the past decade.
- ellius 7y agoOr QE was essentially money printing that rippled through the shadow banking system in such a way that the price of certain assets (companies/stocks, real estate) are inflating indefinitely.
- treebornfrog 7y agoThis times a thousand. Im constantly torn between 'new highs for years' vs 'but we had 2 bubbles see how those went?'
- mwerty 7y agoIn the same boat. Each dollar I move from equity to cash I feel a little safer and a little more foolish.
- dangus 7y agoHoney's revenue is $100 million and growing by 100% a year. How is $4 billion overvalued for them? They have 17 million users and they aggregate shopping data of everything those users purchase online from any shopping website. There are certainly other economic indicators of a bubble but this is not one of them. A giant payment processing company like PayPal has a lot of reasons to "overpay" for a company like Honey, including the fact that they could have Honey prioritize retailers that use PayPal.
- chatmasta 7y agoMaybe the implication is that it’s a weak product because it depends on a third party platform to continue functioning. If chrome eliminated extensions tomorrow, or changed its TOS so honey would be in violation, what would honey do?
- r_singh 7y agoThat's actually why it makes sense for them to join PayPal which has a lot more influence.
- nugget 7y agoChrome could change their extension policies and put a severe damper on the business overnight. Consumers would have the option to use a different browser, but it's likely that many of the Honey users did not affirmatively register for an account and are using the extension passively. Enough of a relationship exists between Paypal and Google, and the Honey extension doesn't particularly bother Google to begin with, that this is probably an acceptable risk for them. But it was notable to me that such a healthy premium was paid for a business built almost entirely on a browser platform.
- donmcronald 7y agoThere’s zero value for a retailer when you’re applying coupon codes at checkout. I don’t see why retailers will continue to tolerate it.
- sjg007 7y agoNot true.. coupons get customers in the door.
- CharlesW 7y ago> When they ask me how I knew it was a market top, I will tell them a Chrome extension sold for $4 billion. A business sold for $4 billion. Saying "a Chrome extension sold for $4 billion" is like saying "a software engineer gets a $250K salary for typing".
- flylib 7y agoa Chrome extension that made between $250 and $300 million revenue in 2019...
- sdinsn 7y agoA Chrome extension that collected shopping data from 17+ million people