1. Have you verified what the patent really covers, i.e. is it protecting the core advantage they have or can peers find a loophole or do something similar? One would need to understand what it is their patents protect in order to know if it really is as "groundbreaking" as they state. Because the way I see it, this is the real killer of the thesis. If it really is revolutionary, then this is not only a double but could be a multibagger if they are at $100M market cap and TAM is $17B and growing. Even if they only take 5%, that's a 10 bagger, 50% penetration and we have a 100 bagger.
2. Do you know anything about their history, what happened between IPO at 2017 and end of last year? They basically did a reverse 170 bagger.
Hi osten, I don't think it's 'groundbraking', but it confers some speed and security advantages. The way I came to understand the industry is that the top three are comparable in terms of performance, but the smaller players struggle to reach that level. Another element of why NetNut is able to take market share (and having grown from $3M in 2019 to $21M in 2023, there is no doubt they are gaining share) is their very efficient marketing team. IPPN only is the ground floor, next levels (the recently introduced SERP scraper and website unblocker, the AI scraper under development and then AI analytics) is what not only greatly expand the addressable market, it will also cement their position, increase customer retention and improve the value proposition for customers, and they've made a promising start on this road already.
Thanks for the writeup. A couple questions;
1. Have you verified what the patent really covers, i.e. is it protecting the core advantage they have or can peers find a loophole or do something similar? One would need to understand what it is their patents protect in order to know if it really is as "groundbreaking" as they state. Because the way I see it, this is the real killer of the thesis. If it really is revolutionary, then this is not only a double but could be a multibagger if they are at $100M market cap and TAM is $17B and growing. Even if they only take 5%, that's a 10 bagger, 50% penetration and we have a 100 bagger.
2. Do you know anything about their history, what happened between IPO at 2017 and end of last year? They basically did a reverse 170 bagger.
Thanks!
Hi osten, I don't think it's 'groundbraking', but it confers some speed and security advantages. The way I came to understand the industry is that the top three are comparable in terms of performance, but the smaller players struggle to reach that level. Another element of why NetNut is able to take market share (and having grown from $3M in 2019 to $21M in 2023, there is no doubt they are gaining share) is their very efficient marketing team. IPPN only is the ground floor, next levels (the recently introduced SERP scraper and website unblocker, the AI scraper under development and then AI analytics) is what not only greatly expand the addressable market, it will also cement their position, increase customer retention and improve the value proposition for customers, and they've made a promising start on this road already.