In-depth research on Asian stocks
*Please see our disclaimers at the bottom of the page and our full disclaimer here. By using our website, you acknowledge you have read our disclaimers and agree to our terms of use. Hey there! Welcome to DJY Research. Every month, we produce an extensive research report on a global company. So far, we’ve covered companies …
Hi everyone - this is Part 3 of our Coupang writeup. In this part, we cover our revenue build and valuation, as well as share what we consider to be risks. If you haven’t already, you can read Part 1 here and Part 2 here. *Please see our disclaimers at the bottom of the page …
Hi everyone - this is Part 2 of our Coupang writeup. In this part, we cover Coupang’s flywheel as well as their many businesses and new initiatives. If you haven’t already, you can read Part 1 here. *Please see our disclaimers at the bottom of the page and our full disclaimer here. By using our website, …
Hi everyone, this post is a breakdown of Alibaba’s 3Q21 results. It was originally shared on Twitter here. For convenience sake, we will be sharing the tweetstorm as a single article for easier reading. If you enjoyed this recap and would like to have access to all of our research, models, and supplementary material, subscribe …
What could you do with 4 square meters of retail space? Try creating over $100 billion dollars of market value with one of the world's largest retailers. The path would not be easy though, and would require risking it all - multiple times. With just a 4sqm stall in an offbeat Chinese market, after 5 …
*Please see our disclaimers at the bottom of the page and our full disclaimer here. By using our website, you acknowledge you have read our disclaimers and agree to our terms of use. Hey there! Welcome to DJY Research. Every month, we produce an extensive research report on a global company. So far, we’ve covered companies …
A tech conglomerate with a leading industry position in no fewer than 8 industries with revenues growing ~20% and trading at 24x earnings excl. investments, Tencent is the company you would have tried to create if you had a crystal ball in China in 1998. But Tencent didn’t need a crystal ball because they had …
Society benefits the most when entrepreneurs focus on solving problems before monetizing the solution. But solving a problem doesn’t equate to creating a great business. GRAB has unlocked tremendous consumer value in ride-hail, but their decade-long slog in the most difficult sector in consumer interment has them squeezing out just 6 dimes of revenue out of …
*Note that we refer to some of our other pieces that are behind the Members paywall throughout the piece. We do this for two reasons 1) brevity, 2) but also because we use our free pieces as an acquisition tool to convince readers to sign up for our $29 subscription (sneaky, right?) which entitles you …
Some say you can pay any price for a great company, but was Coupang at $100bn too high? Well, one things for certain: You wouldn't have paid that for what it started out as. It started out as a money losing Groupon clone that stemmed losses by pivoting to an eBay model, but failed to …