Alibaba is slated to IPO in September on a rumored date of the 16. Ahead of the IPO, MKM Partners, which is not participating in the IPO nor initiating coverage, released a list of observations surround Alibaba’s business metrics.
“The larger upside was driven by a materially better monetization of mobile transactions. Mobile take-rate was 1.49 percent, compared to 0.98 percent in March and 0.58 percent a year ago," MKM writes.
Mobile gross merchandise value increased to 33 percent last quarter from 27 percent in Q1, adding fuel to the thesis that mobile is cannibalizing some desktop transaction volume.
MKM doesn’t believe this explains the “material delta,” or change in gross margin, as MKM forecasted an SBC nearly in line with Alibaba’s reported number.
MKM believes “the BABA total stake may be worth $26-$45 per share to YHOO.”
Shares of Yahoo are trading up as of Thursday mid-day roughly 0.50 percent to $38.38.
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