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SPH buys sgCarMart for S$60 million

Yamapi

By Yamapi,
in Investment & Financial Matters

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Mllcg

Mllcg

3rd Gear

i am sure sph woundn't do that

you see hwz, that place much more hiong than mcf, sph also dont bother to can them

 

you see the problem with internet things is that it is very fluid

if sph go and can hwz, the people will simply go to other more hiong forums to play, eg sammyboy

then it becomes tough to can these guys in because you simply dont have the resources to go about buying each and every other forums just to can people

 

whether it is worth paying $60M for the MCF Group is subjective

http://appraisemywebsite.com/www.mycarforum.com

 

buy each and every forum

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Viceroymenthol

Viceroymenthol

6th Gear
(edited)

Ya, its three guys. From wiki :

 

sgCarMart is an online automotive website in Singapore that was incorporated in 2004. The website was started by Tan Jing Lun, Vincent Tan and Henry Seah. when they found that existing car classifieds websites provided limited information to users. Since then, it has won for itself three prestigious awards

Edited by Viceroymenthol
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Viceroymenthol

Viceroymenthol

6th Gear
(edited)

 

 

Wrong lah, SGX just announced 6 shareholders - 5 guys and one VC.

 

Let's assume the VC takes 50%, which I think is quite little already, the other 5 guys share $30m and each gets $6m.

 

They spent the last 10 years working hard and assuming they received minimal salaries for 10 years: it is $600k a year.

 

Still ok lah. Good enough to compensate for hair loss and high blood pressure for last 10 years.

 

This $600k a year is also to compensate for future loss of earnings from the business.

 

Also to compensate for career opportunity costs of these guys for the last 10 years.

Edited by Viceroymenthol
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Viceroymenthol

Viceroymenthol

6th Gear

even if got 1 mil payout each. if u were them, u will hiam meh?

not say SGcarmart sell 2nd hand cars for entire SEA [laugh]

 

These guys vomit blood sweat and tears for the last 10 years building the website.

 

If receive $1m only i think will cry....

 

Their annual turnover already got how much? Anyone got an estimate? I think more than $5m at least.

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Mllcg

Mllcg

3rd Gear

Wrong lah, SGX just announced 6 shareholders - 5 guys and one VC.

 

Let's assume the VC takes 50%, which I think is quite little already, the other 5 guys share $30m and each gets $6m.

 

They spent the last 10 years working hard and assuming they received minimal salaries for 10 years: it is $600k a year.

 

Still ok lah. Good enough to compensate for hair loss and high blood pressure for last 10 years.

 

This $600k a year is also to compensate for future loss of earnings from the business.

 

6m can buy a 2nd property and rent out for passive income

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Jman888

Jman888

Moderator

These guys vomit blood sweat and tears for the last 10 years building the website.

 

If receive $1m only i think will cry....

 

Their annual turnover already got how much? Anyone got an estimate? I think more than $5m at least.

 

 

when Yahoo! bought Summly, do you think LKS get most of the proceed since he funded the boy?

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Viceroymenthol

Viceroymenthol

6th Gear

when Yahoo! bought Summly, do you think LKS get most of the proceed since he funded the boy?

 

LKS the richest man in Asia, i don't think he needs the money.

 

But most small VC's are in it for the money lah, otherwise invest for what.

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Viceroymenthol

Viceroymenthol

6th Gear
(edited)

6m can buy a 2nd property and rent out for passive income

 

Assuming pay cash $4m for 2nd property, maybe a 1,800 square feet apartment in newton or river valley. Monthly rental: $6k? $7K? So $72k a year? $84k? Pay agent, maintenance, property tax, left how much? $65k? A year?

 

OK so they each have $65k income from investment property and a spare $2m or so to play around.

 

Maybe use that $2m to start another business.

Edited by Viceroymenthol
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Karoon

Karoon

Turbocharged

well done to the 5 lads.... well done!

 

(i'd likely to have thrown in the towel after 1 year minimum pay + negative perceptions from all around + no holidays, luxuries etc)

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Mllcg

Mllcg

3rd Gear

Assuming pay cash $4m for 2nd property, maybe a 1,800 square feet apartment in newton or river valley. Monthly rental: $6k? $7K? So $72k a year? $84k? Pay agent, maintenance, property tax, left how much? $65k? A year?

 

OK so they each have $65k income from investment property and a spare $2m or so to play around.

 

Maybe use that $2m to start another business.

 

but landed property/bungalow.

 

u just pay for wear and tear, etc..

 

property tax also wont suck so much

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