We're posting up notes from the Sohn New York Investment Conference. Next up is Christopher R. Hansen of Valiant Capital Management who presented long Zillow (ZG).
Chris Hansen's Sohn New York Presentation
Long Zillow
• $7 billion market cap, $6 billion EV
• 70% market share
• Currently sells leads. Potential to move to taking part of the commission
• $1.2 billion in revenue. $350 million in EBITDA
• Huge potential in flipping homes. Has all the data. Has all the traffic of people looking to buy homes. Some people willing to sell for a little less in order to get cash quick and not deal with selling their house
• Will get into mortgage origination business. 50% to 75% attach rates
• Will get fees on this flip. Don’t even need to make money on the actual flip. Will turn over inventory 6 times (30 to 90 day holds) a year which will make it a good margin business
Be sure to check out the rest of the Sohn New York conference presentations.
Tuesday, May 7, 2019
Christopher Hansen Long Zillow: Sohn New York Conference
Monday, February 6, 2017
Valiant Capital Shows Yatra Online Stake
Chris Hansen's hedge fund firm Valiant Capital has filed a 13G with the SEC regarding shares of Yatra Online (YTRA). Per the filing, Valiant now owns 13.6% of the company with over 4.37 million shares.
The filing was made due to activity on December 31st. Yatra recently completed its initial public offering (IPO) at the end of last year. Valiant has previously invested in the company when it was still private back in 2011.
About Valiant Capital
Chris
Hansen founded Valiant Capital in 2008 after previously being a Managing
Director at Blue Ridge Capital. Valiant is a globally focused firm
with many international holdings in both private and public companies and has had between $2-2.5 billion in assets under management, preferring to stay smaller to be more nimble. Valiant returned 4.9% in 2015.
About Yatra Online
Per Google Finance, Yatra Online is "an India-based consumer travel platform and online travel agent. The Company’s segments include Air Ticketing, Hotels and Packages, and Others. Through Internet and mobile-based platform and call-centers, the Company provides the facility to book and service international and domestic air tickets to customer through business-to-consumer (B2C) and business-to-business-to-consumer (B2B2C) channel. Through an Internet and mobile-based platform, call-centers and branch offices, the Company provides holiday packages and hotel reservations. The Other segment includes the advertisement income from hosting advertisements on its Internet Websites, income from sale of rail and bus tickets, and income from facilitating Website access to travel insurance companies. It offers multiple mobile applications for a range of consumer segments and services, including Yatra, Yatra Mini, Yatra Web Check-In, Yatra Corporate, Travelguru HomeStay and Yatra Hoteliers DESTranet."
