Blur Group Share Discussion Threads

[j777j] 28/8/2014 10:08

The article makes some very valid points.

Looks like the 6000th project will be listed today.Incredible
progress in the last year,now running on all cylinders.

I am methodically sizing my position taking an 18 month view.

[haydock] 28/8/2014 10:07

Slowly, slowly catchee monkey.

[stuart37] 28/8/2014 09:58

Another little punt on these via my SIPP - 7000 @68.9 - not come up
yet but sure it will later...............

[huntie2] 27/8/2014 16:08

GECR?....they will put a buy note on anything! Bad sign IMHO.

[j777j] 26/8/2014 10:21

GECR buy note on Blur

Full report

blur Group: The World's Leading Exchange For Business Services





blur Group is an early-stage technology company that owns and operates a leading online exchange for buying and selling business services. Used by some of the world's biggest companies, the platform offers unparalleled benefits, including significantly shortening project cycles and lowering execution costs. We expect blur Group to see considerable growth, particularly given the significant size of its addressable market - driven by the expected ongoing global shift towards ecommerce - the lack of competition, the high barriers to entry and its ever growing market position. Accordingly, with the shares taking a recent hit, due to the change in its revenue recognition policy, and the group stepping up its marketing efforts, we feel now presents an attractive entry point and we initiate coverage with a recommendation of buy and target price of 117.96p.

The World's Leading Business Services Exchange

The Global Services Exchange provides corporate buyers access to the largest pool of business services suppliers via an online platform that is simple and easy-to-use, transparent, accessible and secure. Essentially, it is to business services what Amazon and ebay are to consumer goods.

Significant Addressable Market

Using economic data and data from listed companies, we estimate that the global business services e-commerce market size was worth $150bn in 2011. Assuming that the global business services sector grows at a similar rate as world GDP growth and global business services e-commerce sales as a proportion of total sales grows by just 100 basis points a year, we extrapolate the 2011 addressable market figure and estimate blur's addressable market reached $265bn by 2013, and will grow to $641bn by 2018.

First Mover Advantage

We believe that there is no other online exchange for buying and selling business services, allowing blur to benefit from first mover advantage. Furthermore, given the high number of buyers and suppliers required for an effective exchange, we believe the barriers to entry are high.

Attractive Valuation

Using the FCF as our preferred valuation method, we have derived a target value of $94.14m (£55.56m) or 117.96p per share, which suggests upside to the current share price of 84%. We feel that the assumptions used are conservative, particularly given that we have assumed that the ecommerce share of the market remains at just 3%, blur's share of the market only reaches 1% and given that we have used a high discount rate of 20%. In addition, taking the average EV/Sales of similar, but mature, e-commerce companies of 2.2x, we have derived a valuation of $88.99m (£52.51m) or 111.50p.









Table: Financial overview
Year to 31st Dec. 2012A 2013A 2014E 2015E
Revenue ($`000) 2,807 4,779 16,955 35,474
Gross profit ($`000) 728 1,165 4,133 8,646
EBITDA *($`000) (1,818) (6,371) (7,171) (3,787)
EPS* (cents) (8.8) (23.1) (20.9) (10.9)
Net (debt)/cash ($`000) 4,453 9,562 20,682 14,041
Source: GECR and company
Target price 117.96p

Key data
Share Price 64.00p
52 week high/low 780.85p / 59.50p
Primary exchange AIM
EPIC BLUR
Shares in issue 47.09m
Market Cap £30.14m
Sector Software & Computer Services

[j777j] 23/8/2014 12:56

A year ago they were at 2,500 projects today nearly 6,000 projects so I think you are wrong.

[j777j] 22/8/2014 13:19

Amazon Ebay ...It was not long ago blur was trumpeting 5,000 projects.Today we are almost at 6,000 projects.Asia office opening likely soon.

[bookbroker] 20/8/2014 11:04

Same cos. that were there eighteen months ago!

[homer8] 19/8/2014 11:25

When is the interim results?

[haydock] 19/8/2014 10:34

HSBC, Alere, CNN, G.E. F.T.

Butlins, Zurich, Berlitz, Regus,& Cancer research.

[haydock] 19/8/2014 10:29

New to me anyway little spinner on the web site.

They have the logo's of companies that have presumably placed projects.

Nice to see the F.T. up there in lights.

Butlins may be a little Hi de Hi, but you cannot dismiss the F.T as naff !

[homer8] 18/8/2014 11:39

I purchase those share Milesoffshore.

[milesoffshore] 18/8/2014 11:19

'Why is a buy listed as a sell'?? - every trade is a buy and a sell. Or do you mean a trade nearer the bid or the offer?

[homer8] 18/8/2014 10:51

Why is a buy listed as a sell?

[stuart37] 15/8/2014 14:29

Yes, had noticed that myself - building up quite nicely. Is there a trading statement in september?

[supersturrock] 14/8/2014 21:36

After a bit of a breather earlier in the Summer, the deal flow seems to be building momentum again.

[j777j] 07/8/2014 11:08

blur Group Signs First Alliance Partner in Asia

Thursday 7 August 2014 PDF Print





Sourcing vendors can be a lengthy process and we see blur's platform as a great way to help our clients

Compass Offices Increases Value to Asia Pac SME Community Via Global Services Exchange


blur Group, the s-commerce company, today announces its first Global Alliance Partner in Asia; Hong Kong based Compass Offices, the fastest-growing premium serviced offices in the region, houses thousands of businesses across Asia.

The deal will drive referrals from SMEs and business communities across the globe to both Compass Offices and blur Group and incorporates several joint marketing strategies. The partnership brings together all the clients in the Compass Offices network with over 50,000 users of blur Group's Global Services Exchange.

"We're seeing extraordinary growth across Asia Pac and this looks set to continue with innovative partners like Compass," said Gerry Gross, Chief Commercial Officer at blur Group. "The geography of the region means that companies here are often limited to local marketing or technology service providers if they want to avoid expensive travel costs. The success of Compass's rapidly expanding Asian footprint makes them a great partner to help us reach forward thinking organizations."

"Our business extends beyond serviced offices and meeting rooms to include ongoing support to businesses expanding overseas," says David Smalley, Partnerships Manager at Compass Offices. "Sourcing vendors can be a lengthy process and we see blur's platform as a great way to help our clients work with external suppliers from all over the world, and not just in their new market."

[2donaldduck] 31/7/2014 18:41

Looking a bit more positive. Shame i bailed out at 58p hoping to buy back in much lower! Will be interesting to see if this maintains an upward trend over the next few days.... Still fully believe in the model, just frustrated with the losses i'm holding.

[j777j] 31/7/2014 18:27

Several 250,000 odd buys

[2donaldduck] 31/7/2014 18:23

Not sure what caused that 10% surge today?