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Old 05-14-2017, 06:01 PM   #81
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As far as the price ever being released, although I acknowledge that it is not material to Garmin, public companies release lots of financial information that is not material and analysts clamor for that stuff.
I said I saw where you got it. Perhaps you got my draft and not final post.

I'm well aware of what public companies do, having spent 24 years in one. They could toss it in somewhere in a list of acquisitions during the year.
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Old 05-14-2017, 06:18 PM   #82
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"Jeff Siegel, a serial entrepreneur whose Active Captain (URL) is an online charting information add-on and boater network with 1.5 million members worldwide."

I'm assuming that 1.5 million number comes from Jeffrey.

So consider the source.
Right, 1.5M from Jeffery, and 250,000 in a press release by a public company with laws and shareholders they are accountable to. The discrepancy doesn't surprise me one bit.
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Old 05-14-2017, 06:58 PM   #83
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Right, 1.5M from Jeffery, and 250,000 in a press release by a public company with laws and shareholders they are accountable to. The discrepancy doesn't surprise me one bit.
I think this was talked about in another place too.

1.50 million users - the number of boaters worldwide who use ActiveCaptain
0.25 million users - the number who have contributed to the database

So both numbers make sense. Garmin is conservative so they use the smaller number.
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Old 05-14-2017, 07:11 PM   #84
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Probably over 50% of what Garmin paid for was goodwill. I'm just guessing about $5 per customer. That is where the customer count plays into this. Just business---
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Old 05-14-2017, 07:29 PM   #85
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I think this was talked about in another place too.

1.50 million users - the number of boaters worldwide who use ActiveCaptain
0.25 million users - the number who have contributed to the database

So both numbers make sense. Garmin is conservative so they use the smaller number.
I'm not buying into 1.5 million users worldwide at all. That would be 100% market penetration. For example, in the US, there are 270,000 powerboats over 28' and 112,000 sailboats over 28' registered. Most of AC's users are in the US. I'd estimate European boats owned in the same size range to be about 1.5-2.0 million. 85% of the websites visitors are from the US. 8% from Canada. That would indicate they represent over 90% of users of AC.

1.5 million wouldn't be far off the site visitors per year, not unique visitors, but total.

I don't know what 250k could represent. I'm sure some statistical number but not active users.
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Old 05-14-2017, 07:35 PM   #86
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Probably over 50% of what Garmin paid for was goodwill. I'm just guessing about $5 per customer. That is where the customer count plays into this. Just business---
Based on the number of users discussed, 250K , that would put the acquisition at around $1.25M.
Sorry but I can't see it being sold that low. I know I wouldn't sell at that number. Unless there's a Pandora in a box that was about to be let out.
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Old 05-14-2017, 08:30 PM   #87
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I'm not buying into 1.5 million users worldwide at all. That would be 100% market penetration. For example, in the US, there are 270,000 powerboats over 28' and 112,000 sailboats over 28' registered. Most of AC's users are in the US. I'd estimate European boats owned in the same size range to be about 1.5-2.0 million. 85% of the websites visitors are from the US. 8% from Canada. That would indicate they represent over 90% of users of AC.

1.5 million wouldn't be far off the site visitors per year, not unique visitors, but total.

I don't know what 250k could represent. I'm sure some statistical number but not active users.
You think there are 5-8x more boats in that size range in Europe vs the US?
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Old 05-14-2017, 08:41 PM   #88
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You think there are 5-8x more boats in that size range in Europe vs the US?
In total Europe has 5 times the number of boats as the US, so I just used that number for this size too.
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Old 05-14-2017, 09:12 PM   #89
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In any event I'm sure both Jeff and Garmin feel they got a fair deal or neither got a great deal. I don't know how AC will evolve but I can hope it it will improve.
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Old 05-14-2017, 09:26 PM   #90
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What I am concerned about is that I don't trust the AC reviews of marinas, for example. Each Marina you pull up says if you don't like this one go to this sponsoring marina. Some of his sponsoring marinas I know to be the very definition of crappy. While other non sponsoring ones are very nice.

Follow the money dudes.
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Old 05-14-2017, 10:10 PM   #91
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But that could be said on any recommendation you receive.
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Old 05-14-2017, 11:39 PM   #92
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What I am concerned about is that I don't trust the AC reviews of marinas, for example. Each Marina you pull up says if you don't like this one go to this sponsoring marina. Some of his sponsoring marinas I know to be the very definition of crappy. While other non sponsoring ones are very nice.

Follow the money dudes.
Use the information wisely. I have found the reviews very informative. I look at the detail more than the rating. Then there's the basic information provided. I know whether to pursue further very quickly.

It's like any crowd sourced reviews. You get good and bad quality of reviews. For instance, someone rates one poorly because of the price. Well, to me the price is a fact, not a review item. It's shown elsewhere. You knew going in what the price was so don't downgrade because of it. I know restrooms and showers are important to many and enter many reviews.

I'm a fan of Active Captain, even though not of Jeffrey. I have not been let down by his recommended marinas, although often I select another marina near them. It also is very much truth in advertising as the section you reference is titled "Visit a sponsor instead" so it makes it very clear it's telling you about a sponsoring marina.
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Old 05-14-2017, 11:48 PM   #93
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In total Europe has 5 times the number of boats as the US, so I just used that number for this size too.
Wow, that really surprises me. The populations are about equal, so I would expect about equal boating populations. We have more inland territory, but our populations is heavily concentrated near the coasts, so I wouldn't expect that to make a big difference.
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Old 05-15-2017, 12:53 AM   #94
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Wow, that really surprises me. The populations are about equal, so I would expect about equal boating populations. We have more inland territory, but our populations is heavily concentrated near the coasts, so I wouldn't expect that to make a big difference.
No, the population of Europe is more than 2.3 times that of the US.
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Old 05-15-2017, 01:32 AM   #95
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Based on the number of users discussed, 250K , that would put the acquisition at around $1.25M.
Sorry but I can't see it being sold that low. I know I wouldn't sell at that number. Unless there's a Pandora in a box that was about to be let out.
MB

You missed my point. The site hit or customer count used for goodwill calculation is an unknown to us and I'm sure negotiated between the parties. Somewhere etween the two stayed numbers. And as I stated, likely around 50% of the acquisition cost. Then add in a salary for the standstill calculation. All in all Jeffrey's new boat is paid for with a tidy sum in top.
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Old 05-15-2017, 08:21 AM   #96
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I'm not buying into 1.5 million users worldwide at all. That would be 100% market penetration.

1.5 million wouldn't be far off the site visitors per year, not unique visitors, but total.

I don't know what 250k could represent. I'm sure some statistical number but not active users.

Might be hits (or clicks?) are maybe counted multiple times as separate "users?" We have AC integrated into MaxSea Time Zero on two computers, on two tablets each using two different nav apps, and on two phones, each also using those same two different nav apps. Different IPs would show up for our various AC-related activity.

OTOH, all of those are tied to the same AC account...

Another thought is that "users" isn't necessarily limited to AC posters.

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Old 05-15-2017, 08:49 AM   #97
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Might be hits (or clicks?) are maybe counted multiple times as separate "users?" We have AC integrated into MaxSea Time Zero on two computers, on two tablets each using two different nav apps, and on two phones, each also using those same two different nav apps. Different IPs would show up for our various AC-related activity.

OTOH, all of those are tied to the same AC account...

Another thought is that "users" isn't necessarily limited to AC posters.

-Chris
I would assume it's subscribers, not just posters, but still the numbers just don't work. Often numbers like this are tossed around rather loosely, coming from some source, but not representing what they are used to say.
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Old 05-15-2017, 08:59 AM   #98
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Come on now, it is on the Internet, it must be true.
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Old 05-15-2017, 09:30 AM   #99
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Would not be surprised if one of the key reasons for buying AC is to obtain the forward thinking ideas (often called trade secrets) of Jeffrey and Karen.
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Old 05-15-2017, 09:33 AM   #100
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Would not be surprised if one of the key reasons for buying AC is to obtain the forward thinking ideas (often called trade secrets) of Jeffrey and Karen.
My guess is it was to get their vegan dog food recipes.
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