Sagarmatha Tech

Sagarmatha Technologies - an African multi-sided platform group aspiring to be the emerging market leader in the Fourth Industrial Revolution. #Technology

[Sagarmatha Tech @SagarmathaTech]

ICYMI: The hypocrisy and lies of @BDliveSA #BusinessDay
https://t.co/SoneTT3LQZ #business #africabiz #BlackExcellence

[Sagarmatha Tech @SagarmathaTech]

#Africa will be colonised all over again, this time by a virtual colonisation, with all profits remaining out the country, no taxes being paid, more opportunities being created for non-Africans. Is this what we mean when we say SA is “open for business”?  Surely not. #Sagarmatha

[Sagarmatha Tech @SagarmathaTech]

Had #Sagarmatha known that the @JSE_Group would withdraw the listing on such a technicality, we would not have spent so many resources and wasted our time trying to list in #SouthAfrica.  #BusinessDay @BDliveSA @mailandguardian @SamSoleZA

[Sagarmatha Tech @SagarmathaTech]

This campaign was launched and focused on the inclusion of Independent Media (which was only 3 percent of #Sagarmatha’s value in the listing).

[Sagarmatha Tech @SagarmathaTech]

The #Sagarmatha listing was scuppered after a determined, manipulative and dishonest disinformation campaign by #TisoBlackstar publications, especially #BusinessDay.

[Sagarmatha Tech @SagarmathaTech]

Read in full: https://t.co/F6iOxtkfuQ

[Sagarmatha Tech @SagarmathaTech]

#Sagarmatha or virtual colonisation: It is time to set the record straight https://t.co/F6iOxtkfuQ

[Sagarmatha Tech @SagarmathaTech]

The listing of #Sagarmatha was an opportunity to raise more capital in order to scale the business for the African continent and to skill up 5 000 young Africans in three African regional centres so that Africans can take ownership of the technology economy.

[Sagarmatha Tech @SagarmathaTech]

To date these companies have received hundreds of millions of rand of investments from the Sekunjalo Group in order to keep abreast of technology, develop skills and increase market presence. #Sagarmatha

[Sagarmatha Tech @SagarmathaTech]

#Sagarmatha is an MSP with 14 business sectors including e-commerce, digital media applications, online classifieds, social media and syndicated content.

[Sagarmatha Tech @SagarmathaTech]

These Professors explain that this is the reason why the US is miles ahead of other countries since they have worked out this modelling and there is a huge investor community that understands it. @BDliveSA @amaBhungane @mailandguardian @SamSoleZA #Sagarmatha

[Sagarmatha Tech @SagarmathaTech]

Prominent professors Damodaram, Galloway and Teixeira from different Ivy League universities, confirm that the valuation modelling for MSPs is very different to non-technology companies.  @BusinessDay @amaBhungane @mailandguardian #Sagarmatha

[Sagarmatha Tech @SagarmathaTech]

Early this year, #Harvard Business Review published an article by several professors explaining why current accounting valuation methodologies are no longer applicable to #MSP companies and ignored by the capital markets.

[Sagarmatha Tech @SagarmathaTech]

The above examples demonstrate that #MSP companies have higher values with increased losses. This model, however, is not commonly understood by investors in South Africa. #Sagarmatha

[Sagarmatha Tech @SagarmathaTech]

Bytedance, a news aggregator using artificial intelligence (AI) with a loss of almost $1bn, has a market valuation of $75bn. #Netflix which is very popular in #SouthAfrica has incurred losses to date of $2bn, but has a market capitalisation of $160bn. #Sagarmatha

[Sagarmatha Tech @SagarmathaTech]

Similarly, @Uber, another MSP company with losses to date of $11bn ($404m last quarter), is now valued at $120bn; PDD which listed on the Nasdaq about three months ago, raised $1.6bn, and has a loss to date of almost $2bn but with a market capitalisation of more than $23bn.

[Sagarmatha Tech @SagarmathaTech]

For example, Amazon which became the world’s second trillion dollar company after Apple, increased its losses for more than 15 years and is only recently profitable and trades at a stupendous multiple of earnings. #Sagarmatha

[Sagarmatha Tech @SagarmathaTech]

MSPs are very different to non-technology platform companies. MSPs run at huge losses, but have an inverse relationship to value, especially in their first few years. The greater the loss, the higher the value. #Sagarmatha

[Sagarmatha Tech @SagarmathaTech]

We believed, however, that a listing on a South African exchange would provide South African asset managers and investors a second opportunity to participate in the platform economy. #Sagarmatha

[Sagarmatha Tech @SagarmathaTech]

#Sagarmatha

[Sagarmatha Tech @SagarmathaTech]

Our objective was therefore less so about capital raising but more to enable us to have a secondary listing abroad.

[Sagarmatha Tech @SagarmathaTech]

#Sagarmatha

[Sagarmatha Tech @SagarmathaTech]

Nonetheless, we were confident that additional capital would be raised on a secondary listing in New York and Hong Kong. 
Our investment teams had visited both the New York and Hong Kong exchanges in 2017, where they were enthusiastically received for a secondary listing.