- We love platform businesses since they tend to have good competitive "moat" characteristics once they reach a given scale.
- Most well known platform companies are already more than fully valued, such as Airbnb and Uber, so we have to look for smaller verticals.
- One interesting niche is pet care and pet services, where Rover operates and is becoming the leader in the space.
- Rover's valuation is not exactly crazy cheap, but at current prices a case can be made that the company offers attractive returns if growth continues for a few more years.
For further details see:
Rover: Why You Should Consider Adding This Pet Services Platform To Your Portfolio