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INTERNET | eCommerce / Marketplace
bol.com

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Founded Year

1999

Stage

Acquired | Acquired

Valuation

$0000 

About bol.com

bol.com is a retail website that offers a range of products that include books, entertainment, electronics and toys.In February 2012, bol.com was acquired by Royal Ahold. The valuation of bol.com was $468.58 million.

bol.com Headquarter Location

Keulsekade 189

Utrecht, 3534 AC,

Netherlands

+31 0900 2025438

Latest bol.com News

Elliott Goes Big on a $35 Billion Dutch Experiment

Nov 18, 2021

The Washington Post Close Analysis Interpretation of the news based on evidence, including data, as well as anticipating how events might unfold based on past events Elliott Goes Big on a $35 Billion Dutch Experiment A basket of fresh fruit and vegetables at Walthamstow Market in London, U.K., on Thursday, Sept. 23, 2021. Just a few weeks after warning that interest rates need to rise in the next few years, the Bank of England finds itself facing a delicate balance of risks as the recovery stalls and inflation accelerates. (Bloomberg) By Chris Hughes | Bloomberg By Chris Hughes | Bloomberg Today at 6:22 a.m. EST Royal Ahold Delhaize NV should have known better. The Dutch food retailer’s shares have given up the brief gains that followed Monday’s announcement of fresh financial targets and plans to carve out e-commerce subsidiary Bol.com. Even the jump following a $1 billion endorsement by Elliott Management Corp. on Wednesday proved fleeting. The likely snag? Investors can’t shake off their displeasure that Ahold’s strategy requires increased capital expenditure. Their reaction just reinforces the logic of selling a stake in Bol.com. Corporations are announcing splits on almost a daily basis. In retail, there’s a parallel fad for shedding e-commerce platforms — witness the reported pressure on Macy’s Inc. to do just this. Bol.com sells both Ahold goods as well as third-party merchandise on commission. Here, the industrial case for a carve out isn’t compelling. Ahold acquired the business in 2012 for 350 million euros ($396 million), so it’s already relatively autonomous within the empire. Advertisement Story continues below advertisement With a cash-gushing and financially strong parent, Bol.com scarcely needs direct access to the capital markets. At best, independence might help with hiring people who’d rather work for a pure dotcom than the subsidiary of an old-economy behemoth. But it does look like the market is willfully denying that this business could be worth anything substantial, and an IPO could make its attractions harder to ignore while keeping Ahold in control. Ahold’s 31 billion-euro market value equates to 14 times forecast earnings. That’s a modest premium to Tesco Plc, itself justified by its sizable U.S. exposure on top of comparable 4% operating margins. There’s little in the price for Bol.com. That could well be because the unit offers nothing to investors fixated on cash returns from share buybacks and dividends. It’s being run for growth not for cash. Ahold sees revenue doubling come 2025, implying roughly 15% annual expansion. For now, Bol.com’s earnings before interest, tax, depreciation and amortization will be just 150 million to 170 million euros on some 5.5 billion euros of sales this year, Ahold predicts. Advertisement Story continues below advertisement Current weak profitability may be no bar to a punchy valuation as a standalone company. If the problem is one of misunderstanding, an IPO would provide the pretext for Bol.com to set out its stall to investors who are less focused on near-term free cash flow. E-commerce retailers like Zalando SE trade on just under twice their next-12-month sales, Ocado Group Plc at over 4 times. Other specialists are on still higher multiples of anticipated revenue. The competitive threat from Amazon.com Inc. may be a dampener on what investors are willing to pay here. Who knows, perhaps Bol.com could command an enterprise value north of 10 billion euros. At this stage, it’s just guesswork. Few companies trade at the value of their component parts and the idea that the market is missing something hiding in plain sight is always a gamble. But a listing would settle the question once and for all. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners. Chris Hughes is a Bloomberg Opinion columnist covering deals. He previously worked for Reuters Breakingviews, as well as the Financial Times and the Independent newspaper. More stories like this are available on bloomberg.com/opinion ©2021 Bloomberg L.P.

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Expert Collections containing bol.com

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

bol.com is included in 1 Expert Collection, including E-Commerce.

E

E-Commerce

8,753 items

bol.com Patents

bol.com has filed 1 patent.

The 3 most popular patent topics include:

  • Cisco protocols
  • Electric power distribution
  • Electrical safety
patents chart

Application Date

Grant Date

Title

Related Topics

Status

8/31/2017

Network protocols, Progress (spacecraft) missions, Cisco protocols, Electric power distribution, Electrical safety

Application

Application Date

8/31/2017

Grant Date

Title

Related Topics

Network protocols, Progress (spacecraft) missions, Cisco protocols, Electric power distribution, Electrical safety

Status

Application

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