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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Facebook    FB

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Facebook : Supplier search firm Scoutbee raises $60 million in venture funding

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01/20/2020 | 06:43am EST

Scoutbee, a recommendation engine that helps companies find suppliers, has raised $60 million (£46.22 million) in a second funding round from venture capital backers including Atomico, Lakestar and Siemens' investment arm Next47.

Berlin-based Scoutbee, founded in 2015 by a group of German-based operations managers, has scraped millions of company websites around the world and built a platform solution to help buyers find the right supplier.

It provides targeted recommendations in a business-to-business setting, much as social network Facebook places targeted ads based on a users' interests, co-founder and CEO Gregor Stuehler told the DLD technology conference on Monday.

For Lakestar partner Christoph Schuh, the investment represents a new bet on logistics and procurement industries whose global turnover of $30 trillion exceeds that of financial services.

Financial services have, meanwhile, attracted $150 billion in venture-capital funding since 2010. By contrast procurement has attracted just $2 billion and logistics $39 billion - a mismatch that he sees as an investment opportunity.

"They have trawled more than 10 million websites and structured the data," Schuh said of Scoutbee, confirming a report in the Handelsblatt daily. "And it's a matchmaking tool."

Lakestar has also backed freight-forwarding startup sennder in a $70 million investment round last July. sennder faces competition from Uber Freight, which entered the German market last year.

The Series B funding round at Scoutbee follows an initial investment round of $12 million last year.

(Reporting by Douglas Busvine; Editing by Michelle Martin)

Stocks mentioned in the article
ChangeLast1st jan.
FACEBOOK -3.78% 189.75 Delayed Quote.-7.55%
SIEMENS AG -1.83% 96.7 Delayed Quote.-17.02%
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Financials (USD)
Sales 2020 85 635 M
EBIT 2020 31 464 M
Net income 2020 25 980 M
Finance 2020 68 372 M
Yield 2020 -
P/E ratio 2020 21,0x
P/E ratio 2021 17,6x
EV / Sales2020 5,52x
EV / Sales2021 4,43x
Capitalization 541 B
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Technical analysis trends FACEBOOK
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Mean consensus BUY
Number of Analysts 52
Average target price 245,11  $
Last Close Price 189,75  $
Spread / Highest target 58,1%
Spread / Average Target 29,2%
Spread / Lowest Target -36,8%
EPS Revisions
Managers
NameTitle
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
FACEBOOK-7.55%562 109
TWITTER8.05%27 041
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LINE CORPORATION0.00%11 599
SINA CORPORATION-17.93%2 375
NEW WORK SE-13.36%1 608