This month there is news at my personal portfolio top: Oddbox has become my new largest position through a secondary market acquisition. The position was bought with a clear premium, so the seller can look forward to a quick & high profit. And the joy is all mine too.
What products does Oddbox sell?
Oddbox delivers fruit and vegetable boxes on a subscription basis. Depending on the size of the household, boxes of different sizes can be selected. Products are sourced from farmers and box contents vary depending on the season and which foods are currently in surplus. Oddbox thus contributes to saving food from being destroyed. Products with small blemishes are also included in the deliveries. Oddbox is a certified 'B Corp' and is therefore committed to sustainable entrepreneurship according to B-Corp standards.
Current company valuation
Despite the premium I paid, I believe I got a real value bargain. According to Seedrs Oddbox's 'fair valuation' is currently around GBP 8.6MM and is based on the last investment round from June 2020. Oddbox's growth was already high before the pandemic and the business model has probably benefited from the Covid pandemic. Actual Oddbox sales figures are not publicly available and therefore I cannot go into further detail. Depending on an investor's willingness to take risks, it can be worth buying a mini position of 1-2 shares on the secondary market, despite a high premium, in order to get an insight into the business figures.
conflict of interest
Note that personally I am currently planning to sell up to 50% of my investment through the secondary market in order to reduce my own risk of such a large position and to realize initial profits. Nevertheless, I believe that Oddbox will continue to offer me a good risk/reward ratio in the future and in the long term and that it has potential for growth and value appreciation over the next few years, and I therefore remain invested with the second half of my position as things stand. As always, this post reflects my personal opinion and it is NOT for a recommendation for action or advice. Each investor is responsible for his own actions (purchases or sales). Investing in startups is a high-risk investment and can result in the total loss of the capital invested.
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Hi, I've been following your blog for some time. You are doing a great job! I am also an avid investor on the Seedrs, Crowdcube and Companisto platforms. Your observations are a great benefit to me, for which I thank you.
My biggest investments include: Cheeky Panda, Landbay, Paysend, Plum, Skinny Tonic and Igloo energy.
I've been watching ODDBOX for a long time, but unfortunately I didn't have time to invest. What premium do you intend to sell the shares with? I would be interested in at least some.
Another investment I'm interested in is the second round of TheVeganKind, if any will be.
Thank you,
Best regards, Pavel Štich
Hi Pavel,
Thank you for your kind words. Good portfolio companies that you mention!
Regarding the premium to sell Oddbox, I will be having opportunistically. I don't plan to sell any shares below +200% vs. current valuation. If the market prices drop below this, I will likely rather hold on to my shares. The higher the going price is, the more I am inclined to sell some shares. Let's see how the market rate develops.
For 'The Vegan Kind' (TVK), I might be looking to increase my holding as well, depending on the valuation and whether there will be a pre-emption round. Might dedicate an article to TVK as well soon.
Best regards Philip