Information Wants to be Free
Or at least it looks like people are willing to pay for it. That's what you can take away from InfoSpace's Q2 '03 results.
Revenue is just barely trickling up, and operating losses still abound. That's why I much prefer the other Info... infoUSA.
IUSA, while also showing slow incremental revenue growth, is likely to put up $80 to $90mm in EBITDA, against a TEV of $630 mm which makes this an attractive 7x multiple. Gotta love that! And once the internet behemoths realize the unmonetized value lying around in the InfoUSA asset, 7x will look cheap.
