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What's fun about the Wadi is that it is funny.

And of all the funny things one of my favorites is the D&A list of Israel's largest private high-tech companies usually published in the press. For quite some time now you can find it at TheMarker, linked from one of the tabs at the top of the front page. I suggest you go there and open it. It is hilarious.

Here are some things I liked most on the first page (ranking 1 to 85):

Number 15: DealTime
Value according to D&A: $200M
D&A Comment: Re-positioning to Hand-Held units like cellular.
Wadi List Comment: How does one value an Internet company that is a cash bonfire? Ah, that is easy, I do what most analysts do - I compare. Now you should probably ask me: R U Sure about this method? Well, to tell you the truth, I'm quite sure. Rnt U?

Number 23: Mercado
Value according to D&A: $160M
D&A Comment: IPO in 2001.
Wadi List Comment: I would like to see that. Suggested ticker symbol: BDAP (acronym for "But D&A Promised").

Number 30: RichFX
Value according to D&A: $145M
D&A Comment: Nice commercial sales possible IPO in 2001.
Wadi List Comment: Problem here. Ticker BDAP is reserved for Mercado. I should assume IPO will have to wait.

Number 52: ImageID
Value according to D&A: $100M
D&A Comment: It is hard to believe we shell see the company going public on the NASDAQ. Better fit for Europe.
Wadi List Comment: Hummm.... tough one. ImageID is doing this nice picture thing for conventions and other events. Guess they don't have those in America. No. Not it. Must be something else. Maybe something with Cattle Diseases. Yep, put the ImageID sticker on every sheep and cow and you have an instant web based archive of dead livestock. IPO will happen. In Europe.

Number 71: G-Connect
Value according to D&A: $90M
D&A Comment: Scope of sales enables the company to avoid Issuing Stock (meaning: raising money).
Wadi List Comment: Good. How come nobody else thought of this idea? Anyway, I should hope the company will also avoid an IPO, you know, all tickers are already taken.

Number 72: Softwatch
Value according to D&A: $90M
D&A Comment: Cutting costs on its way to breakeven.
Wadi List Comment: This is an honorable effort and this time D&A valuation is right on the money. Guess the IPO comment was left out due to ticker symbol shortage.

Number 84: Atomica
Value according to D&A: $80M
D&A Comment: The current situation of the Internet requires finding a stable business model.
Wadi List Comment: Should they become like G-Connect? Maybe, but I have a better idea - becoming a PR agency. GuruNet (yep, that is the previous name of Atomica) is very good at this. As for everything else, think about the value investors recently gave Babylon then discount it assuming the company had no one using its products. I'm sure that with some math it is possible to get to $80M. But don't try this at home.

There is more - wait for tomorrow.

Wadi Writer #1 (Gray)
WadiList@mail.com

Links:
http://www.themarker.com
http://www.dealtime.com
http://www.rusure.com
http://www.mercado.com
http://www.richfx.com
http://www.imageid.com
http://www.g-connect.co.il
http://www.softwatch.com
http://www.atomica.com

Related Wadi Issues:
Another Look :: RichFX :: http://www.oocities.org/wadilist/0110.htm
RichFX Retaliation :: http://www.oocities.org/wadilist/0123.htm
Second Wave :: http://www.oocities.org/wadilist/0176.htm
Banylon Vs. GuruNet :: http://oocities.com/wadilist/0091.htm
Almost Right :: http://www.oocities.org/wadilist/0114.htm