Twitter is unaware Along with the news that Topps, which is a company perhaps best known for making collectible trading cards, is going public through SPAC.
The reverse merger with its chosen Blanc-Check company values the combination on an equity basis for $ 1.163 billion. This makes the tops some sort of unicorn. And because it has both e-commerce and digital angles, Topps is technically one
The fruit Tech Company.
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Why do we care? We care because Topps and its products are popular with the same set of people who are very excited about creating rare digital items on the exclusive blockchain. Yes, the baseball card company is going public for the first time in a way that can easily be read as a way to put money into NXT craze and without actually buying cryptocurrency and speculating itself.
And Topps clearly owns several properties in the candy space, which I find cynical.
So let’s have a small circle as we go through the Topps deck and then ask if the company is being judged on its actual, and marginally lucrative, potential revenue from current business or future NXT related activities is.
So, business card
What is Topps? A mix of business units that break it into four categories: physical games and entertainment (trading cards), digital games and entertainment (digital collectibles, applications and games), gift cards (gift cards for external brands), and transitions (candy) .
In terms of scale, the company’s physical goods and confection business are by far the major revenue drivers. Here is the data:
First, inspect the company Pro format accommodates EBITDA Has almost doubled from 2019 to 2020. This is an aggressive expansion in hyper-adjusted profitability. And note how much the company’s physical sports business grew from 2019 to 2020; About 50% of the profit helped the company grow well last year.