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SEARCH PARTY GROUP LTD LEVEL 5, 79 COMMONWEALTH ST. SURRY HILLS NSW 2010
SEARCHPARTY.COM | ACN 139 977 772
ASX Announcement ASX code: SP1 October 17, 2016
Presentation for investor conferences The Board of Search Party Group Ltd (ASX:SP1) (Search Party or the Company) is pleased to provide to the market the investor presentation which MD Ben Hutt will present at investor conferences in Australia this week. Schedule
1. TechKnow Conference o Tuesday 18th October 12.25pm Grand Hyatt Melbourne o Thursday 20th October 2.45pm Radisson Blu Sydney o Friday 21st October 9.20am Hilton Brisbane
2. Australian Microcap Conference
o Wednesday 19th October 12.45 Sofitel Melbourne Investors are welcome to attend and should contact the conference organisers to register. About Search Party Search Party Group Ltd (ASX:SP1) is a recruitment services marketplace that connects employers and recruiters to make hiring faster, easier and more effective. Search Party has offices in Sydney, London and Toronto. It also owns employer branding site, JobAdvisor. For more information, visit searchparty.com and jobadvisor.org.
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Investor OverviewOctober 2016
Search Party Group Ltd (ACN: 139 977 772)
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DisclaimerThis presentation contains “forward-looking statements.” These can be identified by words such as “may”, “should”, “anticipate”, “believe”, “intend”, “estimate”, and “expect”. Statements which are not based on historic or current facts may be forward-looking statements.
Forward looking statements are based on: a) Assumptions regarding the Company’s financial position, business strategies, plans and objectives of management for future operations and development
and the environment in which the Company will operate; and b) Current view, expectations and beliefs as at the date they are expressed and which are subject to various risks and uncertainties.
Actual results, performance or achievements of the Company could be materially different from those expressed in, or implied by, these forward-looking statements. The forward-looking statements contained within the presentation are not guarantees or assurances of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company, which may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by forward-looking statements. For example, the factors that are likely to affect the results of the Company include general economic conditions in Australia and globally; competition in the markets in which the Company does and will operate; weather and climate conditions; and the inherent regulatory risks in the businesses of the Company. The forward-looking statements contained in this presentation should not be taken as implying that the assumptions on which the projections have been prepared are correct or exhaustive. The Company disclaims any responsibility for the accuracy or completeness of any forward-looking statement. The Company disclaims any responsibility to update or revise any forward-looking statements to reflect any change in the Company’s financial condition, status or affairs or any change in the events, conditions or circumstances on which a statement is based, except as required by law. The projections or forecasts included in this presentation have not been audited, examined or otherwise reviewed by the independent auditors of the Company. You must not place undue reliance on these forward-looking statements.
All market share information in this presentation is based on management estimated based on internally available information unless otherwise indicated.
This presentation is not intended to (nor does it) constitute financial advice or an offer, invitation or recommendation by or on behalf of the Company, its subsidiaries, or any other person to subscribe for, purchase or otherwise deal in any securities in the Company, nor is it intended to be used for the purpose of or in connection with financial advice, offers, invitations or recommendations to subscribe for, purchase or otherwise deal in any securities. This presentation has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information in this presentation and the Company’s other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange having regard to their own objectives, financial situation and needs and seek such legal, financial and/or taxation advice as they deem necessary or appropriate to their jurisdiction.
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Now for something completely different…
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Businesses like us
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Online retail
In any vertical many compete, one dominates
Holiday rentals
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Marketplaces: slow to start, get big fast
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Valuation multiples driven by stage of life
Founded Annual Revenue (2015) Market Cap
1994
1995
2008
2009
$107Bn
$8.6Bn
$900M
$1.5Bn
$24Bn
$35Bn
$359Bn
$68Bn
Age
22yrs
21yrs
8yrs
7yrs
Multiple
27X
4.1X
3.4X
45X
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Marketplaces help grow industries
Online retail Holiday rentals
Est. 1995
$300bn$5bn
2016 Global IndustryRevenue Est. 2008
$170bn$66bn
2019 Global IndustryRevenue
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“What you’re going to see over the next five years will be more billion - dollar marketplaces built
than over the past 20 years combined.”
– Simon Rothman (Greylock Partners), 2014.
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# People % Workforce
AU
UK
CA
US
6M
15M
5M
130M
70%
60%
50%
50%
# SMEs
2.1M
5.4M
1.1M
5.7M
# Jobs p.a.
1M
3M
1.2M
26M
Potential $1 trillion
Recruitment Industry $456bn
Online$9bn(3%)
Why a marketplace in recruitment?
Total 156M 60%14M 31M
Making it real: SMEs are the bulk of the opportunity
NOW
SOON
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Some alternative models
Job Boards Social Recruitment New Breed Agency Referral Platforms
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Search Party:
Fast, affordable hiring for all businesses, everywhere…
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How it works
Employers
Post a job, set a fee and shortlist recruiter
represented candidates.
Recruiters
Screen for skills and culture match and
suggest candidates.
Candidates
Review culture, sit interviews and get hired.
Search Party
Manages all payments and earns 20% of the
recruitment fee.
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All three stakeholders win
Job SeekerLearn about companies they want to work for
EmployerShowcase their culture to attract the right people
Job Seekers
Employers Recruiters
Job SeekerGet recruiter representation & find a new job
RecruiterSource candidates for clients
EmployerFill roles fast
RecruiterPlace candidates in roles
We earn 20% of the recruitment fee
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Broad range of roles in focus
Skilled/white collar White collar management
Executive(head hunting)
Unskilled labour
Search Party
Focus Industries include: IT & media, sales & marketing, accountancy & finance, and healthcare.
$ $$$
FOCUS In Scope
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Broad range of fees being paid
0
10
20
30
40
50
60
70
1-2000 2001-4000 4001-6000 6001-8000 8001-10000 10001-12000 12000+
Num
bero
fPlacemen
ts
$GrossPlacementFee
PlacementFeesEarnedQ3-2016(AUD)
Total UK Australia Canada Other
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9 million+ professional candidates globally. More than 30 countries with 10,000+
Candidates
Employers
Recruiters
CandidatesRecruitersEmployers
250,000+192771
Canada
CandidatesRecruitersEmployers
1,000,000+470
2,236
Australia
CandidatesRecruitersEmployers
7,000,000+729
3,756
UK
US & Other
CandidatesRecruitersEmployers
250,000+159615
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Our Competitive Advantage
MarketplaceFirst-mover
& unique model
Data Science & Tech
Branding &Reviews
Deep experience & wisdom
Ben HuttCEO
Magda WalczakCCO
Jason ShepherdCFO
Stuart GatenbyCTO
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Major Shareholders (wisdom)
Ben HuttCEO & Managing Director
Execution focused entrepreneurMacquarie, PwC, others
Josh RogersConsultant
Marketplace specialistFounding investor Freelancer.com
Trevor LoewensohnChairman
Managing Director AlceonPreviously UBS, JP Morgan
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Business Performance
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Hiring demand growing
Jobs growing in core locations and in other countries
0
1000
2000
3000
4000
5000
6000
0
200
400
600
800
1000
1200
1400
1600
1800
Q4-2014 Q1-2015 Q2-2015 Q3-2015 Q4-2015 Q1-2016 Q2-2016 Q3-2016
#ofVacancie
s
NewVacanciesUK Australia Canada Other Cumulative
New Jobs
Fee Agreed
Interviews
Recruitment Funnel
Placements
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Value on platform growing significantly
$-
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
$14,000,000
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
$4,500,000
Q4-2014 Q1-2015 Q2-2015 Q3-2015 Q4-2015 Q1-2016 Q2-2016 Q3-2016
UniqueFeesAccepted(AUD$)UKFeesAccepted(AUD) AustralianFeesAccepted(AUD) CanadianFeesAccepted(AUD)
OtherFeesAccepted(AUD) Cumulative
More than $4m in fees agreed in Q3
New Jobs
Fee Agreed
Interviews
Recruitment Funnel
Placements
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Interviews building well
Conversion from interview to placement 1 in 4 (and improving)
New Jobs
Fee Agreed
Interviews
Recruitment Funnel
Placements
0
500
1000
1500
2000
2500
3000
3500
0
100
200
300
400
500
600
700
800
900
Q4-2014 Q1-2015 Q2-2015 Q3-2015 Q4-2015 Q1-2016 Q2-2016 Q3-2016
#ofInterviews
QuarterlyInterviewsConfirmedUK Australia Canada Other Cumulative
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0
50
100
150
200
250
300
350
400
450
500
0
20
40
60
80
100
120
140
160
Q4-2014 Q1-2015 Q2-2015 Q3-2015 Q4-2015 Q1-2016 Q2-2016 Q3-2016
#ofPlacements
QuarterlyPlacementsUK Australia Canada Other Cumulative
Placements up 34% on Q2
Placements occurring outside our core markets, ready to grow
New Jobs
Fee Agreed
Interviews
Recruitment Funnel
Placements
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Revenue building fast
53% compound quarterly growth in revenue
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
$-
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
$500,000
Q4-2014 Q1-2015 Q2-2015 Q3-2015 Q4-2015 Q1-2016 Q2-2016 Q3-2016
QuarterlyGrossRevenueUnitedKingdom Australia Canada Cumulative
New Jobs
Fee Agreed
Interviews
Recruitment Funnel
Placements
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Overview against market KPIs
* Search Party earns ~ 20% of this gross revenue transaction few net revenue
Users signed up Total 30 June ‘16 Total 31 Sept ‘16 Quarterly Growth %
New Employer Users 5 960 7 378 23.8%
New Recruiter Companies 1 284 1 550 20.7%
Metric Q2 CY’16 Q3 CY’16 Quarter on Quarter Growth %
Jobs Posted 1 119 1 615 +44.3%
Value of Fees Posted / Offered $3.52M $5.91M 68%
Number of Jobs with a Fee Agreed 836 874 +4.5%
Value of Jobs with a Fee Agreed $2.53M $3.95M +56.4%
Average Fee Agreed ($) $3 026 $4 519 50%
Interviews Confirmed 664 828 24.7%
Placements Confirmed 101 135 +34%
Gross Revenue (Recruitment Fees Billed) $314 000 $460 000 +47%
Net Revenue* $63 000 $92 000 +47%
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Share price and recent capital
$1.9m @10c
$7.7m @10c
$4m @10c
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Recent share price
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Placements per month
150
250
500
5,000
When
Mar ‘17
Jun ‘17
Dec ‘17
2019/20
Run-rate AnnualisedNet Revenue
$4.50m
$2.25m
$1.35m
$45m
Online$9bn(3%)
Milestones looking forward
10,0002020/21 $90m
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Onwards…
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