デジタルガレージ（4819）
Contents
1.2.
3. BPO
4. E
5. du Cd
6. DC P Shared i esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 4819 SR Research Report 2015 3 4 DG
7. Twitter J U AT ZOPB i cuw
8. SR 2011 6 2012 6
9. Open Network Lab a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4
10. 6 790 4 4 3 421 ADA 4 4 316 ANDA 55 296 E EO econtext Asia Limited E IPO
11. 2 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 2 3 Twitter
12. 1 8 000 66 79 33 39 2013 8 1 a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 2013 5 2013 5 10
13. a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 7 083 ADA 7 3 590 ADA 27 49 7 econtext Asia to IPO E EO
14. 2 1 2 NC Lean Startup 2 e Neo Innovation Singapore Pte Ltd Twitter
15. API 5 E
16. IPO 020 Online to Offline CRM
17. 30 3 670 19 6 245 E 80 296018 sh ared esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4
18. oes oos BOSTON NEWYORK y amp 4 T pnt INDIA ue HONG KONG INDONESIA MONETIZATION OPTIMIZATION INNOVATION e e M amp A e e e e e e Re neo Digital G econtext RZ igital Garage ASIA R betaworks Open Network Lab MIT Media Lab m SR
19. EC 1 2 UC 2 500 2012 5 2012 5 16 Twitter Site Streams API BI GARAGE CGMM Twitter Twitter API Application Programming Interface Site Streams
20. 1 LAWSON err Eee oe ID 2 vsa en EB 9 maeme a E overzd edht 4 Bu AS 5 Pay easy Pa thuM AF msn i e 6 ID T 75s amp e7n423 Pp e context BLOSS M reram INNER T A Om 9 WAN n BF 10 Edy DA F ber m dr 1 O ysaHeRE LAWSON 2 gpa ua LAWSON ID L SR a Shared search http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 EC e context AS 1
21. E http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4
22. ZOA Twitter C SR http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4
23. I ANTON 5 cumaripn M Lean Startup NEO NEW CONTEXT II mec MARKETING Web R DG amp lbex 3 BIGARAGE gt Web gt NaviPlus gt O20 PAYMENT e econtext Qecontext Dveritrans gt SR
24. 2013 6 SR 2013 6 34 420 020 GE 2013 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 4
25. 5 Share 2011 H SIPS Participate a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4
26. JCB http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 ME NM MM 3 e context rz2n i43 T E kh zem HQ econtext Asia Limited le econtext ASIA NaviPlus eCUR TS i F nm ng HER Q econtext 7 veritrans FEHER PT Midtran Midtrans SR
27. 3 6 2013 6 2012 4 1 2013 6 a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 30 15 2 9 2013 6 2 2012 11 2012 11 29 New Context
28. 2013 11 sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 2013 6 2013 8 13 2013 6 2013 6
29. SR Inc SR Inc Shared Researcn SR Inc SR Inc SR Inc
30. DG 2 Wikipedia Jimmy Wales Wikia Wikia Inc Wikia App Works DG
31. Attention Interest Search Action Share Search Yahoo I
32. E e Neo Innovation Inc Neo Innovation Singapore Pte Ltd N RABI Garage I CGM IH Neo Innovation Inc Neo Innovation Singapore Pte Ltd I
33. 3 2015 5 6696 34 Kodansha USA Inc amp FO Kodansha Advanced Media LLC 199681 EE E 0 5 2015 2 13 2015 6 2 2015 6 2 sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All
34. 2014 1 2014 1 31 HAMOLO H c DG PICROJ HAMOLO 2012 9 PiCRO 2014 1 5 000
35. Bi Garage BIG MINING a i sh ared esearch z http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 1 ua 48 19 SR Research Report 2015 3 4 3 149 152 7 423 A 222 DG IPO Betaworks Studio LLC
36. EC 600 8 2013 6 a sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 NaviPlus Nc Ee SEM SEOS EMO BIG DATA ES
37. NTT NTT EC 02O Online to Offline 2013 3 2013 3 29 econtext Asia Limited 1 8253 1 FEDRE CC TEEXEE 2
38. 3 HA 2015 6 EBITDA 100 2012 6 50 2015 6 2 17 887 14 59 1 739 114 1 3 464 105 3 3 507 145 99 2015 6 40 000 18 5 4 500 72 5 6 700 50 8 5 200 82 6
39. DG GR ITI DG BI GARAGE DG GR DG DG DG DG
40. 2006 6 2006 6 4 630 59 0 12 476 284 79 1 704 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 2007 6 4 862 39 0 17 339
41. SR MG SBS
42. 2014 11 DG 7 781 17 5 527 57 2 PC ROI
43. 2011 5 iPhone D Android Windows Mobile com 2010 11 E E Sh atrodi escar ch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved L 48 19 SR Research Report 2015 3 4
44. PV UU 1 Lean Startup a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 Lean UX Lean Startup
45. 32 exa CI 3 3 a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved SAV 48 19 SR Research Report 2015 3 4 776 EBJJEIROTISItED SEE S AIEA Eo 272 1 687 ADA 44 59 econtext Asia Limited 350 1 426 ADA 56 1 6 603 17 3 463 41 496
46. SNS SNS Facebook MySpace mixi GREE sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 WEB WEB SNS Q amp A
47. E 2011 E 1 1 400 1 120 000 2 GMO 990 2 41 617 3 939 3 GMO 32 000 4 SBI 400 4 22 000 5 329 5 UFJ 16 500 6 263 6 16 007 7 150 7 15 000 8 116 8 8 000 SR http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4
48. http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 Pivotal Labs Neo Innovation Inc Aft Neo Innovation 2012 1 Neo Innovation Singapore Pte Ltd IH Pivotal Labs Singapore Pte Ltd EdgeCase LLC EdgeCase Neo Innovation DG
49. 2014 1 7 EC Bina DG EC Bilna E http www bilna com PT Bilna CEO Ferry Tenka Bilna 2012 12 P amp G Nestle Danone 500 10 000 500 2013 12 2013 12 25
50. PCDA Plan Do Check Act 4 No 1 ROT DICKE K T o IE AX A A z DG amp lbex 5 per DG DMP Data Management Platform
51. 2005 3 2012 3 349 2012 3 7 444 1 300 2013 6 HK BI GARAGE 74 090 DG 100 e Digital Garage US Inc 10096 2011 7 e Neo Innovation Inc 100960 e econtext Asia Ltd 80 5 100 10096 EC ae
52. DoubleRecall 2012 3 DoubleRecall e DoubleRecall 2011 1 a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 80 Mentos Red Bull Nissan Renault Volvo Pfizer DoubleRecall
53. 2014 3 9 267 2 906 AA 72 64 72 48 42 B2B 4796 39 4 2014 6 3 74 796 65 9 72 79 47 29 3 4
54. IT Information Technology MT Marketing Technology FT Financial Technology 3 2013 6 AX 3 2014 6 1696 449 409 ORA 2012 8 2015 6
55. EBITDA 90 100 e SR 3 WO ISW Strengths Weaknesses a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 1 ua 4819 SR Research Report 2015 3 4 40 000 18 5 4 500 72 5 11 3 6 700 50 8 16 8 5 200 82 6 13 0 110 6 25
56. 2012 12 Ponta 5 000 Kiip Kiip Ponta 2012 12 6 2013 6 2 2013 6 2 13 800 11 000 ZFA 350 150 850 700 650 350 2013 6 2
57. 100 CGM 74 Neo Innovation 100 Neo Innovation Singapore 100 DG 100 Open Network Lab 70 2013 6 DG 100 Open Network Lab 70 Neo Innovation 100 Neo Innovation Singapore 100 CGM 74 econtext Asia 100 100 100 SR
58. 10 6 11 6 12 6 13 6 14 6 1 717 2 785 4 259 6 432 8 217 20 6 25 2 28 6 23 0 24 3 960 135 1 622 1 322 2 608 1 2 10 9 4 7 7 7 EBITDA 537 506 2 017 2 880 3 995 EBITDA 4 6 13 5 10 3 11 8 8 1 14 1 9 7 8 4 ROA 4 5 6 0 5 2 4 5 ROE 9 7 14 0 11 8 10 1 0 33 0 55 0 43 0 53 0 53 1 297 996 1 375 1 474 2 050 142 9 144 4 98 2 155 2 178 5 139 9 141 1 97 1 153 5 178 7 CF 0 38 0 01 0 13 0 13 0 00 15 0 19 3 6 8 30 2 32 2 CF 0 5 0 0 0 1 0 1 0 0 53 6 30 0 21 3 14 1 14 1 401 301 379 100 576 SR
59. SBI SBI SBI 10096 SBI
60. 2017 2012 FILT 1 5 66 12 9 DC E C Ei Pay 12 JKA 77 PAY
61. 3 2013 6 2014 6 2 2014 2 13 2014 6 BS 2 2014 1 20H 2014 6 2 2 15 622 ADA 12 890618 812 ADA 71 8 15 000 300
62. UX Ruby on Rails Ruby Github Scribd Groupon Shopify Basecamp Ruby on Rails http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 4819 03 6367 1111 1995 4 8H 17 HP http www garage co jp ja IR IR a sh ared KWeSGaT ch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved SR Research Report 2015 3 4 150 0022 3 5 7 DG JASDAQ 2000 12 14 6 IR IR 4819 SR Research Report 2015 3 4
63. CIWorks 2014 5 CIWorks 2014 4 24 E EC 16
64. 2 509 3 9 290 82 296 Neo Innovation Inc 2012 6 2012 8 13 2012 6 14 904 ADA 34 7 1 622 ANDA E 1 097 0 2 709 ADA 178 5 2 106 ADA E 133 8 1 2371
65. 0 0 0 161 741 100 0 13 000 a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 SBI 1997 2011 3 6 181 1 147 721 2011 3 7 194 3 248 2012 3 12 New Context Inc Lean Startu
66. 10 6 11 6 12 6 13 6 14 6 8 347 11 067 14 904 27 965 33 752 75 8 32 6 34 7 87 6 20 7 6 630 8 282 10 645 21 533 25 535 1 717 2 785 4 259 6 432 8 217 20 6 25 2 28 6 23 0 24 3 2 677 2 650 2 637 5 110 5 609 32 1 23 9 17 7 18 3 16 6 960 135 1 622 1 322 2 608 1097 0 18 5 97 2 1 2 10 9 4 7 7 7 617 926 1 216 2 180 2 307 548 866 1 004 1 361 1 741 113 88 128 423 473 457 973 2 709 3 079 4 442 178 5 13 6 44 3 8 8 18 2 11 0 13 2 49 58 63 1 305 631 1 775 72 237 168 38 21 48 410 1 510 1 887 0 9 5 0 16 2 35 8 37 5 2 208 901 2 106 2 716 2 847 133 8 28 9 4 8 8 1 14 1 9 7 8 4 SR
67. VeriTrans3G EC a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 OGXXEXSRU UADO I PMAXR PayPal EC 2013 11
68. CASH POST 1 5 1 2 3 URL 4 CASH POST 5 CASH POST 1 1 100 2 ROS CASH POST E EC
69. 3 86 DG717 Betaworks Studio LLC a i sh ared Mesearch http www sharedresearch jpD Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 2014 6 3 2014 5 14 2014 6 3 3 PO
70. AdTechonology 3 2014 6 140 3 40 322 ft 9 4 356 28 A 2 3 7 4751
71. 23 894 17 5 1 186 E 90 2 1 229 ADA 945 2 498 ADA 32 4 1 024 A 1 873 ADA 15 2 10 107 ADMA 9 3 878 ADA 15 8 EC 3 3 31 6 30
72. Digital Garage US Inc DGUS DGUS tR F Neo Innovation Inc Neo 11 1 Neo New Context Services Inc DGUS CEO CMO CTO New Co
73. DG NC Do 2 Lean Startup OQ Lean Startup Pivotal O Twitter Salesforce com Groupon
74. popinfo O02O G popinfo GPS Wi Fi NTT NTT NTT a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 020
75. 10 336 2011 6 1 769 2012 6 12 105 8 787 2011 6 6 169 2012 6 14 956 8 053 2011 6 2 870 2012 6 10 923 10 447 2011 6 9 824 2012 6 20 271 sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved SAV 48 19 SR Research Report 2015 3 4 2011 6 2011 8 11 2011 6 2011 8 2011 6 32 6 11 067 ADA 135 2010 6 960 973 ADA
76. a sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 4819 SR Research Report 2015 3 4 2015 6 14 6 15 6 i 2012 8 ES 33 751 40 000 5 475 7 500 RU UE a 14 822 12 500 13 454 20 000 2 608 6 500 1 645 3 500 854 1 500 1 201 3 000 4 442 9 000 2 847 6 200 EBITDA 6 607 10 000 SR 2015 6
77. econtext Asia Limited 2012 10 1990 1983 1993 1995 1996 infoseek WEB infoseek infoseek 1999 The Walt Disney
78. E 2012 12 2012 12 21 1 4324 2012 12 21 1 2 3 1
79. Weaknesses Microsoft Apple Google DNA a i sh ared Mesear
80. econtext Asia econtext Asia econtext Asia Scheme of Sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 Arrangement SOAI SOA
81. SR Inc SR Inc SR Inc 3 31 12 SAS 03 5834 8787 http www sharedresearch jp Email info sharedresearch p ji sh ared Mesearch z http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved
82. Twitter Site Streams CGMM Twitter Twitter Twitter e Site Streams Site Streams Twitter Site Streams API Twitter API ih S P P sh ared Mesearch http www sharedresearch jpD Copyright C Shared Research Inc All Rights Reserved 96 97 48 19 SR Research Report 2015 3 4
83. 1 4756 20 3 DG IT 1 3626 DG DG I Twitter Twitter NextDG SNS LinkedIn SV 48 19 SR Research Report 2015 3 4 2011 11 Memolane 2012 4 SBI 2012 9 EC
84. 3 31 6 30 9 econtext Asia Limited E RA AO 10 6 625 29 6 335 ADA 34 19
85. 500 Startups SV Angell 500 Startups http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 Digital Garage US Inc gt lt gt gt W lt gt New Context Service Inc Neo Innovation Inc Digital Garage US Inc Digital Garage Development LCC H gt y I mm SUA LL San Francisco Singapore SR Digital Garage US Inc DGUS 2011 7 2013 11 DGUS
86. 981 DG 4 425 15 854 5 451 2010 6 2009 6 DG 26 152 75 8 960 1 435 2 207 2011 6 a P sh ared Mesearch http www sharedresearch jpD Copyright C Shared Research Inc All Rights Reserved Shared i 4819 SR Research Report 2015 3 4
87. DSP E RERI EE E TITON EMERE EL o REER Do is 927 604 49 77 258 E373 FH Neo Innovation Inc 2013 9 3 878 ADA 2 906 67 64 67 43 42 B2B 51 696 39 4 2 2013 10 Moneytree Moneytree Pty Ltd
88. 1 CGMM Twitter Tweetmanager Site Streams Twitter CGMM HighlightCam
89. 2015 6 40 000 ADA 18 5 4 500 72 5 6 700 50 8 5 200 82 6 2014 20 2015 6 5 20 1 25 7 500 ADA 37 0 3 600 2 2 17 000 14 7 1 100 28 8 15 500 15 296018 ZA 1 450 ADA 20 7 2015 6
90. Lean Startup Sh ared hesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 New Context Services INCS 2013 11 DGUS PRR LB CEO CMO CTO New Context
91. 2013 9 30 1 200 235 596 47 119 200 1 100 2014 6 2013 8 13 1 1 000 5 2013 8 1 1 4324
92. 1 036 ADA 11 7 79 ADA 78 ADA 1 DG 90 87 DG 2 t
93. 1 4307 7 39 2014 9 004 E B2C E E 2012 E B2C EC http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 4819 SR Research Report 2015 3 4 3 1 2 896 B to C EC 2008 2009 2010 2011 2012 EC B to C 6 089 6 696 7 788 8 459 9 513 13 9 10 0 16 3 8 6 12 5 EC 1 8 2 1 2 5 2 8 3 1 SR
94. 906 708 3 464 ADA E 105 3 2 234 3 507 145 9 ON Shared esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 44 7 46 3906 38 7 31 1 51 7 E 38 0 67 5 50 1
95. 2014 6 1 2013 11 12 2014 6 1 7 273 37 0 86 ADA 51 473 183 4 389 ADA 82 3 5 34 19 E econtext Asia Limited
96. apro EC 209 Qe ac RAaL2a2 mmDpDu VAUNU XE SR 2013 econtext Asia 1 8253 EC O02O
97. 2 2014 12 a i sh ared Mesearch http www sharedresearch jpD Copyright C Shared Research Inc All Rights Reserved SR 48 19 SR Research Report 2015 3 4 F 14 6 15 6 15 623 18 129 33 752 17 887 22 113 40 000 12 8 28 4 20 7 14 5 18 5 12 128 13 406 25 535 13 151 3 494 4 122 8 217 4 736 12 2 42 3 27 8 35 5 22 4 26 0 24 3 26 5 2 682 2 927 5 609 2 997 17 2 16 1 16 6 16 8 812 1 796 2 608 1 739 2 761 4 500 71 8 111 4 97 2 114 1 53 7 72 5 5 2 9 9 7 7 9 7 12 5 11 3 1 687 2 755 4 442 3 464 3 236 6 700 44 5 44 2 44 3 105 3 17 4 50 8 10 8 15 2 13 2 19 4 14 6 16 8 1 426 1 421 2 847 3 507 1 693 5 200 56 1 21 1 4 8 145 9 19 1 82 6
98. 2012 1 18 1 Digital Garage US Inc New Context Inc NC 2 1 NC Pivotal Labs Singapore Pte Ltd Pivotal EdgeCase LLC EdgeCase NC NC a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4
99. X F OD ESIBEREB SE fb Neo Innovation Inc IH New Context Inc Digital Garage Development LLC Neo Innovation New Context Services Inc DGUS DGUS 2011 8 1 Pivotal Labs tt C Google Twitter DGUS
100. VeriTrans mPOS VeriTrans Air I cli 3 277 ADA 16 6 203 W 3 068 ADA 29 8 136 ADA 5 49018 a i sh ared esearch z http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 020 Online to Offline
101. 1 9984 JASDAQ 2428 1 2432 1 E
102. DG Neo Innovation Inc Neo Innovation Singapore Pte Ltd x x http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 BI GARAGE
103. E nli a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 4819 SR Research Report 2015 3 4 1 10 6 11 6 12 6 13 6 14 6 A FER 185 9 186 2 219 1 235 6 47 230 8 EPS 11 959 7 4 879 2 9 759 0 12 041 9 60 7 EPS 4 873 1 9 753 8 12 027 8 60 5 DPS 0 0 0 0 1 000 0 1 000 0 5 0 BPS 47 496 8 53 120 2 93 072 2 109 707 2 648 1 SR 2007 1 1 2 2009 6 HER 2012 6 2013 6
104. lt 3 B to BJ Business to Business B to C Business to Consumer C to C Consumer to Consumer Cs Sh ared esearch z http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4
105. 1 910 60 DoubleRecall e DoubleRecall Y Combinator Start Fund SV Angel FRE 1 8001 Mentor Equity TEEC Angel 2012 2 10
106. SnapDish 2011 5 1 81 60 150 2012 10 2012 10 15 a sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 Etk CRESTAT BSRESBITHUOUAZtEDG qdL criA o aveei
107. DGUS Digital Garage Development LLC 8 a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 1 ua 48 19 SR Research Report 2015 3 4 1 2 DGUS EdgeCase LLC New Context Inc 2012 2 9 2012 6 2 2012 6
108. 3 3 3 2013 8 40 10 DE 150 Open Network Space VC e ANYPERK Inc Ycombunator e AppSocially Inc
109. econtext Asia 759 SOA econtext Asia 2015 2 19
110. 27 964 ANA 87 6 1 322 ADA 18 59 1 361 499 3 078 ADA E 13 690181 1 131 2 715 ADA 28 9 Ei ONAE 940 ADA 398 2 EBITDA 5 900 ADA 98 9 14 412 ADA 285 9 1 303 ADMA 137 19018 E
111. 1 9747 2011 7 2012 7 4 1 Sh ared Mesearch http www sharedresearch jpD Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 2012 6 2012 6 12 1 8253 1 2651 EC 2012 6 UC
112. 3 EBITDA 100 13 6m 14 68 15 68 ER 7 53492048 P3RIALL A 74 UAR FH L0OABER EC E in mh 29 86 1 100 EJ veripnans BF KJ3 9vAFbEGBWEEPE ES A CE XH Il0OMPIE CELA RENE i 17 56 D 95 P 4g mp FERAH OIAR Rema 1 4 7 355 5 8 173 3 471 714 7nL 2 4507 HIBEIEAS EH ELA BADZmhERI KE Mimin amp D2 BmEHEZ S 14 616 D 5 661 P 6 369 hA 12 68 LLL SR http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 1995 TIT Information Technology MT Marketi
113. DG 1 1015 a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 2015 6 1 2014 11 11 2015 6 1 8 127 ADA 11 7 398 359 4 431 1 174 ADA 147 7 781 100 596
114. 2015 6 EBITDA 90 2015 6 EBITDA 100 100 2015 6 20 2 20 25 5 20 8 2 22 6 2015 6
115. Shared esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 5 2012 6 2014 6 2012 6 5 678 2 549 ADA 2014 6 fs 4 189 512 2010 6 2013 6 5 2012 6 2014 6 2012 6 8 245 A 2014 6
116. NCS Guardtime USA Inc Guardtime KSI Guardtime NCS KSI Open Network Lab 3328 1 2371 3 2010 4 2011 9 70 0
117. 6 371 5 252 1995 8 1996 10 infoseek infoseek Japan 1999 6 infoseek infoseek 2000 12 1996 12 1 2433 I amp S I amp SBBDO uL 1997 5
118. T E 3
119. 2000 5 E a P sh ared Mesearch http www sharedresearch jpD Copyright C Shared Research Inc All Rights Reserved 1 ua 48 19 SR Research Report 2000 12 2002 6 2003 1 2003 2 2004 12 2005 1 2005 7 2006 1 2006 1 2006 8 2007 4 2007 4 2008 10 2009 5 2009 6 2009 6 2009 8 2010 5 2010 6 2011 5 2011 6 2011 7 a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 2015 3 4 GR TIS JASDAQ 459 3
120. KLab J GCA 4 DIC TOKAI
121. 3 RIE C HEE econtext Asia 12 174 Fik 7 5 1 649 econtext Asia 2013 6 3 2013 3 H 12 Neo Innovation Inc Lean Startup Neo Innovation Lean Startup a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4
122. 10 6 11 6 12 6 13 6 14 6 EDM 11 000 10 600 13 800 25 000 32 000 jp Em Efi 8 347 11 067 14 904 27 965 33 752 24 1 4 4 8 0 11 9 5 5 300 250 1 350 1 650 1 800 960 135 1 622 1 322 2 608 20 1 19 9 44 9 800 500 2 500 2 800 3 500 457 973 2 709 3 079 4 442 94 5 8 4 10 0 26 9 500 310 2 100 1 700 2 100 2 208 901 2 106 2 716 2 847 190 7 0 3 59 8 35 6 SR 2006 6 2010 6 2009 6 2011 6 2012 6
123. 500startups a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 e WHLLL Inc 500startups APP WORKS App Works App Works 2 1 1 diuini
124. E econtext Asia Limited 20 30 Sendo Sendo Technology JSC 3 023 ADA 26 3 1 139 ADA 141 6 100 2
125. 1 9747 2006 BI GARAGE 2013 11 2014 4 com BIG MINING
126. 5 39 1 613 999 2 476 2008 6 2007 6 4 22 244 ANAIS 128 3 1 600 172 435 ADA 170 E175 117 ADARE 2 430 2009 6 DG I 5 084 12 8 DG
127. 2014 6 16 4496 400 a i sh ared esearch z http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 1 ua 4819 12 6 14 903 EE 34 7 2 610 BI SE EE 17 596 8 558 57 4 3 734 25 196 1 621 1 632 511 549 SR Enabling Platform H AR 13 6 27 964 87 6 2 509 3 9 9 0 11 043 29 0 39 5 14 412 286 0 5
128. Snapette a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 O20 DG Snapette Snapette Snapette 2012 3 2012 3 29 SBI 1 8473 SBI BA SBI
129. Citrus econtext Asia Limited 2013 11 Citrus Citrus Payment Solutions Pvt Ltd Citrus Payment Solutions Pte Ltd AF Citrus 460 4 7400 econtext ASIA Citrus EC EC a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved SAV 48 19 SR Research Report 2015 3 4 TIS EC econtext Asia Limited
130. share Spread 2 GMO 1 3769
131. 20 3 21 5 8 8 E 3 3 17 5 10 7 19 5 13 796 11 19 20 86 21 1290 20 49 com Pay
132. 2000 2000 JASDAQ 2002 2 2005 1 2007 4 DG 1 2008 Twitter SR a sh ared Mesearch http www
133. DG Open Network Lab 2012 6 lt Digital Garage US Inc amp FOX Neo Innovation Inc Lean Startup Neo Innovation Singapore Pte Ltd IH Pivotal Labs Singapore Pte Ltd EdgeCase LLC 2013 DG717 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Re
134. SR 1 2 3 3 1 EC EC EC
135. 2 econtext Asia 16 232 Tk 10 2 199 econtext Asia 2013 6 3 2013 2 4 2013 6 2 2013 6 2 13 840 13 800 ZFA 470 350 1 150 850 a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Resea
136. EC a i sh ared esearch z http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 1 ua 48 19 SR Research Report 2015 3 4 3 31 6 30 15 EC VeriTrans Air Direct VeriTrans mPOS N 14 822
137. CGM BI Garage 2 394 ADA 219 9 471 A 202 ANMA DG IPO Neo Innovation Inc New Context Services Inc 2013 12 11 118 2 906 A 69 64 69 45 42 B2B
138. 125 1 2 96 3 59 4 4 875 59 6 838 2013 12 19 2013 12 2 DG 2013 11 2013
139. O2O 24 496 new EYJ a AnyPerk Inc a 3 796 1 B2B Goocoatch 18 3 AMYPERK r RT IERIE T ye 14 6 X 2014 F 12 1 5 SR Google PayPal Twitter SV Angel SV Angel
140. 5096 39 4 Sh ared esearch z http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 2013 11 2013 6
141. 2012 8 2015 6 3 KEDR ELE TORA EBITDA Earnings before interest taxes depreciation and amortization EBITDA 2015 6 EBITDA 100 2012 6 50 2014 6 2015 6 EBITDA 90 100
142. 1 Chartbeat Chartbeat Inc Chartbeat 2014 2 Betaworks Studio LLC Chartbeat Betaworks Chartbeat App Works App Works Chartbeat Betaworks SA 12 6 AM 13 6 AM 14 6 AM SEHH NNNM UM SEFE SR
143. 2012 9 E econtext Asia Limited E 3 31 6 30 2012 4 1 2013 6 30 15 11 043 29 09 472 7 596 a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4
144. 21 13 34 2011 6 2012 6 SBI 2012 6 2013 6 7 524 2011 6 4 785 2012 6 12 308 3 227 2011 6 4 351 2012 6 7 578 992 2011 6 912 2012 6 1 904 2 677 2011 6 0 2012 6 2 677
145. com E E CASH POST 2010 4 100 2011 6 E
146. DG 9 JKP TI EIAAM 4 7000 SR http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 2000 1 2651 GR TIS 1 3626 1 8058 2008 10 2012 10 E
147. 2013 10H 1 1 200 10 6 11 6 12 6 13 6 14 6 1 5 163 132 2 542 3 212 35 2 1 234 165 9 411 1 515 5 155 FCF 1 2 3 930 33 6 869 4 726 5 190 3 295 568 15 273 1 817 11 261 CA 423 370 396 1 557 1 387 B 357 32 829 1 936 816 C 401 301 379 100 576 FCF NI A B C 1 740 1 540 1 295 2 238 2 842 SR 5 2010 6 2014 6 2010 6 2014 6
148. 1 4324 R 4788 1 9747 2006 CGM BI Garage BI Business Intelligence 2013 11 1 DSP 2 CRM DSP Demand Side Platform
149. econtext Asia Lmited E econtext Asia Liited econtext Asia 2013 12 Mii ciu E econtext Asia E econtext Asia econtext Asia 9 E
150. 2014 6 2014 8 H 13 2014 6 2014 6 IPO ROI 33 752 ADMA 20 7 2 608 97 290 1 741 4 442 ADA 44 3 3 econtext Asia Limited 374 2 847 ADA 4 8 UE 2014 6 2014 6
151. UP O2O Online to Offline AdTechonology 1 4324 2013 8 BT GARAGE BI GARAGE 4788
152. 2014 6 a P Shared esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 5 4819 SR Research Report 2015 3 4 2014F6AR 2014 6 twitter Media Do 2013 11 NYSE 2013 11 TSEM 19 4 4 755 DHaseesran 63 4 843 HHA 2014 12 TSEM 2014 12 TSEM 5 455 s 87 10 053 Note AH mm CN 3 Quo 4 0 7 AdStage Inc Lag ni aee ap lS Ridge
153. Neo Lean Fund Lean Startup Neo Innovation Eric Ries Neo Innovation 80 Neo Lean Fund 2013 2 2013 2 H 27 econtext Asia Limited 1 8316 1
154. econtext Asia Limited 2012 9 E 2012 7 2012 7 19 9cool 9cool
155. esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 4819 SR Research Report 2015 3 4 10 6 11 6 12 6 13 6 14 6 4 800 4 785 12 308 15 329 24 295 8 3 155 2 501 3 405 3 768 889 324 912 1 904 2 641 8 064 2 239 1 466 2 480 2 689 3 659 79 70 36 18 21 3 413 4 351 7 578 9 037 8 597 220 259 294 355 69 14 208 14 345 28 005 33 837 45 455 430 377 913 2 039 2 159 2 504 3 306 4 300 5 521 10 644 2 677 3 103 3 619 2 819 3 596 7 341 9 041 14 808 1 946 1 769 12 105 9 968 7 355 2 249 2 103 13 080 11 094 8 588 5 498 6 076 21 333 22 173 25 554 19 706 20 421 49 339 56 011 71 010 1 021 541 1 141 1 232 1 630 2 809 2 519 10 740 305 3 691 5 743 6 169 14 956 18 230 16 434 367 705 1 669 2 035 3 706 9 941 9 933 28 506 21 802 25 461 670 351 183 6 800 8 841 265 241 173 150 218 936 592 356 6 950 9 059
156. 1 1 000 2012 1 2012 1 27 Intercom Inc DG CRM Customer Relationship Management Intercom Twitter 500 Startups Intercom 100 Ds Intercom CRM Web
157. E 2014 12 PC IT SR E 2 AIDMA AISAS Twitter Facebook mixi SIPS amp BN Desire Memory Action Search Action Share 3ER AIDMA 1920
158. 8 qs 8 ro E 17 us ui 17 SW Strengths Weaknesses Mfr mener 40 np ra 9 i oa Em 42 ii 49 182509 1 a uetueneuaemdetemividumcu aid ex MMEER MD ER PIE MU 51 a O t 51 lcg MT 62 SO 65 2 aL G 67 68 BB 68 nd dia A i EE E A E 71 puc 92 pic Hs 93 ud M 93 PI 93 ui v H O 94 i 94 coL P TP 98 P sh ared Scar ch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 1995
159. SR GA 12 6 13 6 HB 14 6 AH 25 1 51 5 39 9 1 303 1 201 SEFER 14 7 SR 2012 4 SBI 2012 9 E http www sharedresearch jp Cop
160. a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 Twitter Twitter Twitter New Context Inc 2 530 ADA 114 4 1 856 169 9 2012 6
161. 19 1 22 4 21 8 24 3 23 0 26 5 1 306 2 682 4 033 5 609 1 475 2 997 18 6 1 6 5 3 9 8 12 9 11 7 18 0 17 2 16 9 16 6 18 2 16 8 87 812 1 187 2 608 398 1 739 38 7 4 500 71 8 90 2 97 2 359 4 114 1 72 5 1 2 5 2 5 0 7 7 4 9 9 7 11 3 474 1 687 2 498 4 442 1 174 3 464 51 7 6 700 183 4 44 5 32 4 44 3 147 7 105 3 50 8 6 5 10 8 10 5 13 2 14 4 19 4 16 8 389 1 426 1 873 2 847 781 3 507 67 5 5 200 82 3 56 1 15 2 4 8 100 5 145 9 82 6 5 4 9 1 7 8 8 4 9 6 19 6 13 0 SR 2015 6 2 2 17 887 14 5 1 739 ANA 114 1
162. 10 877 10 526 28 862 28 752 34 520 1 836 1 872 6 017 7 330 7 399 5 522 5 558 9 703 11 016 10 817 1 498 2 399 4 505 7 003 9 616 8 830 9 896 20 477 27 259 36 490 1 297 996 1 375 1 474 2 050 ATI SR 3 480 2 870 10 923 7 105 12 532 1 320 1 914 1 385 8 224 11 763 SR 2014 6 HER 71 010 4 51 303 4 2012 6 2014 6 HER 2012 6 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Researc
163. aucfan com 2001 50 10 2 2012 10 3 PT MIDTRANS EC VveriTrans Indonesia 2012 9 2012 9 11 Fablic CES Uc CE U7z DG Fablic Fablic Open Network Lab Seed Accelerator 4 2012 1 3
164. 2012 1 2 Lean Startup Open Network Lab 3 co working space Digital Garage US Inc
165. 457 901 A 2 208 1 2371 C 9 253 22 9 635 321 1 e PRSP ikU E 634 21 9 21
166. 4 27 660 A 4 2012 6 2012 6 4 145 4 145 2013 6 EDS 1 313 2014 6 econtext Asia 4 438 e 2 683
167. DSP CRM m u A Im gt f BILGARAGE NaviPlus 71 text com Q 25 5 SR DG amp Ibex BI GARAGE a P Shared esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 3 DG amp Ibex O20O Web BI Garage ft EC EEEF K O SREE 3 2008 DG
168. HighlightCam HighlightCam DG HighlightCam HighlightCam HighlightCam HighlightCam HighlightCam 1 9437 NTT NTT 2012 Android Xi 11 2012 4 2012 4 19 Snapette
169. IT TIS EC TIS IT econtext ASIA 7 EC EC 2013 12 6 econtext Asia Limited
170. 34 2 855 ADA 80 7 ROI BI Garage BIG MINING 5 475 ADA 118 2 1 646 E175 467 6 DG TPO
171. 11 063 ADA 24 6 1 024 55 4 ik 199 49 519 459 2 210 29 1 500 27 7 980 209 27 6 297 2013 6 1 310 ADA 29 7 158 2011 6 243
172. EC Sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 2014 3 2014 3 27 O20 020 Lite 1 3098 1 300 020
173. 12 EC EC VeriTrans Air Direct 3 3 4 5 2 10 637 34 0 644 111 19
174. 10 HAMOLO 2014 1 20 2014 6 2 3881 2014 6 2 15 600 15 000 AAA EM 750 ADA 300 1 600 ADA 350 a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 1 300 ADA 100 AAM 1 2 econtext Asia Limited 3 2
175. Pivotal Labs 2010 10 EdgeCase Ruby on Rails GAP 2006 20 10 AB 14 31 6 99 3 84 3 33 THE BANK OF NEW YORK MELLON SA NV BNY GCM CLIENT ACCT JP RD LMGC 3 22 TIS 3 14 133524 3 02 MSIP CLIENT SECURITIES 2 17 1 81 505041 1 49 2014 6
176. 11 29 3328 Sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 E 2013 12 25 9 600 1 82 200 789 120 000 2013 11 1
177. 2012 4 Fril Fril 8 000 2013 3 50 2012 8 2012 8 13 2012 10 1 a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved SAV 48 19 SR Research Report 2015 3 4
178. 2013 6 2013 4 2013 4 26 econtext Asia Limited econtext Asia 3 246 2 0 439 econtext Asia 2013 6 4 2013 4 4 1 9613
179. SH Research Report 2015 3 4 4819 sr_inquiriesQsharedresearch jp 1 48 19 SR Research Report 2015 3 4 SS 3 a 40 10 2 T PR 4 Ibarlgnyc C 5 0c M 5 Dyp
180. 2013 Neo Innovation Inc 2 2013 6 3 HQ 7727 HQ HQ 3 DG Lean Gl bal 3 opHo ms CES EDEP HOQ HO HQ econtext E Digital Garage Z BEEK O SREE http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 SW Strengths Weaknesses Strengths
181. 08 6 09 6 10 6 11 6 12 6 39 583 34 499 8 347 11 067 14 904 128 3 12 8 75 8 32 6 34 7 32 087 24 348 1 527 8 877 11 063 24 1 69 1 17 9 24 6 81 1 70 6 90 2 80 2 74 2 7 110 9 970 812 1 010 1 310 40 2 91 9 24 4 29 7 180 28 9 9 7 9 1 88 386 180 7 1 180 2 531 53 3 96 0 16333 3 114 4 10 05 0 1 10 7 17 0 172 981 960 135 1 622 1 147 527 151 659 1024 1 422 3 542 108 243 159 1 595 884 144 688 1 857 SR http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 4819 SR Research Report 2015 3 4 2012 6
182. http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 CEO 1959 1983 1994 d 1995 CEO CEO 1966 3 1994 1995
183. 2014 11 20 2014 12 18H 2015 1 16 2014 10 2014 10 29 DG 4 Fleksy Fleksy Fleksy 2013 12 Android Flesky 200 iOS8 iOS hh Flesky 25 DAT App Store 1 a sh ared Mesearch http www sharedresearch jp Copyright C Shared
184. 4 0 1 3 1 7 7 1 7 0 6 8 6 7 6 5 288 1 264 0 255 0 236 7 228 9 18 796 8 4 3 4 7 2 3 3 4 9 4 5 4 5 4 0 3 8 608 5 592 0 571 2 597 5 619 6 8 0 2 7 3 5 4 690 3 7 SR Shared esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 4819 SR Research Report 2015 3 4 4 2010 2011 2012 1 347 9 350 0 351 4 353 1 7 4 0 6 0 4 0 5 172 8 161 4 161 4 151 5 5 7 6 6 0 0 6 1 49 7 46 1 45 9 42 9 28 7 33 0 31 9 35 2 7 7 15 0 3 3 10 3 8 290 9 4 9 1 10 0 27 8 23 3 24 0 27 1 6 9906
185. Neo Innovation New Context Inc Neo Innovation Inc Neo Innovation 2012 3 EdgeCase Pivotal Labs Cubox tt TUT Proof tt 80 2012 11 EdgeCase Pivotal Labs Cubox Ruby on Rails Proof Lean Startup Lean UX 2012 11 19 DG iPhone Android
186. Salesforce com Groupon Pivotal Labs 2010 e EdgeCase Ruby on Rails GAP 2006 Digital Garage Development LLC itin 8 1 2 2013 DGUS Neo Innovation
187. 16 2 3 0 12 9 8 090 6 790 6 8 7 7 16 0 18 6 16 6 16 0 9 1 16 3 10 8 3 6 4 6 5 3 4 7 4 5 102 6 113 7 117 5 123 4 19 796 10 896 3 396 5 0 29 5 32 5 33 4 34 9 PC 77 4 81 7 7 1 72 8 14 5 5 6 5 6 5 6 22 290 23 390 21 9906 20 690 25 2 32 0 40 4 50 6 39 2 27 0 26 3 25 2 296 9 190 11 590 14 390 DY SR SR
188. Attention Interest AISAS 2004 Attention Interest SIPS 2011 Sympathy Identify Participate Share amp Spread amp SR AIDMA TV CM P Shared esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4
189. PSI Japan infoseek 2002 100 2012 6 New York Times Massachusetts Institute of Technology Media Lab 2014 6 487 238 35 6 559 4 4 IR IR IR a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 1 ua 48 19 SR Research Report 2015 3 4
190. 0 8 347 11 067 14 904 27 965 33 752 75 8 32 6 34 7 87 6 20 7 1 717 2 785 4 259 6 432 8 217 86 2 62 2 52 9 51 0 27 8 20 6 25 2 28 6 23 0 24 3 960 135 1 622 1 322 2 608 1097 0 18 5 97 2 1 2 10 9 4 7 7 7 457 973 2 709 3 079 4 442 178 5 13 6 44 3 8 8 18 2 11 0 13 2 2 208 901 2 106 2 716 2 847 133 8 28 9 4 8 8 1 14 1 9 7 8 4 186 186 219 236 47 231 EPS 11 959 7 4 879 2 9 759 0 12 041 9 60 7 EPS 4 873 1 9 753 8 12 027 8 60 5 DPS 0 0 0 0 1 000 0 1 000 0 5 0 BPS 47 496 8 53 120 2 93 072 2 109 707 2 648 1 4 800 4 785 12 308 15 329 24 295 324 912 1 904 2 641 8 064 3 413 4 351 7 578 9 037 8 597 14 208 14 345 28 005 33 837 45 455 430 377 913 2 039 2 159 2 819 3 596 7 341 9 041 14 808 2 249 2 103 13 080 11 094 8 588 19 706 20 421 49 339 56 011 71 010 1 021 541 1 141 1 232 1 630 2 809 2 519 10 740 305 3 691 5 743 6 169 14 956 18 230 16 434 9 941 9 933 28
191. 159 004 ASDAO 3 a i sh ared Mesearch http www sharedresearch jpD Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 4 939 6 7 439 6 16 500 2 624 2013 1 11 ASRR 1 200 2013 4 2014 6 2 2 411 2013 4 2015 6 e C 7 53 2012 12 20 219 087 7 000 2 2012 12 13 Kip BI GARAGE Kiip Inc Kiip
192. 20 83 com com PC EC f amp com a i sh ared esearch z http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 33 3 3490 e 2012 6
193. 27 C 105 5 144 99 126 99 135 696 2013 6 2014 6 30 2 4 13 454 ADA 6 6 1 201 101 7 8
194. a Sh ared GYcsea ch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved a 48 19 SR Research Report 2015 3 4 PDCA
195. esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved L 48 19 SR Research Report 2015 3 4 2009 2010 2011 2012 2013 5 922 2 5 842 7 5 709 6 5 891 3 5 976 2 11 5 1 3 2 3 3 2 1 4 TLE 1 713 9 1 732 1 1 723 7 1775 7 1 791 3 10 2 1 1 0 5 3 0 0 9 28 9 29 6 30 2 30 1 30 0 673 9 639 6 599 0 624 2 617 0 18 696 5 1 6 3 4 290 1 2 11 490 10 996 10 596 10 696 10 390 303 4 273 3 254 2 255 1 249 9 25 696 9 996 7 0 0 4 2 0 5 1 4 7 4 5 4 3 4 290 137 0 129 9 124 7 124 6 124 3 11 696 5 2 4 0 0 1 0 2 2 3 2 2 2 2 2 1 2 1 706 9 774 7 806 2 868 0 938 1 1 290 9 6 4 1 7 7 8 1 11 990 13 390 14 190 14 790 15 7 321 8 309 5 288 5 299 5 307 1 13 296 3 8 6 8 3 8 2 5 5 4 5 3 5 1 5 1 5 1 204 5 192 2 190 0 197 5 200 4 18 096 6 096 1 196 3 996 1 5 3 5 3 3 3 3 3 4 3 4 544 4 527 9 506 1 516 5 510 3 11 696 3 096 4 190 2 196 1 2 9 2 9 0 8 9 8 8 8 5 DM 419 8 407 5 391 0 396 0 389 3 5 2 2 9
196. 1 5 1 322 290 473 1 303 e commerce c Medi Portal Search b uu Site M ocial Media LEA n 19952000 2000 Advertising amp DG amp Ibex ly gt c BIGARAGE n ASIA Qecontext Zveritrans e E 2008 Payment econtext HKEx 1390 Enabling Platform 2 SR SR Research Report 14 6 33 752 20 7 5 475 118 2 16 2 14 822 34 2 43 9 13 454 6 6 39 9 2 608 1 646 854 1 201 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 2015 3 4 4819 SR Research Report 2015 3 4 3 2013 6 2012 4 2012 6
197. 506 21 802 25 461 670 351 183 6 800 8 841 936 592 356 6 950 9 059 10 877 10 526 28 862 28 752 34 520 8 830 9 896 20 477 27 259 36 490 3 480 2 870 10 923 7 105 12 532 5 163 132 2 542 3 212 35 1 234 165 9 411 1 515 5 155 3 295 568 15 273 1 817 11 261 ROA 4 5 6 0 5 2 4 5 ROE 9 7 14 0 11 8 10 1 44 5 48 1 41 1 45 9 42 9 SR 2013 10 1 1 200 http www sharedresearch jp FH o Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 2015 3 4 2015 2 H 19
198. 9 2010 6 108 Twitter 2011 5 Twitter 2011 6 1 452 Bx 1 180 2010 6 7 688 2010 6 144 Sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 4819 SR Research Report 2015 3 4
199. Research Inc All Rights Reserved SAV 48 19 SR Research Report 2015 3 4 2014 6 2014 6 27 2014 6 33 600 AJH 32 000 EUM 2 450 1 800 f iTi 4 300 3 500 2 750 2 100 EPS 58 59 44 74 IPO ROI 2014 4 2014 4 28 CIWorks
200. Rights Reserved 48 19 SR Research Report 2015 3 4 2015 1 30 2015 6 2015 6 e 4 000 450 670 520 400 e EPS 110 63 85 11 e DPS 25 00 7 00 2014 12 19 20 2 18 20 2015 6 HHO DPS 5 20 25 3 amp S
201. arch Report 2015 3 4 1 FTA JF al B P P ae e EE EE ae be e e e de Ko o c9 OS eS Q e d OQ cQ QU CN SN SS QD AN PP PP PW SR 2013 PC 83 2013 9 381 7 203 2 178 2004 2006 2009 15 79 4 Shared r
202. ch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 1 ua 48 19 SR Research Report 2015 3 4 SR SR http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 4819 SR Rese
203. h Report 2015 3 4 28 917 75 2014 6 econtext Asia 2014 6 34 520 4 23 643 2011 3 2013 6 2012 6 2014 6 2012 6 8 053 2013 6 3 818 2014 6 5 427 2014 6 12 532 2010 3 9 052 2014 6 36 490
204. h atrodi escar ch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved z 48 19 SR Research Report 2015 3 4 14 6 15 6 2Q 46 KI 7 213 8 350 8 271 9 857 8 127 9 760 37 0 2 2 27 6 29 1 11 7 16 9 1 393 2 102 1 725 2 997 1 873 2 863 32 6 1 9 28 6 51 6 34 5 36 2 19 1 25 2 20 9 30 4 23 0 29 3 1 306 1 376 1 351 1 576 1 475 1 522 18 6 10 6 13 5 23 3 12 9 10 6 18 0 16 5 16 3 16 0 18 2 15 6 87 726 374 1 421 398 1 341 38 5 147 4 103 6 359 4 84 8 1 2 8 7 4 5 14 4 4 9 13 7 474 1 214 811 1 944 1 174 2 291 183 4 21 3 12 7 63 1 147 7 88 7 6 5 14 5 9 8 19 7 14 4 23 5 389 1 037 447 974 781 2 121 82 3 48 0 65 5 92 0 100 5 163 0 5 4 12 4 5 4 9 9 9 6 27 9 1Q Tel 3 1 7 273 15 623 23 894 33 752 8 127 17 887 44 7 40 000 37 0 12 8 17 5 20 7 11 7 14 5 18 5 1 393 3 494 5 220 8 217 1 873 4 736 32 6 12 2 17 2 27 8 34 5 35 5
205. http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 12 6 AM 13 6 AM 14 6 AM 2 610 2 509 5 475 17 5 16 2 SEHH Lem w 1 646 62 596 11 696 30 196 SR DG Digital Garage US Inc Open Network Lab 1 2
206. nfoseek Google tto Google 2008 Facebook Facebook SNS facebook 2010 3 Twitter C e
207. ng Technology FT Financial Technology 3 Do p
208. ntext 2013 10 2013 10 15 DG Moneytree MONEY TREE PTY LTD Moneytree a i sh ared Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 MONEY TREE iPad Web Moneytree MONEY TREE 2013 8 2013 8 30
209. p Eric Ries New Context Inc Kit NC Ries Lean Startup NC 2012 2 2012 2 23 DoubleRecall DoubleRecall DoubleRecall tt DG DoubleRecall DoubleRecall DoubleRecall s
210. port 2015 3 4 7 DG INCUBATION Media Lab Fund Lean Global v ej Open Network Lab http onlab jp SR DG DG DG
211. rch Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 900 650 2013 6 27 000 25 000 1 650 2 800 1 700 2 1 2012 E 2 3 1 2 15
212. sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 amp 2014 11 2014 F 11 19 2014 11 19 LS CO HBEH 2012 44 688 000 F 19 9790 NE YO B i E 2 000 000 0 89906
213. yright C Shared Research Inc All Rights Reserved 48 19 SR Research Report 2015 3 4 econtext Asia Limited 2012 12 econtext Asia TPO O20 ys Japan OX Asia e e EC e EC gt M amp A e amp gt e EC i e EC e EC gt JW N e MV
Download Pdf Manuals
Related Search