In the spirit of reconciliation Sohn Hearts & Minds acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.

Sohn: Megaport ‘the most exciting tech adventure of this decade’

Alex Gluyas
AFR
 • 
Dec 3, 2021

Firetrail’s Eleanor Swanson believes Megaport is currently one of the best stories on the sharemarket, and has the potential to join the ranks of Australian-founded technology companies such as Atlassian and Afterpay.

Unveiling the Bevan Slattery-backed company as her top pick at the 2021 Sohn Hearts & Minds Conference, Swanson says Megaport is solving the connection issues that have plagued businesses around the world, and by doing so, has brought the telco industry into the 21st century.

“Between the years 2000 and 2013, global internet traffic jumped 600-fold. The staggering increase in data traffic caused the customer experience on telco networks to plummet from average to abysmal,” Swanson says.

“The Megaport network is fast, flexible, and a fraction of the cost of traditional telco networks. The Megaport network is the best network, as connections go live in minutes, not months, it’s a pay-as-you-go model, and you can scale up or down as you need.”

The loyalty of Megaport’s customer base adds to the company’s appeal, with Firetrail expecting customer spend to grow at 30 per cent a year.

Megaport’s ability to innovate has enabled it to double the size of its addressable market from $7 billion to $14 billion over the past 12 months. The company operates in more than 700 locations, while its closest competitor is limited to 200.

Megaport has also created what Swanson describes as a “sales force army”, having expanded its sales reps from just 40 at the start of this year to 40,000.

“[Megaport] is now on the precipice of greatness, and has the potential to grow into one of the largest telecommunication companies globally,” Swanson says.

While the stock is currently around $20, Swanson says it can double to more than $40 a share at a market capitalisation of more than $6 billion by the end of 2022.

This article was originally posted by The AFR here.

Licensed by Copyright Agency. You must not copy this work without permission.

Further Reading

120
speakers
180
partnerships
5900
attendees
+$30M
DONATED