60% are existing. Ofcourse when u expand u need to identify new customers and China + and Bangladesh issue is a good opportunity for the company
Iâm just referring to a post on LinkedIn on the promoter of the company.
Apart from the decorated press coverage that he has, we must be cautious around the promoter, especially, when he is under Forbes 30 under 30 or so.
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This account was just created to write this post, it seems! Not a single LinkedIn connection of the author, no other posts, no likes, no comments and basically no engagement with the referenced post even!! Weird
I am not endorsing this company at all (I donât even hold it, neither plan to) but just stated my observations here. Relying on just these kinds of posts could also not be the most right thing to do imo⌠Moreover Vijay Kedia has >8% stake in the company pretty sure heâd have done some DD and not just relied on the announcements
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Please do not consider this as me being rude to your opinion. Iâm just posting this for everyoneâs benefit and knowledge. Have you read any of his books?
Hereâs another: Amazon.ca
For a book which claims to âcover issues and solutions for building and maintaining large questions, and focuses on issues of IT securityâ, each book is only 50 pages long. Now if you have any background in CS, youâd know itâs proposterous to even write the first chapter of an âIntroduction to Securityâ book in 50 pages.
Also, goes without saying that while I respect Mr. Kedia very highly, heâs not a technical person, and to be very honest, hardly any innovative tech companies have originated in India to date.
Banking on the fact that we should all just trust Mr. Kediaâs DD over our own due diligence is a recipe for disaster, and quite frankly, against the spirit of this forum. By that logic, even Mr. Mohnish Pabrai was an investor in Satyam Computers. Look at how that turned out (in case youâre unaware, weirdly it turned out extremely well for Mr. Pabrai because he cashed out within 5% of the all time peak of the stock). Also, even with a 8% stake in the company, it is likely <1% of Mr. Kediaâs net-worth. Just my two cents. Sorry for this tirade, I wonât speak on this matter any further.
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No No infact thanks a lot for such insightful comment!
Although I donât have a background in CS, I never intended to convey that we should just invest in a company because any ace investor did so. And though I agree that a thorough DD and questioning is necessary for deeper insights I was just saying that the details around the Linkedin post shared prior to my comment did not seem very genuine to me (for the very reasons i mentioned in my prev comment).
Also just a quick glance at the book you shared revealed that the book is actually 193 page long as opposed to 50 pages you mentioned.
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Sorry Harsh Vijay I couldnât understand are u saying that this company is fake or the post of deepti is fake.
I totally agree that Vijay Kedia ji has invested since 7-8 years back and he might have invest small in this but I think the cybersecurity theme have big market and not much company I find in this sector. Though there are some cons with this company like high receivable and high pe but one can keep track since CS has huge TAM
If Iâm a bitter former employee looking to bash my employer Iâd create a fake account for this too.
Not saying this with certainty, but it is probable IMHO.
These are my personal views no buy sell recommendation.
Company: tac infosec
I had to rub my eyes and recheck the valuation of this company. 5cr revenue this quarter and the market cap is at 836cr. I donât understand what merit does the founder have according to his linkedin he has been doing this venture for 11 years and has been able to scale up only up till 5cr quarterly revenue. Fy24 revenue only 11cr that too major part is receivables. Risk is extremely high the company is being run by 8th STD. Fail has negligible revenue, bogus aspirations of reaching billion dollar revenue in 2025. A word of caution : New investors please be careful of investing in companies which are of this size and trading at such bizzare valuations.
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The Deeptiâs Linkedin post seemed illegitimate.
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What is the lot size for TAC Infosec @ CMP?
So just to correct here he was topper till 7th but dropped in 8th due to his interest in hacking and computer.
One More thing the guy without degree has made client like NPCI, Google and US govt. So donât think the degree is constraint now since now he can hire lot of educated guys as well.
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1200 shares and you have lock in around 9 lakhs for a company which made 11 crores in sales in FY 24 and had aspirations to be 1 billion USD by 2025 in 2020(Talk about aspirations and reality)
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Did a little bit of digging in about TAC Infosec:
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Topline of the company is 11.6Cr out of which 31 percent is employee cost which translates roughly to 3.7Cr. LinkedIn lists 210 people as its employees out of which around 80 of them are overseas, with the US forming a good portion of the overseas employees. How can one manage such a workforce in a technically niche domain with a sum of 3.7Cr? Bro is on a global noble mission so charity work naturally comes to the mix.
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Couldnât find a single techtalk from Trishneet Arora on the internet. I am from the same field(not cybersecurity or Infosec per se) and I find this surprising. He doesnât want to scare us mortals or rather bask in the glow of his unparalleled brilliance
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Their CTO has an experience of just 4 years, he was appointed the CTO just a few days back and, around the same time their CFO resigned. Investors would hope he is another prodigy in the making.
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Watched Mr.Aroraâs interview with Raj Shamani here: https://www.youtube.com/watch?v=JiNHP5ZwiaI
Tall Assertive but unsubstantiated Claims(TAC): -
He initially says he reported the ATM withdrawal scam and then later he says he helped the govt find those people. Does his own withdrawal there.
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Hard to believe the US government took help from a little known Indian ethical hacker, same with Google. Itâs like aliens are in the US and they dial Chacha Chowdary, Avengers etc canât help.(Fans please excuse the pun)
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Claims âAlmost every Indian Startup is his customerâ. Doesnât reflect in the topline though. Maybe he is returning the charity favour mentioned earlier.
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Claims his product is the highest priced in the entire market. According to McKinsey it will be more than a 200 Billion USD market by 2025 and eventually could present a $2 trillion opportunity. With such a huge TAM and having the highest priced product why is the revenue only 11Cr? Isnât that a joke by itself?
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In the interview, he says there will be a crash in the market Worldwide soon. I thought he was an infosec guy. Doesnât ascribe the crash to anything that has anything to do with economics but just his gut.
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Earlier in the interview he emphasises on how important data is, I think he even quotes the âData is the new oilâ, but then changes TAC in between and then delivers the most profound business gem: Business data se nahin chalta he, feeling se chaltha he. I have a feeling ki this business nahin chalega. I could be wrong, itâs just a feeling.
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The interview is full of rhetorics, there was not a single claim that can be verified. I will stop here commenting about the interview for the sake of brevity.
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A few days back I watched Joe Rogan talk to Ryan Montgomery(ethical hacker) watch it here;https://www.youtube.com/watch?v=3_tZ7i1j3Tg and contrast this with the earlier interview. Felt like comparing a toaster to a time machine.
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Read an article on their blog, this one here. Good details but the horseâs mouth is here. It looks like a rehash.
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There is not a single compliance certificate listed on the website. There is no pricing information either.
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Vijay Kedia is not listed in screener.in, maybe he has very less stake.
This also puts all the 35 under 35, 30 under 30, 40 under 40 in a bad light, even Raj Shamani. He has a host of these business awards but not a single techtalk or a tech certificate to show.
The current CTO has a degree from Institute of Information Security and they may actually âhaveâ a product. I could not find any information on the web that can be used to ascertain that Mr.Trishneet Arora is what he claims or about his product. Things donât add up for me. I am from Bangalore and we had a drone guy named Prathap who made tall claims but was never able to substantiate, Mr.Arora may actually be the foremost expert but I didnât find enough reason to believe.
P.S: Forgot to add this. I have a good idea about how NPCI secures UPI transactions, still I asked somebody knows all the intricate details about UPI implementation. He said his claim is like saying - "Since I own NIFTY index fund I am driving Indiaâs economy forward.
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looks bogus to me. I would have shorted this company if there was a way.
Disc: My personal opinion. Not invested, not a buy/sell reco. I am still a newbie.
Spot on!
as you are from the same field, I have one lehman question for you. Yesterday one of our member has mentioned in his comment about TAC infose that cybersecurity is a big theme and there are not much company he found in this sector. Is it so? I wonder it is otherwise
Vijay Kedia is listed under Public. He has around 10% stake.
Hari
I am not exactly from the same field but I head the engineerng for a startup so I have some familiarity with infosec.
About other Indian companies, with no comment about their competencies:
Their website clearly mentions the compliance certificates and pricing. The TAC website has security compliance âpostersâ! Hilarious. It has nothing to do with actual security compliance.
The founding team of the above startup have another startup called ThermoCop.
I have worked with companies that do Penetration Testing etc, their founders are usually highly technical and usually post a lot of relevant technical content on the web which lends to their credibility. They also participate in many hacking competitions. But here our poster boy only has himself to compete with.
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Yes, I am invested and biased and just want to know from fellow members if they have idea and can give more light on it. As per my openion valuation is currently high but growth potential is also high and if company achieve the guided 10k clients in 2 years and the. Forward pe isam around 15
10k clients in 2 years. The CEO said every Indian startup is their client and then they also have the Googles and US govt kind of clients. They should already have 10K clients. Dis you not watch the interview? Watch it.
Also would appreciate if you can throw some light on all the points I mentioned in my reply, asking you since you seem to have the highest conviction among us here and you are a CA to boot.
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