Blackwells Capital Activist Presentation Deck
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Amazon becomes the category leader in digital health & wellness
Immediate ability to bundle with 200 million Prime Members
Gains significant customer data edge to use for future consumer targeting across
Amazon ecosystem
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Through its preexisting health, wellness, content, and lifestyle segments, Amazon
has a robust opportunity to cross-sell and bundle content and offerings such as:
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POTENTIAL STRATEGIC ACQUIRERS
AMAZON
Amazon would gain significant presence in digital health & wellness globally and
obtain further data about its customers to monetize in a variety of ways
Prime Gaming: Creating games and game-like content for workouts (like controlling
characters and scoring points by using your Tread)
Amazon Fresh: Integrated meal plans, diets, and nutrition goals
Prime Video: New exercise content combined with ability to watch Prime Video content
and MGM content on the bike
amazon pharmacy
Strategically Defensive: Prevents other big tech / health and wellness competitors
from gaining trophy subscription fitness asset
WHOLE
FOODS
MARKET
BW BLACKWELLS CAPITAL
twitch halo prime video prime gaming amazon care
fresh
Company Overview¹
Market Cap ($M)
Enterprise Value ($M)
LTM Revenue ($M)
Cash and Short-Term Investments ($M)
Net Debt/LTM EBITDA
amazon
Economic Benefits to Amazon²
2.5%
5.0%
10.0%
Number of Members:
200 million
Value Creation at Various Member Penetration Rates:
$27.8 billion
$55.7 billion
$111.4 billion
(1) Source: CapIQ Pro and Company filings. All data as of April 8, 2022 unless specified otherwise. (2) Source: Company filings and publicly available data.
Note: Assumes PTON incremental margin of 60%, below managements guidance of 70%, on current subscription prices. Accretion based on 2022E EBITDA multiples per Capital IQ.
$1,571,245
$1,614,635
$469,822
$96,049
0.73x
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