Redeye has updated its estimates following the announced increased guidance from Flexion Mobile last week. Flexion updated its organic growth target from 40-60% to 60-80%. Due to the strong performance of Flexion’s games portfolio, we increase our organic growth estimate to 69% year-over-year (previous 40%). Including the newly acquired influencer marketing agency Audiencly, we expect close to 100% growth in 2022. We also increase our valuation in our base case scenario somewhat.
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