-6%

est. 2Y upside i

Series B

Internet for the urban developing world.

Rank

#2469

Sector

Telecommunications / Internet Service Provider (ISP)

Est. Liquidity

~5Y

Data Quality

Data: Low

Equity is highly speculative: entry valuation is unknown but estimated at $200M based on $40M Series B.

Last updated: July 3, 2026

Bull (20%)+145%

Strong vertical integration and high growth sustain a 10x revenue multiple, but critical incumbent threat and 20% dilution cap upside. Exit value of $530M yields 145% net upside.

Base (35%)-14%

Exit at 4x revenue multiple (~$212M) aligns with mature telecom comps, barely exceeding entry valuation. After dilution, net downside of -14%.

Bear (45%)-67%

Multiple compression to 2x revenue ($106M) due to incumbent dominance and no exit catalyst. Despite preference stack not wiping out, net downside after dilution is -67%.

Est. time to liquidity~5.0 years

Preference Stack Risk

severe

Funding Intensity

36%

Total preferred liquidation preference of $71.4M is 36% of entry valuation, meaning common shareholders are significantly subordinated.

Dilution Risk

high

Expected additional funding within 2 years likely dilutes common equity by ~20%.

Secondary Liquidity

none

No secondary market activity; liquidity solely dependent on an exit event.

Questions to Ask at the Interview

Strategic questions based on Somos's data — designed to show you've done your homework.

  • 1

    “How will Somos defend against Claro's scale and existing customer base?”

  • 2

    “What is the unit economics per home passed and churn rate?”

  • 3

    “Given the preference stack and no exit timeline, how do you value the equity component of this offer?”

Community

Valuation Sentiment

Our model estimates -6% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.