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Its not about trips to the moon - its about roles if you're in...

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    Its not about trips to the moon - its about roles

    if you're in the milk business - and a litre of milk costs a $1 - that needs to be divided between a number of players in the chain - the farmer / the wholesaler / the retailer / + bits like transport, packaging etc

    in much the same way way a piece of digital advertising has to pass through a number of hands - content creation / media / media auctioning / + bits like analytics, legal...

    EN1 don't own the entire chain - my understanding is they do the auctioning piece - so that a piece of content can find the best media location at the right price - therefore if the auctioning part is 10% of the whole - then EN1 maxes out at 10% of the digital ad spend

    I'm just trying to better understand the market role EN1 plays - to better understand its $ opportunity
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