| 20-F | 2019-12-31 | Filed 2020-03-27 |
| 20-F | 2018-12-31 | Filed 2019-03-29 |
Our website was first launched in June 2009 and was officially named "bilibili" in January 2010. We commenced our commercial operations in 2011 and established Shanghai Hode Information Technology Co., Ltd., or Shanghai Hode, to expand our operations in May 2013. Subsequently, we obtained control over Shanghai Kuanyu Digital Technology Co., Ltd., or Shanghai Kuanyu, in July 2014 to further expand our operations.
We incorporated Bilibili Inc. under the laws of the Cayman Islands as our offshore holding company in December 2013. In February 2014, we established Hode HK Limited, or Hode HK, a wholly-owned Hong Kong subsidiary. In September 2014, Hode HK established a wholly-owned PRC subsidiary, Hode Shanghai Limited, which we refer to as Hode Technology or our WFOE in this annual report.
Due to restrictions imposed by PRC laws and regulations on foreign ownership of companies that engage in internet and other related business, our WFOE later entered into a series of contractual arrangements with Shanghai Hode and Shanghai Kuanyu, which two entities we collectively refer to as our VIEs in this annual report, and their respective shareholders. As a result of our direct ownership in our WFOE and the variable interest entity contractual arrangements, we are regarded as the primary beneficiary of our VIEs. We treat them and their subsidiaries as our consolidated affiliated entities under U.S. GAAP., and have consolidated the financial results of these entities in our consolidated financial statements in accordance with U.S. GAAP.
| Comps ($ TTM) | Market Cap | Gross Margin | EV/EBITDA | Ret on Assets | Assets | Liabilities | Revenue | G Profit | Net Income | EBITDA | EV |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sphere 3D (ANY) | 11,226,299,000 | 32% | -6.1 | -29% | 9,157,000,000 | 9,917,000,000 | 4,461,000,000 | 1,425,000,000 | -2,624,000,000 | -1,820,000,000 | 11,097,298,000 |
| Inpixon (INPX) | 10,608,885,000 | 75% | -0.6 | -56% | 30,491,000,000 | 19,006,000,000 | 4,388,000,000 | 3,278,000,000 | -16,955,000,000 | -16,162,000,000 | 10,043,885,000 |
| Evolving Systems (EVOL) | 10,460,224,000 | 67% | -1.4 | -36% | 23,032,000,000 | 12,835,000,000 | 19,066,000,000 | 12,817,000,000 | -8,316,000,000 | -6,911,000,000 | 9,462,224,000 |
| TSR (TSRI) | 10,791,341,000 | 16% | -4.4 | -10% | 12,534,145,000 | 5,645,914,000 | 63,340,028,000 | 9,825,392,000 | -1,307,336,000 | -1,602,639,000 | 7,096,351,000 |
| OneSpan (OSPN) | 658,763,000 | 67% | -1.9 | 2% | 365,277,000,000 | 111,202,000,000 | 248,366,000,000 | 165,225,000,000 | 7,704,000,000 | 28,697,000,000 | -55,077,238,000 |
| Creative Realities (CREX) | 17,366,000 | 44% | 1.9 | 1% | 34,927,000,000 | 17,035,000,000 | 25,521,000,000 | 11,215,000,000 | 475,000,000 | 1,903,000,000 | 3,678,366,000 |
| WISeKey International (WKEY) | |||||||||||
| China Index Holdings (CIH) | |||||||||||
| Bilibili (BILI) | |||||||||||
| StoneCo (STNE) | |||||||||||
| Phunware (PHUN) | 53% | 0.6 | -30% | 30,425,000,000 | 23,944,000,000 | 16,462,000,000 | 8,705,000,000 | -8,987,000,000 | -8,247,000,000 | -5,250,001,000 | |
| Liberty TripAdvisor Holdings (LTRPA) | 0% | -1.3 | 1% | 5,531,000,000,000 | 1,644,000,000,000 | 1,572,000,000,000 | 0 | 74,000,000,000 | 272,000,000,000 | -352,000,001,000 | |
| Luokung Technology Corp (LKCO) | 0% | 97,079,401,000 | 33,978,642,000 | 0 | 0 | 0 | 0 | -1,192,220,000 | |||
| Wealthbridge (HHHH) | 1.2 | 0% | 58,541,146,000 | 2,524,370,000 | 0 | 0 | 267,638,000 | 267,638,000 | 330,869,000 | ||
| YayYo (YAYO) | 38% | 0.2 | -8% | 4,491,215,000 | 7,232,901,000 | 1,718,439,000 | 651,066,000 | -370,655,000 | -370,655,000 | -81,341,000 | |
| LiveRamp Holdings (RAMP) | 55% | 1.8 | 0% | 1,363,230,000,000 | 176,872,000,000 | 330,991,000,000 | 180,507,000,000 | 0 | -438,668,000,000 | -792,258,002,000 | |
| Akerna (KERN) | 56% | 7.9 | 284,607,100% | 3,192,890,000 | 1,795,529,000 | -2,846,071,000 | -2,919,453,000 | -22,929,933,000 | |||
| Kaleyra (KLR) | 431.5 | -1% | 79,366,258,000 | 74,366,250,000 | 0 | 0 | -1,086,138,000 | -333,118,000 | -143,750,002,000 | ||
| PagSeguro (PAGS) | 0% | 11,417,278,000,000 | 4,842,900,000,000 | 0 | 0 | 0 | 0 | -1,000 | |||
| GoDaddy (GDDY) | 16% | 4.2 | 2% | 6,167,600,000,000 | 5,499,700,000,000 | 2,903,500,000,000 | 473,600,000,000 | 120,900,000,000 | 352,300,000,000 | 1,471,899,999,000 |
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