Pureprofile (PPL.ASX) has drifted below its issue price ($0.50) post listing in late July. At today's price ($0.48), PPL is trading with a market cap of roughly 1 times its proforma 2016 revenue (A$28m). With a robust existing "big data" business and a material deal with Newscorp, that has gone relatively unnoticed by the market, we are taking a closer look at PPL. With online retail sales growing in Australia alone to $16.9b in 2015 (NAB survey), and companies exposed to online marketing and payments reporting some exceptional results (Mobile Embrace MBE.ASX yesterday, revenue Up 71%, EBITDA Up 62%), PPL is well positioned to benefit from this continuing growth in online advertising. Finally, there are a number of potential catalysts to come, with the company having to update the market on the materiality of recent commercial agreements on the FY16 prospectus forecasts. (VIEW LINK)