Roy van Keulen is an equity analyst, ANZ, for Morningstar*. He covers the Australian technology sector. His specialties include online marketplaces, and vertical & horizontal SaaS businesses. Before joining Morningstar in 2021, Van Keulen conducted a Ph.D. study at Leiden University on the impact of the digital revolution and worked as a management consultant advising businesses on their strategic positioning for the digital age. He also developed several award-winning frameworks for assessing the future competitive environment of companies. Van Keulen holds a Ph.D. in Philosophy of Technology from Leiden University. He also holds master's degrees in law and philosophy from Leiden University. * Morningstar Australasia Pty Ltd ("Morningstar") is a wholly owned subsidiary of Morningstar, Inc