VIDEO "For January we've set new records across our product lines"
Can verify traffic was up (1.5m) in the month of Jan via
https://www.similarweb.com/website/rent.com.au/#overview I think its safe to say the most recent layout for Rent.com.au has been a success in driving traffic.
For some context this was the months from May 21 to October 21
I really thought there would be enough advertising revenue coming in from increased page visits that we would see cash flow positive, obviously financing RentPay with constant updates is holding us back.
Because they are handling large amounts of money the whole part of verifying customers has clearly become a huge obstacle and I hope the team have finally worked it out in the latest updates.
“RentPay continues to occupy much of our focus. We recently announced new partnerships with several real-estate agencies, and
we will commence onboarding their new and existing customers into the platform this quarter. "
Greg seems very bullish with this comment and I was expecting that they would have already begun onboarding but I suppose the date for the partnerships to begin and training up the agencies staff would have delayed this. Keen to see the resulting figures next quarter.
Now I was under the impression that RentPay was going to work using the network effect, so its mates telling mates about a cool new way to organise your rental finance therefore I would like Greg to set some smaller goals for RentPay, not a figure by 2023 but more a % increased in users each month/quarter if we can maintain a 50% increase in paying users each quarter this would be sufficient for investors to gauge how the business is progressing.
"$10.5m in rent has been paid into RentPay to date (daily trust account balance ~$500k)."
This always interested me as when you read through fintech finances they usually go into more details here, the large sums they deal with drive over inflated company valuations and clearly these have all come back to some reality over the last 6 months.
Greg could use this to hype the story but leaves it as a note in the update section, I guess it shows that he is more focused on other aspects of RentPay which is good for the long term.
Next we come to
Facebook advertisements ,
It looks like the most ad's I've seen in such a short time, interesting to see they are moving into heavier targeted marketing by using memes, Greg knows the target audience so lets hope the ad's hit the target better.
There is not much for conversation going on here which is disappointing but I wonder if RNT is sitting in a few watchlists with investors waiting for the key metrics it align with their risk tolerances to jump in.
Finally I leave my sentiment on none as I am an investor not a trader I had no plans of selling and therefore have missed out capitalising on the huge price action a year ago and I don't think anyone should follow me, I would say this could soon be a commercial success but I was saying that all last year and the penetration of the new product was underwhelming.
Keen to hear more from others.
