Brutal. They need to halt and raise cash ASAP. There’s no way they can continue earning 5-7% on $4M TTV each quarter, and have over 100 staff and all the associated expenses. Something has to give.
@Ryzie I wonder how they have dropped the TTV so low, are they just declining transactions when customers try to buy something? Think about the knock-on effect, the customer will delete the app and move to a competitor (of which there are many established players). And yet the announcement is all positive spin, talking about all the new merchants they’re signing up and the upcoming deal with SOGO etc.
