I phoned Simon the investor relations guy for 1PG. Here’s what I gleaned:
1. The original revenue model was only a “proposed” revenue model. Looks like they will be getting $2 to $3 per employee per month but they are starting slow - just one department at a time, as per the land and expand model. It’s also not a ceiling - they might charge higher in future. But they might charge less for companies with a higher proportion of generic jobs.
2. We won’t see the full revenue effect until 12 months after the companies sign up because it takes time for 1-Page to spread to all departments.
3. It takes 3-5 months for a sale, and there’s also follow-up support to get companies to use it optimally.
4. They aren’t taking over the whole companies’ recruitment - 1-Page is just part of the mix. Companies might still also use traditional resources and psychometric testing, etc.
5. Once companies are onboard, they are unlikely to leave because their staff data goes into the 1-Page system, which I didn’t quite understand, and the added data increases the value of 1-Page.
6. He said if you want to see the potential of a new tech company look at the quality of the people who join.
7. No new products planned because their hands are full optimising the current products.
8. Companies have been more aggressive in signing since Branch-Out became integrated.
9. He mentioned to benefits of 1PG, which we already know, but he emphasised cost saving and weeding out bad applicants.
1PG Price at posting:
$1.69 Sentiment: Hold Disclosure: Not Held
