That is completely incorrect, I was working at 9SP in 2015/2016...

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BlackFX

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13/05/22

20:45

Post #: 61401513
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Originally posted by WonderDog: ↑

@Mr.Gold...
> Original 9spokes business was a free program... blah blah ... that was the original revenue stream.
The direct to consumer business has NEVER been the main game. If this was their focus then they would not have made it available for free. And your suggestion that their income was going to come from a share of advertising revenue seem ludicrous.
Even before they listed they were doing enterprise platform arrangements with Deloittes and Barclays. The direct channel probably lets them try things quickly to test and learn without the overhead of changing an enterprise customer platform.
> they look like bogans that just left the pub
No, they look like techies. The days when tech teams wore suits and ties are long gone. Your examples look like real estate agents.
The description on the "bogan" photo says they are interns who joined Product and Engineering team for two months.
- Annie Kane, UX/UI Designer
- Melvin Narayan, Developer
- Pierre Sandy, Developer
- Simon Weng, UX/UI Designer (not in photo but working hard elsewhere)
And before you rant about them being straight out of college, using interns is common practise. They are cheap, keen to learn and bring new ideas to the existing team.
> how 9spokes is going to get out of raising money yet again just to survive?
By converting some of their leads into contracts.

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That is completely incorrect, I was working at 9SP in 2015/2016 and the business model was to use the deals with banks etc to fund the development of the product but to derive the main revenue from clipping the ticket on subscriptions - so you would sign up to 9SP and then use it to sign up to Salesforce, Xero, etc and 9SP would take a % monthly commission. The future roadmap had them becoming a data broker because of the "big data" that would be flowing through the platform.

None of this ever happened though.

Even back then Deloitte international was pushing them away and trying to walk back from a lot of the promises made by Deloitte NZ.

Incidentally the Deloitte, Barclays and Suncorp versions of 9spokes were all completely different codebases developed by completely different companies hosted on 3 different providers - and this was not at the behest of the customers, it was because 9SP was incapable of building a system that could be reskinned and deployed for a customer with minimal fuss.

9SP Price at posting: 0.4¢ Sentiment: None Disclosure: Held
8 Upvote

5 Great analysis

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