It's quite concerning that they have been listed for over 4 years, and from what I'm reading they still haven't found a product market fit across branding go to market strategy etc , and have not found a model that scalable. Are they saying it's taken this long to realise a name change, a move to SaaS and looking to acquire bolt ons?
Buyers will always have a reason not to buy a product... But if it does not move the needle enough in solving a big problem they won't buy a solution.
It just seems that every year they spin out a new reason why they can't scale. Last year was was we are moving away from prof services now we need SaaS. We have SaaS now but revenue down 40 percent as it takes years to close 100k deals....
Our best performing asset being payable was sold off way to early. I just think they keep moving the goal posts, and it's reflective of a company that is communicating as if it's a seed round or at best series A company. This company wouldnt anywhere get near an IPO at current growth.
i am positive they have found a solution to these problems but do we have any confidence this will translate to any decent revenue?
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