Agreed @Salubrious. What I like about Jaxsta is that it's a real company unlike many at this end of the ASX. Real staff, real offices, real board. Founder-led (Jacqui has put a ton of work into building this) with real industry kudos & partnerships. Sure there have been revenue-scaling challenges but I don't for a minute believe this is a scam with directors trying to enrich themselves.
The biggest problem I see (and why I think this could be a $billion company at some point in the future if done right) is that Jaxsta is not being aggressive enough.
Jaxsta thinks of itself as a 'music' company not a 'musictech' company. It's run by musicians for the benefit of musicians (this is literally on their website: "Jaxsta is made by music people, for music people - Jaxsta is a music company with technology, not a tech company with a music department").
However this is holding Jaxsta back - if the focus was on 'musictech' it could grow into becoming so much more. Jaxsta has a great brand & needs to make the current business (official data credits) just one of many under the umbrella brand of 'Jaxsta - the digital home of music'.
Or started their own versions of these companies if cheaper - I personally know startup founders who have tried to build versions of all the 4x companies above but have given up because they didn't have the connections/network to get them off the ground & just want to sell their little startups. A company like Jaxsta could pick these up cheaply, integrate them, supercharge them with their own network/connections & in 6 months have multiple new revenue streams all larger than their current single revenue stream.
As I said Jacqui & the team are heading in the right direction. But they could become so much more if they allowed themselves to reframe how they think about Jaxsta & their mission.
JXT Price at posting:
5.6¢ Sentiment: Hold Disclosure: Held
(20min delay)
