I have been holding this stock for some time. The Wangle VPN application has been underwhelming. For whatever reason it has not delivered what was promised i.e. speed increases and data savings. I think the main reason given for not being able to meet these functions was the surprise in having to collect and hold user data. Whether this was the reason for the application not delivering as promised most of us will never know. That said, I think the Wangle team knew that the application was not going to perform as expected, and because of that knew it wasn't going to be a big hit.
From memory I think the team members relevant to the app left towards the end of last year, and around the same time we got some hints that this new application was on the way (telethon partnership which came out of the blue). To their credit the wangle team have been dynamic in salvaging what they could from the Wangle app, and have developed a new product. Rather than trying to flog a dead horse they have created new opportunities and partnerships to try and make Family Insites a success. At the start of last year we found out about the retention laws, within a year of that news Wangle have turned it around to their advantage and are using the data retention in Family Insites. I would much rather be involved in a company that can be flexible like this and make the most of the situation at hand. Without being overly poetic when a door is shut a window opens.
Now no one in their right mind wouldn't have a bit of healthy scepticism about how successful this new product will be. However, when I look at the bigger picture I still think there is opportunity to be had here.
WGL Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
