indonesia competition, page-12

Yes, they have cash now, but with the CEO's statements that revenue is not the focus and taking the last quarterly as a gauge, they only have 1.5 years worth of cash on hand (unless cash flow improve - remember they are investing in the businesses so unlikely it will). I am not saying they will run out of cash at any point, sure they can raise again, but they will burn through it and like IPP take 3-5 years to be cash flow positive.

I don't take much solace at the CEO laughing at the Chairman's revenue projections, not a great look for either of them.

I am sure they will do alright, but I think people should be cautious of thinking this will be the next CarSales when they clearly don't have a market leading website....going to be a long slog if they are stuck at no 2 in all their markets, as the timeframes for cashflow positive and profitability in developing markets will blow out massively. Look at the iProperty site in Singapore which is being easily beaten in the Singapore market and costing the business cash consistently.

I would add ThaiCar.com is ranked 2,873 in Thailand (alexa.com) as well, I am not sure who is number 1, but assume they are under 1,000, so coming from a long way back again.

You are right, 15 mil can get them some traction, but they will sure need every bit of it to make progress.