Mental Health App - $3 Billion dollar merger, page-33

Judge a company by its past......I reckon that's what most people would do especially if you believed so much in the company but have been let down.
Ilumen certainly hasn't lived up to expectation yet but it's hardly a poor product. Customers have consistently renewed their subscription but user adoption rate has just been poor. That could change any time or MEB could re-strategy to drive market adoption of Ilumen. Ilumen was a novel idea and the product is still trying a carve out a market for itself.

I was a bit hesistant with LUCA too but this is an established market and a far easier test. There are millions of users of mental health apps already. It is usual for a user to want to try out something new especially if it offers better features than established products. Look at smartphones, BnPL, Cars etc. You're not attempting to convince new users to take up a product. You're offering them a new one with an added value over existing ones. Phelp or no Phelp is the least of my worries. You can't keep a good product hidden for long. By the way, Phelps was on Sunrise exactly a year ago tomorrow but he didn't have much to say about Medibio as we had virtually nothing to talk about then except for Ilumen which is still a mystery to so many organizations.

Even with the requirement of an "expensive" device as the Apple watch and the Garmin, the addressable market is worth billions of dollars. It is estimated that there are over 100M active Apple watches today. About 34M added last year alone. Shipments of smartwatches grew are growing at an alarming pace inspite of the pandemic. See story on Garmin's growth below
https://www.reuters.com/article/us-garmin-results-idUSKBN1KM4O6

The opportunity this presents for LUCA is that being the only app that combines biometric and Pyschometric assessment of mental health, basically places all these users of smartwatches in the hands of LUCA. People are obsessed with activity tracking devices as evident by the numbers of devices being sold yearly. Here comes LUCA with an offering no other in the market has. Ability to objectively assess your stress levels or mental health using data collected by your smart device. Mate, your story about addressable market is non-consequential. The market is huge as it is.
To download rates, Headspace has over 10M+ downloads on playstore though it's been around for years. Ginger has only 100K+ downloads raised US$100 recently and it's valuation is about US$1.1B.
Most user costs as borne by their employer, insurer or some other organizations. LUCA will align with insurers, health care providers, government etc. LUCA is technology driven and if it's user friendly and has the network of reputable health care specialists, MEB's valuation will skyrocket from here.

It was worth staking some funds here imo.