I wonder if Eagleview is not more like a typical American business than it is like NearMap.
Eagleview reminds me of Oracle … they had a sub-standard product and so swallowed up a far better technology (Aconex) and rebadged it as their own. Eagleview had no technology (and have no history of development), so they swallowed up Spookfish to get the camera and splicing systems, and now call that their own.
How do they relate? I have noticed that Aconex has deteriorated since being taken over by Oracle … substantially. The focus is now on sales, less on support and development. The server capacity has been slashed, the site is now slow and often off-line. The "feel" of an interested and engaged organisation has vanished.
This seems typical of the American model of SAAS and other related tech products … get to a certain point then milk it for every cent. They lose sight of what made them what they are, and the original customers all abandon them. This happens because you have MBAs running the show rather than technical people. You can see it in the fact that they have transferred their support operations to India to reduce costs. That sort of move always comes at a price to quality and engagement.
If NearMap keeps their eye on the ball and keeps innovating, maintaining the quality of their service and retains the Australian model for SAAS products they will always (in my opinion) be in front of Eagleview.
NEA Price at posting:
$2.54 Sentiment: Buy Disclosure: Held
