McD Stuart.
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McD Stuart.
All buying interest now gone in this stock. No bids. Should be in free fall by this afternoon. I think American directors (the market) will be looking to trim costs right about now.
For the past couple of years, there's been a whole pile of office web applications in production over at google. If this app performs well, or makes the mistake of showing up on G's radar, they'll assimilate it... if they haven't already.
You can only survive being "noticed" by G, if you've got technology they don't. But this looks like an ensemble of repository scripts, I can't believe people pay money for it, and paid money to buy into it.
I don't think it wouldn't swing in the states because they've already had their dot com fingers burnt, a web app these days, wouldn't be looked at unless it had wings and could fly to Mars.
Here's sum site info, not that it matters very much now. But, NZ tech investors need to start reading "the numbers", they tell a story, so it will be interesting to see how this evolves over time, and if these numbers tell a tale of things to come.
Alexa rank 3.7 million (means a 'handful' of people visit the site each day. If an owner of a site has an alexa tool bar installed, and visits his own site 5 times a day, an Alexa rank under 1 million can be expected - the lower the Alexa rank, the more visitors a site has. Visitors to a site, means there's something interesting at the site worth looking at, like youtube). Considering the amount of publicity, I would have expected to see something under 100k.
PR 4 (site needs more back links otherwise that'll be a 3 at the next update). So that's an area concerning how much external promotional activity is in play, the rank suggests, not very much. For a web application, it would be easier and costs less to bring prospective client's to the product via advertising at high ranking content relevant sites, than to send a rep out on the road knocking doors down. If there was a mix of media including web advertising, then the rank should increase significantly, since PR is weighted on the value of the inbound links, and a few other less significant algorithms.
A "table coded web site" *cough* web 2.0 applications have "nothing" in common with tables, except to display tabulated data (the content pages have no tabulated data). Web 2.0 application "gurus" would rather risk the embarrassment of asking a 'real' girl out on a date, than use tables. And its a safe bet, whoever developed the application, had a hand in the website too. This only implies an oldish style of coding, not seen very often in today's competitive web applications market.
Besides, the best web applications, are privately funded, the public only get to hear about them when a "big fish" steps in to buy a slice ... everyone knows that, right?
If investors thought they were buying into a "unique" and "original" online business concept ... think again.
http://en.wikipedia.org/wiki/Board_portal
Here's a wiki on digital board books that "includes" Diligent. DiligentBoardBooks, sounds a lot like VisualBoardBooks, unsurprisingly, all of them advertise similar features, and none of them have publicly accessible online demos (you need to email and ask for one).
Virtual online board books is beginning to ring like a web portal (like the ones you buy off eBay for 500 bucks to sell chocolate bars online etc). So I'm going to ask around and see if there's a single publisher thats licensing this system. So far I haven't found a hard-core of geeks behind Diligent's application, only bankers, finance exec's, marketing and others who kinda don't fit into any specific profession. There would usually be a 'developer' with a considerable shareholding, and none of them appear to fit that description, unless they've been left out in the cold, and that would be bizarre.
And here's another portal for Diligent:-
http://tinyurl.com/26c5py
It's a "big" picture, nicely photo-shopped ... but, I thought that guy resigned? CEO's a "grand title" for a sales rep. Or, did he resign on paper as far as "New Zealand" is concerned.
Here's more on "Sharon Daniels" of "Manhattan Creative Strategies". She did very well from the IPO. (don't think that's her picture though)
http://tinyurl.com/25mrz9
And here's something else that appears to embody a collective.
http://tinyurl.com/34oadt
The trademark for EasyEdit, looks to be owned by a company in Dublin. I've contacted them seeking clarification. Why? because it's in the public domain and I can.
Extra stuff:
Kiri Borg is the the company secretary, and she's also listed as the registrant for 104 domains (including Diligent, and ny city).
I'll get around to those other domains, a bit later :)
I don't expect to find a smoking gun, what I am finding is a real clever pitch of a mediocre and 'done' product. There are thousands of more innovative web products and emerging technologies out there that could use a 24 million shot in the arm. So I'm hoping to find a sparkle of innovation that warranted a sell-out IPO, there must be one, it surely can't be allowed to be as easy as this looks on the surface.
Radar,
A very informative post and you should be congratulated for your efforts.
I don't hold and think that the company's time is very limited.
Thanks and best wishes,
TerryA
No effort at all. I'm inclined to agree, the product might have been a crop of onions and they still would have had a successful IPO. Besides, the public here are easy parted with their money, buns and patties, batteries that never go flat, so why not a donkey painted pink and called an elephant.
So they'll be around for a while, for sure.