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It seems I was wrong.Not only is bird losing money and customers, it's losing non execs and vp of product marketing who has been running his own game for 8 months.. and ii's reducing their holdings.
Posters can spin as much as they want but Mo setting up his own game 8 months ago tells you how much confidence he has in elevate/bird. No company that is going to revolutionize in the way bird promises Should be having people in senior positions working part time.
Does this sound like a company on the up with a great product. These facts don't back up the confidence the company portrays. i'm sure IM will spin it as best he can and the bird 'techie 'devotees will take it all in. In my humble opinion this company will eventually be taken private as there is zero benefit of being on the AIM, the directors will be laughing all the way to the bank and the lowly pi's will be left moaning about it on here and advfn like many other AIM companies.
Difficult time for Bird and being reflected in the share price. This is not a stock for long term holding given that its at its lowest for the last 5 years. Reflects the confidence levels of investors. Ians active PR has worked well and the company did really well on raising cash on this messaging, but it the continual promise of future success has worn thin. It is a pivotal time now for BIRD to gain traction by winning new fee paying customers, or we will see new share price lows being hit.
MilkeyB55
"Reflects the confidence levels of investors" yep, because potential investors don't understand the technology and IP which is certainly not reflected in the SP. The investors need to understand the patents belonging to the company to appreciate it's true value. How many potential investors look at patents or have the skills to understand what they mean? The value in this company is in the IP and software developed so far, investors just don't know how to value this. I am invested here until an offer for the company comes in and I hope for many multiples of current SP. Imho, dyor, no advice intended.
Good insights. Thanks hyper. The challenge though is that the patents protect their IP from being copied. The value of the IP has to be reflected in the revenue - ie customers will pay for the product. They do have a good product, but its called by brand dominance from Adobe Premiere Pro, Avid and the other big brand editors that are ingrained in the professional editing culture. The lower end of the market is not clearly defined, differentiated or priced and this is where Blackbird are competing. Need to up marketing spend to define the value proposition, differentiation and value and start to post sales. They had a brilliant marketing guy a few years ago and it all seems to have gone downhill since he left. This is an area they should invest in to push the value. Most of the marketing/PR seems to be aimed at investors rather than customers. Hopefully they get their act together and push forward
BIRD was talking to AVID before they were the subject of a bid. The new CEO is keen on the Cloud. Some years ago Stephen Streeter was asked how long it would take AVID to convert their product into a Cloud based one and he said they would need a lot of skilled people, a shed load of money and up to 10 years and they still might not succeed. The one guaranteed way is to resume talks with BIRD. Similarly Adobe is not a Cloud Native product and they face similar obstacles to AVID. They don't have a problem now because elevate.io is not yet flying but when it does it will provide users with "everything that is needed and nothing that isn't". elevate will be adding new options as the opportunities arise. Every time a user logs on they will get the most up to date software to use. The aim was to get 1M users in 2 years (Adobe currently has 33M and the market is growing fast). My guess is that hey already have their marketing strategy sorted and it will use some novel methods to reach the users they are targetting - they have already indicated that customers who refer new users to them will benefit - and presumably the latest technology. AI from Twelve Labs will be important.
Agreed MikeyB55 - by going the content creator route, Blackbird must know pro users (who tend to be a bit sniffy about software they think is used by small 'Mom & Pop' users clipping up wedding videos) will eschew Elevate so Blackbird really need to market their product hard to the burgeoning influencer/content creators rather than wait for word of mouth.
Sweepydog2
yes, interesting situation regarding AVID and their road map ahead .....
maybe worth re posting that link indicating the problems ITV has had using AVID
https://www.computerweekly.com/news/366582032/ITV-News-tech-failures-nearly-caused-holes-in-live-broadcasts?