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Yes they have all gone.
GCI pay nominal fee and assume the £8m of Vida debt. I thought it was only 4!!!!! Apparently there is a pipeline of orders from Voda so GCI could do alright out of this.
Business being offered around for nominal £1 with commitment to pay back Vodafone (Not sure exact amount but at least £4m) Piers Linney blaming Vodafone for it failing...... Really!!!! two CEO's on £250k PA and they want to blame Vodafone...Unfortunately only Piers and SImon made any money out of this one.....
Business being offered around for nominal £1 with commitment to pay back Vodafone (Not sure exact amount but at least £4m) Piers Linney blaming Vodafone for it failing...... Really!!!! two CEO's on £250k PA and they want to blame Vodafone...Unfortunately only Piers and SImon made any money out of this one.....
My work here is done and hopefully I saved some people from getting burnt. I have been accused of being a disgruntled employee trying to get my own back. I am not. As I have said all along I am someone who knows this industry really well and met PL on many occasions and knew this was all hype. Good luck to everyone in future investments.
If you go back through all the releases and news articles you will find that statement repeated many times. If you add up all the in vestment they have spent just over £50m to build a business that turns over £8m and continue to burn cash at an alarming rate. 2 x CEO's at £250k a year each, really!!!!! I would bet that part of the deal for Lawrence (UK Fast) putting the million is that when the VODA contract with OUT expires they will migrate the 2 large customers over to him. Vodafone are just keeping the lights on to fulfill the contractual obligations they have to the 2 large customers.
Vodafone signed up to resell Out services to its customers. Voda signed up two of their large customers directly for the services so the contract is between customer and Voda. Voda have a back k back contract with OUT. Out supply the services to the customers. If OUT go pop then Vodafone default on the contract to their customers. Voda had no choice but to keep them going last time and will do until the contract with the end customers expire and the back to back with OUT and they can migrate them to a new platform.
"ask your self to why Vodafone would provide a finance agreement" You should really do your research. The 2 biggest customers OUT have came from Voda. If OUT go bump then Voda in trouble as the contract to provide the end users services are direct with them. They bailed OUT last time and have helped them again until they can get this sold.....
Lawrence bought £1m at 20p as a private investment so I am not sure why you wish you bought at the same time.
Lawrence (UK Fast) have just got £40, of funding to help boost growth through acquistions. He may pick this up super cheap and transfer customers to his platform and remove the O Cloud platform and OUT staff costs. Remember that the only reason Voda funded them last time is they have 2 big customers on the platform and couldn't afford to see it go pop.
I wonder if the my both took their full salary this year? Surely they both can't still be employed this year at that cost? No wonder they are burning cash........
I have seen this coming since day 1. They were all over the place early on trying Hosted Email, IAAS, CRM and all badly delivered and too expensive. The market for these services was only heading down in terms of price / margin as adoption rates picked up. The finally settled and bet the farm on Skype for business (Lync) but they didn't really have any differentiator and much larger telcos have more to lose and would soon come to the party when the market was ready and have done. MS are also offering voice breakout as part of O365 so even tougher to get any traction. Final throw of the dice was Secure O Cloud for the G Cloud market. They took so long to get the accreditation an get this right and the market for these services is competitive and they just aren't well placed. PL is a great spin merchant who convinced a lot of people to part with their cash but that's all he is. No technology experience, no proven track record, just unfounded spin. They miust be close to running out of cash and cant see the market will have an appetitie to invest in more. I ave said many times that I believe they will take it private at low cost, sell it privately and claim a huge personal success so brand PL can continue.
Are they that bad they are hanging on for any good news to deliver with tem but none is forthcoming?
What is the time frame in which these must be published? Last year the my had posted them by now.
A full leader board of G-Cloud suppliers can be revealed by CRN as sales through the framework's parent organisation Digital Marketplace surpassed the £1bn mark. Number 1 was BE-IT with £58m Outsourcery........... 516.......... with revenue to date of £36k - Lol yep you read that right and to be precise £36,101.70. Looks to me like they have blown another pile of cash building secure G Cloud only for it to be a white elephant.
This doesn't sound to me like someone who is slowing down until 2017. "While the UK business continues to go from strength to strength, it is also fundamentally important to me that I contribute to the transformation of Insight, not only in the UK but across our EMEA geography. Following consultation with the senior leadership team at Insight, I am confident that there is a bigger role for me to play in the transformation of our EMEA business.""While the UK business continues to go from strength to strength, it is also fundamentally important to me that I contribute to the transformation of Insight, not only in the UK but across our EMEA geography. Following consultation with the senior leadership team at Insight, I am confident that there is a bigger role for me to play in the transformation of our EMEA business."
Didn't take long: Insight's managing director Emma de Sousa has called off her move to Outsourcery and will stay at Insight instead. The UK boss put out a statement this morning confirming that she is set to stay at the reseller whose UK business she has run for seven years. In November, de Sousa announced her plans to leave Insight to become Manchester firm Outsourcery's managing director and was due to start on 1 April. In a statement to the London Stock Exchange, Outsourcery's chairman Ken Olisa said: "While we are naturally disappointed by Emma's decision, we fully understand it. We will not be enforcing the terms of her contract. On behalf of the board, I wish her a safe pregnancy and success in the pursuit of whatever career decision she now chooses to make." The company added that her pregnancy would prevent her from starting until 2017 at the earliest and "as such, and in order to keep pace with the company's plans, Outsourcery has re-initiated its search for a leadership role to drive sales and marketing activity, and will look to make an appointment as early as practicable". The firm has been "truly supportive and understanding", said de Sousa, adding that she worked closely with the team through her decision-making process. "A significant change in my personal circumstances has driven me to re-evaluate my personal and professional future," she said. "The outcome is that I no longer feel able to pursue the opportunity with Outsourcery and intend to continue, and enhance my journey with Insight." She added that she is excited to continue at the US-headquartered giant. "I am committed to Insight and the team we have built in the UK is one that I am extremely proud of," she said. "They have once again in 2015 demonstrated the ability to grow market share, increase client satisfaction and execute against our business strategy. I have always been, and remain passionate about the success of this team. "While the UK business continues to go from strength to strength, it is also fundamentally important to me that I contribute to the transformation of Insight, not only in the UK but across our EMEA geography. Following consultation with the senior leadership team at Insight, I am confident that there is a bigger role for me to play in the transformation of our EMEA business."
I wonder how long Insight will leave it before announcing she is staying on with them?
I think she hadn't realised how bad it actually was. I did say in an earlier post I wondered how they would afford her as she wouldn't be cheap. Seeing today's announcement I am not sure I buy it and bet she appears back working before 2017...
Finally :)