Im fully aware programming for a new platform will take a year plus to iron out the bugs and be 99% complete, also to consolidate the new businesses into one. The staff have been slashed suddenly on near completion of the new platform. So all the hardwork was met by mass sackings, nice reward. These were massively overstaffed businesses in the first place. Why were they so disorganized??? The whole beauty of E-commerce business is they are controlled by a central hub in one location of programmers and staff with lowly staffed distribution centres in individual countries. This is general knowledge not rocket science, yes it takes time to achieve but they have had plenty of time except for Living Social.
Expect revenue to decrease or steady with staff slashing and the new platform rollout, followed by revenue increase 2nd half this year and beyond. Way undervalued if they get this right!
E88 Price at posting:
7.5¢ Sentiment: Buy Disclosure: Held
