Tbh, I am not sure if it is the contract itself that made Plexure bleed from servicing Maccas, but I think it was more related to how Plexure built their products. Heard from friends used to work there.
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This whole thing stinks. Mostly I am annoyed with myself for not selling all of my shares because I knew that Phil Norman wasn't up to the job. I sold some shares at a small loss but should have sold all of them long ago. Phil Norman had the good luck to be with Xero but IMO he couldn't find his way out of a paper bag.
Now we have this colossal mess. TASK is a good solid mom and pop business and may fit well with Plexure but no thought has gone into integrating it and the grandiose plans of Phil and Craig are now coming home to roost. I believe Dan is a great manager of TASK but the skills to develop software and to maintain and grow a solid business are not the same skills required to trouble shoot and sort out the mess that Plexure/TASK is in. I'm not sure he's up to the job. Maybe he will be able to make the tough decisions, bring the team together and get them on track. However, at this point it doesn't look good and I will be looking for an exit around 50 cents and put my money into IFT
If we had enough votes I would be recommending a motion for a vote of no confidence in the board. A giant clusterf*ck
It seems that McD tried the PX1 solution, and still sitting on the fence about whether to move forward with them, not a good place for PX1 to be. That told the market that the PX1 option is nothing special, and if you're not special you're history in mobile apps. Along came TASK, and now they might have something special. "This presents a ground-breakingand industry-first opportunity to linkrestaurant operations with customerpersonalisation."
If they have the right team that builds a bug free SAAS product, they may have stumbled on an uber product that the industry needs.
Then again every developer has a ground-breaking industry-first app.
Buy your tickets for the roller coaster, management takes no responsibility for mental trauma caused by the ride. :)
$120 million. I can't remember why this number stands out so much... LOL... maybe it was the cost of convincing a well run privately owned company to take a calculated risk going public by backdooring via Plexure.
First thing they need to do is a Steve Jobs and fire the Board. They clearly have no clue.
[QUOTE=BlackPeter;925815]The only reason they were successful was due to how desparate the board at Plexure was to bail out once they knew their 2 year strategy to go global failed miserably. And not only that... their business plan didn't cover rising IT costs as client traffic increased.
Guys, this is school boy stuff. It's laughable.
McD exiting Plexure is actually a massive undertaking. We can now see why it's taking awhile for McD renew the contract. Plexure costs for the programme have gone up significantly.
So the question for McD is how much value is Plexure returning in terms of sales I guess. Does revenue generated exceed the new cost structure Plexure is asking.
On the flipside.... Plexure will also be wondering how they can reduce IT costs. Did they really need to capture and store all of that data for McD??
What a mess.