‘A company in turmoil’ – Pure Profile shareholders attack chairman Andrew Edwards
The rebel shareholders behind the bid to oust the chairman of online research and digital advertising company Pure Profile have published a deeply critical attack on the leadership of Andrew Edwards.
Edwards: Accused of leaving Pure Profile ‘exposed and vulnerable’
Oceania Capital Partners, which sold digital agency Cohort to Pure Profile in late 2016, has claimed that poor financial stewardship has left the company “exposed and vulnerable”, with a languishing share price and struggling to pay what it owes.
Edwards is finished ! A shocking outcome for shareholders , staff . Do the right thing Edwards
Suprised its taken this long for Edwards to be found out.
Is it just me who has a fundamental problem with a business model that “has been focused on building detailed profiles of online consumers to allow for focused targeting of advertising”.
This is concerning not only in terms of privacy (how many of their research panel members know that this is how it works?) but also almost impossible to build to a scale that makes it worthwhile?
And not to mention violates Australia’s National Privacy Principles (NPP) and the rules of the Australian Market and Social Research Society (AMSRS + AMSRO).
Poor financial performance, mounting debt, no founders left in any of the businesses (including at the top, in the original business)…
It’s reasonable to suspect there was conflict at a board and shareholder level that no one (bar the insiders) will ever know about.
And also reasonable to expect that it’s now a long process to rebuild the business into a good one.
Shame, because they were all once [in isolation] great businesses. And the executives have all proved themselves capable of running good businesses.
More often than not though, companies fail when attempting to achieve significant growth via acquisition. It’s just damn hard to pull off.