United States, Founder, Ray Johnson discussed on Download This Show
People going yeah, yeah, look, I think that they're acquiring new customers to the platform as well that may not have considered using they services in the past and yet most people will be like Whoo Hoo. Let's go back out again, but you'll also get a lot of people. The would have never really thought about ordering and using one of these APPs Starting to use more on a regular basis. I think that while everyone's not going to stay indoors when they have to. Your customer base is absolutely going to increase during this time and continue. Canal like Oh secure is as a company. It seems like there's running a lot of big bit big risk decisions here, not secure. I think as the short answer It is a pretty terrifying time to become a public company for a company like Uber. In the state that Uber is in because he was an, it's not like he was in the black right it was. It's been deeply deeply in the red, and has been consistently losing money since its inception and the public market unlike the venture, capitalist market is way less forgiving for that, so this is a pretty difficult time for a company to play out its future especially in a space where the vast majority of your business is hardest hit with the pandemic, so I don't envy anyone working or having to make these decisions that are to be honest. Is actually relying on this acquisition to become profitable, which says something to make a statement like we'll be profitable by next year because of US purchasing this other highly successful business. I think that that highlights the real trouble has been in for posts. Maids Day tried to have public offering, or they were considering a public offering last year as well and so the consolidation of the space is obviously on the rise and for post mates. This was a pretty good. This was potentially one of their only exit. Opportunities especially as things get further and further consolidated, and since says no cash exchanged. It's not a real money, but there's no cash exchanged just in stock, and that's an important distinction to make because two point, four billion dollars sounds I. mean it is a lot of money, but there's no cash exchanged. I mean if you're the founders of post, mates and you essentially you're gonNA. Be Working with Uber for Uber for the next I able future and that is. Is Not, something that is going to change and it's not really much an exit opportunity for most of the people that work in post mates, and that's a good thing because it creates an opportunity for Uber to and post meets a really actually combined forces together to try and make this opportunity work for both of them collectively is. They're saying this canal that the price. Price mates brand dissipates now like if you're if you're a dyed in the wool, and then we'll sort of happened in the past if you're a died in the post nights fan, and you just much prefer the interface to over eight as your beloved about to disappear anytime soon not any time soon, but I wouldn't rule it out completely and I feel like this is. Is kind of a game that's been played out time and you know has gone both ways for example. What's up the peered right? It didn't just disappear into Messenger. FACEBOOK and different companies kind of play things a bit differently, whereas anything that Microsoft is just disappear as sooner or later, so Microsoft buys the favorite company fear. Is You just need to give up and So with Uber I, think post made time will tell but four company for an acquisition of this size. I don't think it's going to happen anytime. In the near future. All right that is all we have time for on the show this week huge. Thank you to canal, Colorado the CEO and founder of Jane Labs. Thanks coming on download the Shar. Thank you, thanks for having me is really fun. We'll get you back very soon. Ray Johnson the science and technology editor for the national indigenous television network and I'd say it's always a pleasure to have you back. Thanks for having me back I. Do also want to say thank you guys for bearing with us. I know there was some sort of audio problems. We're having with the show that we're working on throughout the recording. It's just what happens when each and make radio in the age of social distancing and remote recording Abdu. Thank you If you've made it this far under the show you persevered, and we greatly appreciate it. If you enjoyed the show plays. Leave a review on whichever podcasting APP you happen to be listening to us on. It's a really helpful. While other people can find the Shar and with that I shall leave you. Mind has been Mike Fennell. Thank you for listening to another episode of download issue..