Why is this share going ‘down the pan’ again? Does anyone have any insight?
Bango are toast. I was bearish back in 2013 and surprised the share price lasted as long as it did. Bango have almost no revenue of merit. For all their bluster they barely took more than £3m in revenue barely better than my local corner shop. This was a 50% drop on the prior year, yet all their costs are rising. In the world of “race to zero” where without any identifiable barrier to entry transaction costs tend t 0 Bango are in the wrong place. with the move towards transactionless payments Bango are in a tight spot. The smoke and mirrors of their accounting to have the gaul to focos on End user spend id laughable but even when you look at that total spend by consumers through its platform that is a pitiful £50m. That is barely 1 day of app transaction spends through the Iphone. Bango had better hope Apple or Google buys them soon as they are running out of time.