Yeah, it's an interesting one, I'll need to dig a bit more.

Their latest preso says 2 year retention of 59%, which seems quite low, but they state is 4x the industry average.  Retention rate is one of those things that matters more than people realise especially if your customer acquisations costs are high. But they state theirs is only 9 cents while they are earning 248 cents per customer per (forward) year. They are in a good space to get high advertising revenue, but I think we should expect that to stabilise. Really want to track the member growth I guess - looks like the growth rate may have droppeda bit in Q3 FY19 (from the tiny graph). 

Just looking into this one, i understand the platform, but what happens once the kids grow up - do parents continue to use it?