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#Bull Case
Added 2 months ago

Whispir is a SAAS communications company.  They have a large range of international customers, including Virgin, Disney, Foxtel, AGL, Fire and Rescue NSW and WA,  NZ Police, recently the Victorian Government among others.  WSP:ASX basically takes the many ways customers communicate with companies,(SMS, Facebook, Email, Twitter, Push) and puts it all in one place...So that a staff member can respond via one platform to all others.  WSP makes it easy to use with no coding experience needed, drag and drop designer, and other features.

They seem to be aiming for large international companies, and have partnered with Venture Capital to help grab some of the market share.  I do like that they are after large companies and government bodies as that should provide them with with some "feathers in their hat", both in regards to sales and financial stability.   This could be why their sales growth is so slow, because they are trying

In their prospectus they stated that in 2018 they had 116% customer REVENUE retention, and that the TAM that WSP can tap into "might be" US$8 Billion in 2024.  Not saying that they are going to get 1% of that, but a rising tide lifts all boats might put WSP in the right industry.

Ways that companies use WSP are, staff rostering/timetables, communicating with Job Applicants, automating account enquiries and service issues, updating the public on fires and emergencies.  The bigger the companies the more important this software is.

The programs features obviously can be tweaked to customers needs and new addons developed.

About 80% of their revenue come from Australia and N.Z.  and are only recently trying to break into the US and Asian markets.  WSP reckons 70% of sales come from its channel partners, Telstra (also a customer), IBM and AWS (everyone seems to boast about having AWS as a partner).

This company is surprisingly easy to undersand and pretty obvious when you start researching it.  

WSP reckons that there are no direct competitors, holistically speaking, but I do doubt that.  See my Bear Case if you want.


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#Bear Case
Added 2 months ago

Doing a quick google search of "Online Communication Platforms" an absolute truckload of platforms, apps, and lists come up.  This shows how non-existant the moats of these businesses are, as well as the potential for consolidation.  Obviously the barriers to entry are low, so this could be an area that every tech company could enter and steal the market from WSP

One of the big issues I see happening is that their products may not be sticky enough... eg they lost a bank in Singapore recently.  With the low barriers to entry I think alot of Whispir's customers could bring this in-house, especially for security reasons.

Whispir must develop their products constantly to stay ahead of the game, with machine learning and A.I.

Only during the shutdown I have only recently found out about companies such as Zoom.  To my knowledge Whispir does not have a similar offering..yet.. 




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