Hey guys, some initial bearish thoughts.
- Yet to see a digital or financial product.
- Yet to see customers
- Absolutely no comparison to Afterpay as a business, saw this mentioned in other forums. ???????
- Proposed product features are easily replicatable. I saw nothing new as someone who works in the digital banking space. No moat.
- Whole bunch of execution risks
- Very competitive and barriers to entry are dropping so expect to see more especially when open banking arrives. My fav of the current Neos is Up. But they're all suffering because of Covid, losing customers.
- Really not sure what BaaS means. Yet to see their business model in operation.
In saying that Dou will have achieved amazing audience reach just listing and likely up on all the other neos for getting their name out there.
Fun fact: Interesting baseline, one of the most recent Aussie neos Hay launched in Feb this year and is on the cusp of its first 10,000 customers. Hardly explosive stuff. Here's hoping Dou does better for holders.
