Not Espial-ly Good
If you are one of those who believes Canadian startups simply aren't competitive when it comes to executive compensation, take a look at last week's final prospectus for Espial over at Sedar. The equity given to management, together with the fixed and variable salary reported, contrast markedly with those reported by limelight and even by recent AIM debutante Redknee. Granted, there is a significant difference between Limelight's revenues pre-IPO and those of Espial. But is the equity component reported here an adequate reward for the reduction in base salary? The eternal question remains.
posted by Suzanne Dingwall Williams at
6:53 PM
1 Comments:
I'm thrilled that an Ottawa company has landed on the TSX.
However, what appears surprising is the need to go public! I don't see any upside, with the exception to investors of course, for a non-profitable $10M company going public. Show me at least 6 quarters of revenue and profitable growth and I'm excited and so is the general market.
Going public wouldn't put Espial into the black that much faster in fact it will keep them in the red that much longer.
Looking at past Revenue performance I'm also not particulary excited at the future revenue projections and expectations. IPTV is a tough competitive market with giants like MSFT weighing in with joint initiative projects with Bell Canada (Express Vue) of all players.
Too early for an IPO IMHO. However never too early for a liquidation event.
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