Trey, what makes you think that SplitP is currently in a viable position to make a public offering? With as far as I know only two customers currently, Peapod & Coles, don't you think that there is more work to be done in truly becoming a competitive software developer & marketer of e-commerce software? Two different business that are in two different stages of development, Peapod the e-grocer can now concentrate on aggressively expanding its own business while maintaining a stake in what 'may' eventually become a profitable software co., meanwhile the darn thing does not drag us down, as software development, support, & sales is expensive. It seems to me to be the right thing to do, to let both the P's have incentive & focus on what needs to do for each to succeed. Do you really want capital used for 'firewall' r&d ? Additionally, I don't come close to believing that Split P's value is anything near the branded identity that I see evolving from the e-grocery we call Peapod. Split P's success or value is already intrinsically tied to the successful execution of the current Peapod business model, & execution as establishing Peapod 'brand identity'. The marketing muscle will belong to Peapod, if it is successful, Split P will ride the coattails, not the other way around. Peapod is the marketable brand & its future depends on managements ability to establish itself as the premier online grocer, create brand awareness by becoming #1. I don't believe they could do that & be a software vendor at this point in time. The risk/reward, the odds for the success of the PPOD biz model are greatest now, most executable now; software development will take its own resources & biz models to execute properly. I think that Parkinson's phrase about aggressive expansion of PPOD's core biz tells what the opportunity currently is. Perhaps this is the best we can ask for at this time, no?
Regis |
