There’s No Happiness in Minneapolis
Adrian J Cotterill, Editor-in-Chief
Back in November 2008 we wrote ‘Wireless Ronin Stock Dips Below $1‘ and reported that their stock traded at a market capitalization approximately USD 1 million above the cash on hand. Even the mighty Gill Berba from WireSpring was driven to write at the time ‘Wireless Ronin (RNIN) takes a beating. Will they survive?‘
Perhaps RNIN should have said back then “The reports of my death are greatly exaggerated” because as their stock hurtles back down towards a dollar we give them until Christmas until they run out of cash and are gone for good.
Even the good guys they managed to recruit 12 months ago are leaving – as we reported ‘Veit Q. Tran Leaves Ronin‘ in April.
May 26th, 2010 at 12:21 @556
A responsible Board would declare a special dividend, return all but $1M to shareholders, sack everyone not responsible for maintaining existing customers, and use the rest to hire an investment banker to auction off the pieces. Chance of that happening: about the same as a KFC rollout.
May 26th, 2010 at 14:41 @654
I don’t have a comment on the story, but on the response: if you have something nasty to say, be a man and put your name on it.
May 26th, 2010 at 20:04 @878
Truth of the matter, is that this shouldn’t surprise anyone that’s had any dealings at all with these guys.
Year after year, show after show, be it DSE or others, you could count on WR having a huge booth, typically with models/actresses, lots of glitzy content, but nobody actually interested in talking about the product.
As a QSR marketer responsible for thousands of locations, you’d think they’d be interested in, at least, talking about what they could bring to the table. You’d be wrong, of course. I tried a few times to engage them, but they never bothered to follow up, leaving what could have been a multi-million dollar account to be pursued by others.
Although failures always pain me, they won’t be missed.
May 26th, 2010 at 21:43 @946
For the record, Screenfeed is also in Minneapolis and we’re extremely happy!
We even hired an ex-Wireless Ronin creative designer to our team (but we won’t be able to hire them all).
May 27th, 2010 at 16:03 @710
I wonder how many other Dooh providers — particularly SAAS based — would do if their financials were held up to the same scrutiny?
May 27th, 2010 at 18:28 @811
RPM – I’m not sure where you are at in your process, but if you get this posting, I’d be happy to speak with you about your opportunity. We are a mid size intergtration company that works with 4 of the bigger digital signage software platforms that can customize any program to your needs. We provide a TRUE turn-key service on a national level. You can contact me at chines@bluewatertech.com.
Thanks