Where to start? The company is caving. Missed the revenue target by ~80% as well as churned 51% of customers in Q3 FY23. Basically, a COVID rush to go digital/online with training put the company in a spot where they thought that they'd built the holy grail in L&D. Those assumptions have been proven laughably incorrect. Why is this happening? The founders believe that they have some unique product that they've built. Go1 operates in a completely commoditized space. Every LMS or HCM platform has the ability to go source from the same publishers that Go1 claims to be unique. The product that's offered is overly priced relative to similar products in the space, the quality of publishers hosted is mediocre, leadership has ZERO ability to paint the picture of where the company is going, there are no meetings to demonstrate the direction of the company....no one knows what to focus on, the focus of the week is constantly different than the week prior, there are no 1:1 meetings to address things that need improvement, there is no face time with the leaders -- whether it be the execs in Australia or the 'execs' in the States... the CRO can't host an all-hands and instead writes an email telling everyone if they're not a 10x player that they should leave. The company claims to be the "leaders in L&D" and yet there are NO L&D programs. The company's OWN PRODUCT IS NOT USED ACROSS THE ORG....what does that tell you about the product that this company provides? 50% customer churn. What does that say about the product that's being sold? If a product is being utilized and is working, would customers churn? Ineffective product, ineffective management, ineffective communication...
