On The Ground News Reports Touts US$2 Million Valuation, But Lacks Real Content And Revenue To Back It

It may have missed a lot of us. It certainly missed me, until a friend asked me if I heard the story about On the Ground News Reports touting a J$200 million (US$2 million) valuation, based on future earnings.

OGNR_06 Jul. 25 21.19

For a three year old company with no real revenues, little original content and nothing much apart from news, (just of a different form), there’s only one word to describe this kind of news – Impressive. Impressive yes, but shocking. Shocking because J$200 million is not an easy figure to assume. We for one would like to know how they arrived at such a figure. But it’s impressive, because these guys are achieving something great.

I’ve known of OGNR from they became public, and like almost almost everybody else, I quickly gravitated to them for their super-fast, extremely relevant, and local focused news, especially in times of crisis. But could it be that they were just in the right place at the right time, and the initial momentum has taken them as far as it can? What is the future of OGNR?

Can They Take It Up A Notch?

The big question now is, how is the company doing? And what does the company plan to do? How is public perception now versus at inception, and how is their performance and growth? Is the company and its news getting as much attention as before? Maybe, maybe not. Word is that either the news is not so relevant anymore, its late, or just the same international news available on every other site. But one thing for sure, these guys have reach and lots of potential to grow.

It’s good that they’re growing, and have decided to carve out their niche in the media landscape. It’s good that they’re sticking to it. When this ‘hobby-like’ news service started I immediately saw the value in it and hoped they were in it for the long haul. In fact, we even wrote of them and how they challenged the major Jamaican news outlets with their online coverage of the 2011 elections.

Once OGNR remains focused, sticks to their core business of ‘citizen journalism’ and other related ideas, especially with its young brilliant leadership, I see a bright future ahead for them. I will try to reach out to them for further information.

Disclaimer: MoneyMax101 has a blog on the OGNR news platform, however what we write or publish is in now way influenced by OGNR.

 

Read More


This entry was posted in Startups & Venture Capital. Bookmark the permalink.