This company has commited every mistake in the book just in 2013
Iam sorry guys but when the market sees blood it goes for the juggular. They are going to make Velti dilute the heck for the next round.
List of mistakes committed just in 2013-
1. Not raising enough capital in the 1st round. They should have raised 50million.
2. Not laying enough people, looking at the revenues, GMs and opex, they still have 10million cash burn. They needed close to 40% layoffs but got only 20%.
3. They should focus only select geographies which pay faster. They have too many offices and in too many places. Just focus on UK\US\Western Europe\India all other regions are just cash drain and difficult to manage.