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Author Topic: Talenthouse/EyeEm senior executives departs  (Read 2771 times)

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« Reply #1 on: March 06, 2023, 03:36 »
They also had a special meeting in January to discuss their financial problems.

So, not looking good. I am surprised they can not pay out for months without being forced to declare bankrupcy.

Probably they are looking for money or investors, but this cannot drag out forever.

Wouldn't be surprised if eyeem gets sold again.

But you never know. Twenty20 was a fantastic platform and it was closed by the new owners after 4 years.

« Reply #2 on: March 06, 2023, 05:24 »
We still waiting to hear about our monies

No money since November, no new sales since the beginning of January, waiting for new exciting news

« Reply #3 on: March 08, 2023, 10:01 »
Who is waiting here also for a payment from Eyem?
Is it coming or is there no chance?
What you think?

« Reply #4 on: March 08, 2023, 11:07 »
I am. Pun intended.
Fun fact: we don't even know how much they owe us, as they are not reporting sales anymore.

A lost cause I guess, Talenthouse is in a very rough financial situation for quite some time now, and it seems that they struggle with finding new investors.
How they were able/allowed to acquire Eyeem is a mystery for me. It very much looks like a company awaiting official bankruptcy.
The first thing they did after the acquisition of Eyeem was withholding outstanding payments to contributors.
They eventually did pay during summer, but nothing more after that.

« Reply #5 on: March 09, 2023, 00:03 »
I also cant fathom how they acquired EyeEm.

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« Reply #6 on: March 09, 2023, 03:24 »
Very interesting point, how could they buy eyeem if they have no money?

« Reply #7 on: March 09, 2023, 08:55 »
Very interesting point, how could they buy eyeem if they have no money?

Having no cash while having places willing to lend you huge sums of money are apparently a thing :(

Talenthouse's investor relations section seems a bit out of date, but read from a late 2022 report on how it was restructuring its debt. Short term loans into long term loans or equity:

"During Q3, the Company has engaged in fundraising efforts and continues examining financing options, having already undertaken significant conversions of certain legacy
debt into equity during the period. Talenthouse has also refinanced 48% of its short-term liabilities into long-term liabilities during Q3, in order to strengthen its balance sheet position.

The Company had short-term obligations of USD 25.1 million as of 30 September. Withthe closing of the Coolabi transaction in July, the Company refinanced existing vendor loans of USD 30.4 million into a 5-year loan facility. Talenthouse also converted USD 7.4 million of debt into equity during Q3. Of the USD 62.9 million of short-term obligations as at 30 June, the remaining balance of USD 25.1 million at 30 September consists largely of shareholders loans.

Management will continue to steer the company forwards, maintaining tight cost control and driving revenue growth. Management believe they will secure additional funding, allowing the Company to invest in its growth initiatives."

They're still trading on the Swiss stock exchange but their stock has apparently lost 95% of it's value in the last 52 weeks...

They can apparently find time to put together a visual trends in 2023 report, but not the expected quarterly financial reports

I'd say their vehicle is coasting slowly downhill having run out of both gas and fumes, but possibly they'll figure out some way to put things right...
« Last Edit: March 09, 2023, 08:57 by Jo Ann Snover »

« Reply #8 on: March 09, 2023, 10:58 »
I wouldnt be surprised to learn that when they acquired eyeem, they placed some kind of financial value on every image in their collection. This can easily blow up their theoretical assets to idiots with no experience with media companies. And the cash flow from Getty probably looks good too.

But it is still a company in Switzerland not in a banana republic and they have  strict financial laws.

Very weird the whole thing.

« Reply #9 on: March 09, 2023, 19:50 »

Uncle Pete

  • Great Place by a Great Lake - My Home Port
« Reply #10 on: March 10, 2023, 13:46 »
This article is in German and from last September, but eyeem had a huge loss and it already looked like they are closing down soon.

Part of the article:
09/29/2022 | 08:28

Baar (awp) - The technology platform company Talenthouse made a loss of 20 million in the first half of the year. Now those responsible are unsure about the continuation of business.

Operationally, the pro-forma EBITDA at the end of June was a minus of 14.4 million dollars, as can be seen in the annual report published on Thursday.

The company attributes this to exceptional costs related to the listing on the SIX in March 2022 and losses at Coolabi, in which Talenthouse owned a third at the end of the reporting period. In addition, considerable investments have been made in vertical growth.

According to the report, the pro forma figures include all subsidiaries of the group up to the end of June to enable comparison with the first half of 2021.

The bottom line was a loss of 20.2 million. This means that the loss has more than doubled compared to the first half of the previous year (previous year: USD -9.3 million).

" Coolabi Group is a leading independent international media group and rights owner specialising in the creation, development and brand management of childrens and family intellectual property rights."

For those here who like to complain about investors and owners who get rich on others work. When some company like Talenthouse looses their butt, the owners and investors lose millions. There is some risk involved.


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