As I can see people started being too serious in this chat, I am just posting a super insightful slide from Freetrade deck. Just for funā¦4 charts without any number on the y axes. Who wants to guess? That AuA is going to the moon
They released a blog post about his departure on 25th
Do you like the deck?
A trajectory that only goes up
What a shame Its not easy finding engineers, let alone a CTO. Hope this doesnt hurt Freetrades prospects too much - Freetrade seems in dire need of engineers to grow. Anyway, I wish him well.
@adam I donāt get if you are being sarcastic or itās a serious question ahahā¦in the doubt, I will answer seriously. I think itās great that you are sharing it with us and I like that is so short. You give few information and then I imagine you tell your ālongā story (and the investor is not distracted by numbers - Steve Jobās style). I work in the magical words of investments and have a numerical background, if I see a graph with no numbers I just go mad. I have a baby Python model that is asking for revenue or AuM numbers since day 1 ahah. Other than that, your presentation decks are fantastic since the first I saw at Octopus Lab
Iām not sure Ian or Viktor were original co founders? I heard Viktor explain on a podcast he came to Freetrade after seeing them raising their first Crowdcube round. Maybe I misheard. Not a judgement on whether he should have the title of Co founder or not, personally I think Viktor is awesome and has been instrumental, and itās nice to see him get the recognition, just pointing out.
Also somewhat surprising to see securities lending being planned as a revenue stream. I think itās a good idea and helps pay for the product at no cost to the customer, care is needed though around how it is communicated especially after the GME saga.
Serious question
Iām most impressed by now you managed to beat your own targets. I even thought you were a bit ambitious last time.
So big well done.
Thatās pre Gamestop figues as well
Such a shame to see @Ian leave. Freetrade has gone from strength to strength since he joined.
I donāt think the growth or product would have been possible without the tech platform Ian has overseen.
The Freetrade share sell email doesnāt make sense, it asks if you want to sell at Ā£3.77. Then provides a slide with charts showing rapid growth. Thatāll be a no to selling right now then.
Over $10m ARR is incredible as well. I wouldnāt be surprised if ARR is now over $20m. TechCrunch said they did $1.4m in December, imagine what that was at peak GameStop.
Adam founded it with Davide Fioranelli initially If I remember correctly. Davide is in the board but works as VC investor now. Viktor got the title probably because he deserves it. A startup itās a vision, if he contributed to change or improve that vision through time why not getting the titleā¦
Thank you @lucas. Iām also confident the team in place now will continue to go from strength to strength - they have some amazing leadership in place now.
We agree! We love him and he will always be a community member.
He left a strong engineering team with a lot of strong leaders at Freetrade.
Sorry to see you go @ian. Your efforts have been very much appreciated by the community, you couldnāt be leaving the business in a better position! Launching the App, building the Platform and scaling for exponential user growth! Thatās one very impressive CV!
I picked up on this too, and agree that care is needed. You often see traders on the internet discussing this in a negative light saying things like āset you limit sells really high so that your broker cant lend your shares to bearsā etc
The Crowdcube email also said October 2020.
Iām pretty certain the document was edited and redacted so as not to reveal the KPIs to competitors, and hence the numbers of the chart were removed.
I donāt need the numbers to know that I will be making a big follow on investment in R8.