Veritone Inc (VERI)

[cpeter7]

Agreed. I think you mentioned it but I think they will sell Veritone One.

[KVM]

Plus quickly running out of cash. Can't wait a year for anything.

[cpeter7]

I guess it’s a tangible partnership and not just words. Hopefully they will provide updates on how the “vault” is doing. This sort of thing should’ve been in place when they were promoting the veriverse.

[KVM]

Ground floor. They were getting in on ground floor 10 years ago with a half billion dollars thrown out the window.

[cpeter7]

I think the CAA partnership is interesting but will probably take at least take a year for something to materialize. It does feel like they are getting in on the ground floor of an exciting opportunity.

[KVM]

Ai hotter than ever. No new contracts, generating revenue partnerships, technology or desparately needed cash. Real mystery to me what the hell they are even doing. Guess no work getting done today. Lol

[GBR]

Still don't know why it takes over a year to integrate Broadbean.

[GBR]

No new revelations for me.

Beginning in the second half of 2024, we expect to see material growth on
a global basis from Broadbean, driven by our ability to expand into controlling not just the job
distribution software budget, but advertising budgets as well for EMEA clients. We expect to finalize the
full integration in the first half of 2024, and begin to realize further synergies from the sales and
marketing organizational integration and technological integrations in the later half of the year.

I guess just waiting to see what 2nd half 2024 revenue and cost synergies is all about. Also wonder if the timing of the million dollar check to CS on July 1st, being the 1st day of the second half of 2024 is just merely a coincidence, or is he actually getting paid for accomplishing something.

Other than that, this year so far has been as dissapointing as the previous years with outcomes not matching Steelberg statements. Demand exploding appears to be an outright lie. Unless there is some unannounced catalyst coming

[KVM]

Any new revelations? Or are we waiting to see what Aug EC brings

[GBR]

for some reason, not working for me, just a blank screen

[cpeter7]

Yes I can log in. It seems like they've been busy pushing out updates.

[GBR]

cpeter, are you able to log in to aiware?

[GBR]

Welcome to our POS. We'll see if they have something for investors before they write the million dollar check to Chad Steelberg, who has accomplished nothing to deserve it.

[bwrbad]

VERI web site listed so many giant Infrastructure Partners , Technology Partners, System Integrators, and working with so many of the best Managed Service Providers for so many years. Their work force is large almost 700. They must show some breakthrough shortly to make a mark in the AI world.

[GBR]

30 days to go when CS gets his $1M check.

[GBR]

After bottom falls out on Pando acquisition, they double down and buy Broadbean, at a time when their balance sheet and lack of growth showed that they could not afford the purchase. Not to mention that the Broadbean purchase meant less capital to apply to other business lines such as M&E and aiWARE enhancement.

[GBR]

Veritone stopped evangelizing aiWARE in 2022.

They spent all of 2023 NOT talking about aiWARE, despite the fact that aiWARE is the only thing that differentiates them. Instead, just said "wilderness guide" for AI.

Only thing I can think of is that maybe new aiWARE roadmap involved AWS. But still waiting for any confirmation of that. Otherwise, the chain of events from 2022 to present has been a textbook case of aimless lack of focus.

[GBR]

Good analysis.

Looking back, Veritone made a big bet on Amazon. Bought Pando for the Amazon relationship. Pando was to be integrated with aiWARE. Veritone hoped Amazon would be on board with this integration. Everything unraveled in 2022.

Unbelievable that Veritone would buy Pando with no long term agreement in place with Amazon as customer.

But I have still not seen anything from Amazon with respect to HR tech that indicates Amazon pursuing a different HR recruiting path.

Veritone still going all in on AWS.

Still no evidence that AWS is doing anything for Veritone in return for Veritone's loyalty. In my opinion, Veritone's future, or I should say Veritone shareholders future entirely depends on Amazon (AWS).

[KVM]

Veri in business for 10 years. Have shown nothing but losses for 10 years. Blew over $500 mil in stock offerings, IPO and loan proceeds. For 2024 guiding 140 mil in revenue. In 10 years except for once have not exceeded their conservative revenue guides. 2024 revenue can be broken up as follows.
Ad and managed services. 65 mil
Broadbean. 40 mil
Pando. Estimating. 25 mil
Gov and reg industries. 6 mil
Ai revenue. 4 mil.
Whatever I am off on Pando can be applied to Ai revenue. All the rest of #s are solid. So after 10 years have approximately 4 mil in Ai revenue. Also for Gov tout over 300 SLED customers as well as the Fed gov and only generating 6 mil in annual revenue. That's no growth in 10 years meanwhile they touted 40% annual growth 5 years ago excluding of course acquisition revenue. No wonder a 100 mil MC company while competitors are thriving Veri is sinking. And like I said before their backs are too the wall with debt and no options too alleviate problem.
Only option is outright sale and longer they wait the options become more dire. Looks like trying to buy time. Maybe waiting for sale of Veritone One and signing of Fed contracts to give themselves more and better sale options. All JMO. But Veri in 10 years as shown absolutely the worst management I have ever witnessed and told their investors the most outrageous lies and BS that I have ever experienced from a public company.
.

[GBR]

Veri touting AI job growth while eliminating AI jobs at Veritone.

[KVM]

Plantir busy signing a $500 mil DOD contract while Veri busy analyzing DOL labor statistics. Kicked out of Russell 3000. And heading for pink sheets. Give them a hand for great job they are doing.

[deet49]

More than just for Hollywood the CAA VERI deal and the likes likley has the attention of artists musical, theatrical and compositional that are not contracted with CAA

The likes of which will face AI challenges undoubtedly

Bankers, CEO's, politicians ect ect ...

Imagine your boss calling you telling you to transfer the funds and its AI generated

Could move our timeline up exponentially?

[GBR]

I would guess so. Non execution by management also impacts this POS.

[novicetrader]

Does the Russell 3000 deletion (during the 2024 Russell reconstitution)have any impact on VERI price? The Russell reconstitution annual lists were released friday I believe. Not sure how much the Index annual deletions/additions is followed by investors to have any meaningful effect. Maybe just a temporary effect when the funds rebalance their positions in June?

[beni2020]

As always they back up explosive comments with nothing.
Poor management and zero organic growth in the face of the contrarian statements equals zero credibility

[GBR]

Yeah, the EC questions are useless, and so are the prepared remarks. Back in March, RS said demand was exploding for aiWARE, and all applications. Absolutely nothing to substantiate this. No "disruptive growth" as they have alluded to for months.

Everyone is disinterested because they have zero credibility.

[beni2020]

Cannot disagree whatsoever
And I can only wish he did what he was paid to
The EC questions are beyond useless and show everyone's disinterested.

[GBR]

Before they changed the Chad consulting agreement, he had remaining customer goals and analyst goals that he would have had to earn. Instead, they amended the agreement, to where he gets essentially the same money without having to achieve those goals. So something happened.

But everyday that goes by with nothing on aiWARE, it's looking more like smoke and mirrors, and the whole deal with the amended consulting agreement was to buy him off of the Chairman position.


Not even anything new on Veritone Hire. Sick.

[beni2020]

Everything I told them years ago was true.
I told Chad directly face to face the market thinks you're selling snake oil and he didn't like it one bit

[beni2020]

I can't speculate on the Yahoo website. But I can only be happy Chad the egomanical evangelist is gone at any price.
He was never an enterprise operator and the Co and shareholders are the victims.
I am sure there's a lot more going on than they disclose
They are the poorest communicaters of all time

[GBR]

Of course, I hope Banta did not bail. But have to say, this is the first time I have not seen Banta listed on Yahoo.


But will also say, that I would not blame Banta for selling. This company is running on thin ice with its balance sheet, and no signs that Zemetra is executing.

To add insult to injury, in just over a month they are going to be writing a $1M check to Chad Steelberg. On top of the millions he has already received, and on top of the 50 grand a month he gets. To not have anything for shareholders to justify this consulting arrangement is disgusting as far as I'm concerned.

[GBR]

Looks to me that Banta is considered a passive investor, and therefore not subject to 13D. Instead they are subject to filings under 13G. If a top institutional holder sells his stake, there is no requirement to disclose the sale.

there's no requirement for a Schedule 13G investor to disclose selling their holdings.

So again, don't know how Yahoo arrived at this. Banta was asking questions during the May earnings call.

[beni2020]

That's a unlikely scenario.
And I don't believe it's there personal funds at this point.
They were the market maker and still have belief in the Co from the others I know who are close to the situation. They have a large book of biz with significant wealth who already have risked millions at double digit prices.. Why would you not buy more at less than $2...

[GBR]

The stock had a run up to 7 plus in the back half of March. I guess it's possible that Banta took advantage of this run-up. Wish I would have. But I don't know how Yahoo collects their data. Especially since there is no filing.

[beni2020]

Cannot be accurate
They didn't just buy 7..800K shares to lower there basis. And then dump them

[GBR]

As of March 30, 2024, Yahoo no longer lists Banta in Top Institutional Holders.

https://finance.yahoo.com/quote/VERI/holders But they could be wrong of course. I have not seen any filing. The last filing I saw showed they added shares.

[beni2020]

How do you deduce that conclusion

[GBR]

Looks like Banta bailed

[GBR]

New position for Associate Client Support Specialist
mentions nothing about Amazon or AWS
https://www.veritone.com/vacancy?gh_jid=5989275003


But for whatever reason, these YouTube videos about the position mention Amazon but can't understand what they are saying.

[GBR]

VP of Global Services at AWS.

refers to Veritone as a "customer", but says Veritone is revolutionizing the generativeAI landscape with the help of Amazon Web Services (AWS).

Then he says "Our latest venture integrates Amazon Titan Multimodal Embeddings into our search pipeline, enhancing video retrieval capabilities."

This post concerns the recent AWS blog post describing how Veritone is updating their video search pipeline. So why does he say "our search pipeline"?

https://www.linkedin.com/feed/update/urn:li:activity:7196169669882355712/

[GBR]

Somewhat interesting that the about to be board member, Michael Keithley was CIO/CTO for CAA for 25 years. Then he was CIO for its main competitor UTA for 7 years.

In March of this year, UTA hired Eric Iverson as CTO. He is connected with RS on Linkedin and came from AWS and Amazon Studios.

https://www.linkedin.com/in/eriverson/

There has been no PR about Veritone working with UTA. However UTA CIO Eric Weinstein, provided a testimonial for Vertone Voice. https://www.veritonevoice.com/api-real-time-voice/


Weinstein worked at UTA until 2022, when he became Chief Development Officer for Candle Media. It was in 2022 when Candle Media and Veritone collaborated on the Cameo for Kids.

I guess the point of this post is that Veritone does have some standing in this vertical. Is Michael Kethley joining the board of a sinking ship? And why thus far Veritone can't seem to grow revenues and attract reputable investment.

[cpeter7]

Agreed I think the CAA announcement is significant. I wish they had this in place before releasing the Veriverse. I thought for sure the stock was going to move higher.

[GBR]

The prospects for Digital Media Hub are encouraging, but the stock price says it all in my opinion. They need to announce a balance sheet fix and evidence of material revenue growth. Their current guidance is lame. Hard to grow your business without adequate cash to fund it.

[deet49]

Is there something so say about this VERI CAA deal (doing something right) and possiblity we have a [C]reativEdge' ....?

From the last ER > Cornerstone<

Our aiWARE powered solutions, which provide a best-in-class ecosystem of AI models and intelligent data lake and workflow tools remain the cornerstone of our operations

[KVM]

Yea maybe right. I am done posting. I am done only option opinion unless buyout Veri done. I see no options here. Waited 10 years for nothing.

[GBR]

your comment:

Seems Ai market not warming up to an operating system(Aiware) as evidenced by Veri Ai consulting Group.

From the May 7th consulting group PR.

By combining human expertise with aiWARE™ technology, the newly formed group will empower businesses on their digital transformation journey through custom AI strategy development, AI workflow solutions and innovation workshops.

For all of 2023 and so far in 2024, Veritone has put out many PRs that did not mention aiWARE. Now forming a consulting group centered around AWS expertise. So why do they decide to describe their new consulting group as a combination of human expertise and "aiWARE technology".

If aiWARE going no where why bother to bring it up in this PR? Why not just say consulting business based on AWS technology?

We know they have a new version of aiWARE that they say nothing about. Why even have a new version of aiWARE. If aiWARE sucks why not just sunset it. We know aiWARE has done nothing for revenue growth, done nothing for shareholders. What do they expect from this new version of aiWARE?

Maybe the new version is created based on AWS requirements and AWS standards, and made to be more compatible with AWS technology and Bedrock. Maybe that's the new aiWARE roadmap that they were working on for all of 2023.

Yeah things don't look good right now. But to me it looks like self inflicted harm by not being focused. Just hope there is a strategy behind this. Looks to me like they have sold their soul to AWS. Any success for Veritone going forward looks to me to depend on what it is that AWS is going to do in return for Veritone. Remains to be seen.

[KVM]

Got to be missing something. No interest in Veri whatsoever. All these startups attract billions in investments and Veri nothing. The more I read into Veri AWS so called partnership the more it seems like a customer relationship than a partnership and Veri being the customer. AWS barely acknowledges Veris existence and AWS certainly not buying or utilizing anything from Veri. Other so called partnerships like Deloitte and MSFT too name 2 don't hear anything. I think Veri going this alone whether by choice or lack of interest. Seems Ai market not warming up to an operating system(Aiware) as evidenced by Veri Ai consulting Group. IMO they are in a big bind right now and unless they get lucky and get a buyout things will be very ugly for a while. Only Hope for me is Fed contracts. If small than I lose all hope.

[GBR]

Good question. And took aiware off AWS market place. Have a new version and don't announce it

[KVM]

Along those lines Aiware website still not updated. Why

[deet49]

Yes spinning off a newly rebranded Aiware with a new 51% majority stake partner 2 -5B cash infusion would be AWSome

VERI Anthropic

And VERI would remain an AI solutions company

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https://www.nextgov.com/emerging-tech/2024/05/agencies-are-advancing-ai-pilots-face-scalability-challenges-report-finds/396439/