People are losing faith in Veritone because they have not demonstrated the ability to scale. They either continue with dilution or seek a partner. Many employee stock options are under water. So Veritone faces the problem of attrition if employees lose faith in Veritone as a going concern going forward. You have recruiters circling Veritone like vultures trying to entice them to greener pastures. On the positive side they are doing very well capturing deals. It's just that the deals are pilots, trials, etc. They just signed (with Accenture) a pilot for the Ministry of Justice - Spain.Lots of smaller deals like Casetify, Molina Healthcare, Candid Co. and Upstart, an online lending marketplace. So they are getting deals, but I think they need help with scaling, and also something that gives Veritone employees confidence going forward. They have a partnership with Microsoft that they say they expect to give more details on in a few weeks. Also last week there was apparently a lot of BOD activity. At least one of the reasons for the board activity was concerning the underwater stock options of employees. So not sure if that will be resolved in a shareholder friendly manner or whether it be lowering the strike price, diluting shares or what. But I am hoping that if Microsoft is as interested as what they are intimating, then perhaps some type of strategic deal/investment with Microsoft would solve the problems of scaling and employee confidence going forward.
