1-Page: A Disruptive Talent Management Firm - Does Joanna Riley Deserve another Chance?
| Case Code: LDEN190
Case Length: 14 Pages
Pub Date: 2022
Teaching Note: Available
| Price: Rs.400
Organization : 1-Page
Industry :Business & Consumer Services
Countries : United States
Themes: Entrepreneurship, Ethical Leadership, Ethics in BusinessStrategies
Abstract Case Intro 1 Case Intro 2 Excerpts
Though 1-Page gathered initial traction, its revenue was still far from exceeding its expenses. In 2013, 1-Page recorded revenue of U$72,000 . Riley was concerned about the cash starved situation of the company..
1-Page platform’s most critical growth ingredient was people as prospective hires. Riley was on the look-out for databases of people that could give her access to huge chunks of data on potential hires...
With Branchout’s acquisition, Riley seemed more confident about taking on the hiring space. 1-Page’s monetizing strategy was based on what Riley called ‘Land and Expand Strategy’. She had at the center of 1-Page’s model the ‘Land and Expand’ strategy that assured quick acquisition and conversion of clients seeking its talent management services..
1-Page’s client list in the trial period comprised some prestigious names like Starbucks and Under Armour. However, in 2016, few of those clients got converted into the stage 2 contract. One of the biggest reasons responsible for the client decline was the huge gap between 1-Page’s promise and delivery..
The acquisition of Branchout was an ambitious initiative by 1-Page. Branchout’s huge database of 820 million encouraged 1-Page to reach out to a larger audience and cater to larger groups of employers. Its vision was to combine the social graph data from Branchout with its own proprietary technology – the Master Database Manager..
What in 2015 had been trumpeted as one of the most successful and exemplary stocks, witnessed a nosedive in 2016. While 1-Page had debuted with 20¢on ASX in April 2015, by September it had catapulted to $5.69, a 2745 per cent jump from the debut price..
In December 2015, Riley was forced to step down as CEO and Peter Kent (Kent), who was the Chief Operations Officer at 1-Page, replaced her as the CEO. Kent was of the belief that it was not too late and things could be turned around even at that point..
Riley met with stiff resistance from the board members, especially Chapman, an influential member on 1-Page’s Board and owner, Merchant Funds Management. Chapman was extremely unhappy with 1-Page’s vital performance indicators and completely unsure about its future performance..
Exhibit I: 1-Page Service Platforms
Exhibit II: The Working of Sourcing Platform
Exhibit III: 1-Page’s Client List
Exhibit IV: 1-Page’s Projected Critical Ratios
Exhibit V: 1-Page’s Financial forecast
Exhibit VI: Rise and Fall of 1-Page Stock
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